Like all independent schools, Foote's tuition does not cover the full cost of educating each student. The Foote Fund, along with the income from the school’s endowment, bridges the gap between tuition income and the actual cost of operating the school. Because Foote is an economically diverse community, we value contributions at every level. Taken together, these contributions provide enormous support for the school.
The Foote Fund is a tax-deductible opportunity to support the school. Beginning on July 1 and ending on June 30 each year (not the calendar year), the Foote Fund raises money that becomes part of the operating budget. It pays for:
books and computers in the Perrine Library
the cost of the field trips that make learning come alive
microscopes in the science lab
soccer balls and lacrosse sticks
and much more!
All members of the Foote School community are encouraged to participate by contributing to The Foote Fund each year.
The company you work for, or a board you serve on, may match your gift to nonprofit organizations such as Foote, and you get credit for it. Information about matching gift programs is typically available through a company's personnel department.
Endowment funds are similar to savings accounts that generate income from the investment of the principal. For example, a gift to the Jean Lamont Scholarship is placed in the endowment, allowing it to grow and produce income. While the principal is not touched, an annual distribution from the earnings supports the school. A gift to the endowment is NOT a gift to the Foote Fund.
Periodically, the Board of Directors identifies projects that require large sums of money. Foote's last capital campaign raised $12 million, part of which funded the purchase of 3.8 acres of contiguous property for a new regulation-sized playing field. The campaign also funded the construction of the Jonathan Milikowsky Science and Technology Building and the renovation of the Middle School Building. The previous campaign raised money to enlarge the Hosley Gymnasium, build the Sandine Theater and add new classrooms for art and music.
The Foote Fund is used for annual expenses; it helps sustain our outstanding program. Capital funds are used for building and special projects. Endowed funds act as the school's savings account, providing a stable, sustainable source of annual income.