FAQs About Giving to The Fessenden School
Have a question about making a gift to Fessenden? You may find the answer in this list. If not, please reach out to the Office of Institutional Advancement Office at (617) 630-2310 or advancement@fessenden.org.
Fessenden is a nonprofit organization that operates without financial support from local or federal taxes. The School relies on tuition, annual giving, endowment, and auxiliary income (e.g., summer camps, facility rentals, etc.) to operate.
This is our annual giving fund. Many donors make yearly gifts to institutions that align with their beliefs and values. For nonprofit organizations like Fessenden, annual giving provides unrestricted support that can be directed to the School’s most pressing needs as directed by the Board of Trustees.
Tuition revenue covers about 75% of the cost of a Fessenden education each year. The Annual Fund, along with income from Fessenden’s endowment and auxiliary programs, makes up the difference. The critical unrestricted support from annual giving helps Fessenden address critical needs such as:
- Competitive and compelling faculty salaries and benefits
- Providing financial aid for qualified students
- Supporting academic, artistic, athletic, and extracurricular programs
- Maintaining the School’s facilities, buildings, and grounds
Fessenden is extremely fortunate to have a traditionally dedicated philanthropic community. Financial support from parents, alumni, grandparents, faculty and staff and friends allows Fessenden to provide boys with the excellent teaching, care, and attention that have become the hallmarks of our School.
Absolutely! All gifts, regardless of size, play a part in Fessenden’s success. Beyond providing essential funding, your gift to Fessenden illustrates to others that you value our School and mission.
Although we encourage unrestricted gifts whenever possible, you may establish endowed and special-use funds to support an area of special interest, including faculty compensation, financial aid, or a particular aspect of the school’s academic, arts, or athletic programs.
Periodically, the Board of Trustees identifies a priority that requires a substantial investment that falls outside the scope of the School’s operating budget. These “capital projects” can be realized by a combination of philanthropy and financing. For example: The Fessenden360 campaign raised $32.5 million for several capital priorities, including the Class of 1985 Field, the Kumin-Loring Field, the Goodrich Track, the Ciongoli Center for Innovation, the Roberts Family Squash Center, the William R. Elfers ’63 Center for the Arts as well as the Annual Fund.
Many companies will match an employee’s gift to a school or charitable organization. This is an easy way to increase the impact of your gift and your recognition, as the School will credit you with the total of your gift plus the matching gift. Click here to see if your gift can be matched.
Fessenden is an IRS-designated 501(c)(3) organization. All gifts of cash qualify for a charitable tax deduction in the year of payment as allowable by law. For a gift of appreciated securities, we recommend that you consult your financial advisor regarding tax benefits. Generally, you will qualify for a charitable deduction for the fair market value of the securities on the date of the gift and may be free from having to pay the tax on the capital gain.
Fessenden recognizes donors who give $2,500 or more each year through a leadership giving circle called the Red & Gray Society. Approximately 90% of the total raised to the Annual Fund comes from leadership donors, providing critical revenue for the School to further its mission. Members of the Red & Gray Society are acknowledged in our Report of Giving and celebrated at a donor reception each year.
There are many ways to make a gift to the school. You may give by check, Venmo, or credit card. Gifts of appreciated securities can have beneficial tax implications for the donor. In addition, there are also a variety of ways to help ensure Fessenden's future through a bequest, Individual Retirement Account, or charitable trust. Please visit the Ways to Give page or contact the Advancement Office at 617-630-2310 with any additional questions.
The School’s fiscal year, and therefore operating budget, runs from July 1 to June 30. You may choose to give at any point in the year, and all pledge payments must be received by June 30. Giving earlier in the fiscal year provides the School with the best financial picture to operate effectively.