Frequently Asked Questions
Why Give to The Pingry Fund?
Pingry continues to provide the finest education possible, offering its students the advantages necessary to transform today’s young minds into tomorrow’s leaders. Year after year, Pingry students are National Merit finalists, Honor Society inductees, state and conference athletic champions, and accepted into the nation’s finest colleges and universities. These are quality indicators of performance, yet the pressure of Pingry’s operating budget makes achievements like these more and more challenging each year. By providing needed funds, gifts to The Pingry Fund have an immediate impact on students, faculty, and programs at every level of the Pingry experience.
Where do my dollars go?
Gifts to The Pingry Fund provide the general operating budget with unrestricted money that is used in the current fiscal year to support the school’s highest priorities. This includes, but is not limited to: professional development for our faculty, new technology in the classrooms, enhancements to our music programs, support of our athletic teams, and financial aid for our current students. The greatest strength of these funds is that they enable the school’s Administration and Board of Trustees to react quickly to our students’ needs on a daily basis with a degree of financial flexibility. In total, The Pingry Fund accounts for approximately 6% of the school’s operating budget each year.
Does Tuition Cover the Cost to Educate Pingry Students?
There is a gap of $7,000 between tuition and the actual cost of educating each student. With an enrollment of 1,079 students this year, that adds up to $7,553,000. Tuition provides 82 percent of the cost to educate a student. Endowment income, revenue from auxiliary services, and private donations, including those to The Pingry Fund, from alumni, parents, faculty and staff, grandparents, and friends must make up the remaining 18 percent. It would take the income from more than $85 million in endowment to replace what Pingry Fund donors contributed last year. For example, a gift of $45 to The Pingry Fund replaces $1,500 in endowment.
Is my gift tax-deductible?
Yes! Pingry is a non-profit, tax-exempt organization. Gifts are deductible for federal income, gift, and estate tax purposes under the applicable sections of the Internal Revenue Code.
Ways of Making a Gift
There are many ways a donor can make a gift to The Pingry Fund. For a complete list of options please click here.