Financial Assistance - Sponsor-A-Child

CHALLENGE

Financial difficulties are a reality for more and more Americans in various income levels. Academy leadership envisions that every student who demonstrates a true desire to attend be given every opportunity to do so, regardless of their family’s financial need. Support is needed to fund this vision.

FACTS

• Almost 360 students currently receive tuition assistance to attend the Academy
• The average tuition assistance grant is $5,300 annually
• An independent, third party organization determines annual grant needs
• The Academy funds approximately 50 percent of the grant needs identified by the third party administrator

SOLUTION

Strategic planning has identified a goal to fund 100 percent of all financial hardship aid from its endowment, which would require a $30 million-plus value. The goal of the PCA Initiatives is to fund $2 million of the endowment. While the PCA Initiatives does not carry any specific monetary goal for this purpose, strategic planning has also identified a second endowment with a $20 million value, with proceeds to limit future tuition increases. Future campaigns will carry goals to help fund this endowment. In addition, annual support is needed to fund this need while the endowment is being funded; $600,000 annually over six years has been established as the PCA Initiatives goal.