THE CLIPPER FAMILY OF FUNDS
QUESTIONS & ANSWERS ABOUT
XAVERIAN’S ANNUAL CLIPPER FUND CAMPAIGN
What is the Clipper Fund?
The Clipper Fund is the “gift every year” that Xaverian counts on from our family—alumni, parents, grandparents, trustees, friends and faculty—to help underwrite the cost of a Xaverian education. As the budget expands to meet the growing demands of our student body, the Clipper Fund serves as Xaverian’s largest source of unrestricted income allowing us to provide the stellar Catholic education we are known for.
Why does Xaverian have the Clipper Fund?
Like all Catholic schools, tuition alone does not cover the cost of providing a Xaverian education. Not only do we need to close the gap, but also, need to have funds available to provide for financial aid, professional development for faculty and staff, and capitalize on opportunities to enhance our academic, spiritual, extra-curricular and athletic programs.
Why not simply raise tuition?
There are tuition increases that help augment growth in faculty salaries and school-wide programs. But, Xaverian could not raise tuition to cover the full cost without limiting the number of qualified students who could afford to attend. Tuition is also not tax deductible. A gift to the Clipper Fund is (as allowed by law).
Can Xaverian cut expenses?
The Board of Trustees works in collaboration with the President to set budgets and closely examines School expenditures. Any cut that would undermine academic, spiritual, extra-curricular and athletic opportunities would negatively impact a students’ experience at Xaverian.
Specifically, what does the Clipper Fund support?
The Clipper Fund supports operations. It helps offset departmental and extracurricular budgets; provides for investments in technology and professional development. It also provides much-needed financial aid for deserving students. This year, we are introducing our Clipper Family of Funds, and you can designate your Clipper Fund gift as follows:
- Acorn Fund—funds will be designated by the Xaverian administration and used where most needed;
- Faculty Development Fund—helps provide educational opportunities for faculty & staff;
- Financial Aid Fund—helps provide tuition assistance for deserving students otherwise unable to afford a Xaverian education;
- Genesis Fund - helps underwrite the cost of operating our middle school program;
- Science & Technology Fund—helps purchase iPads and other equipment; helps to maintain and improve the infrastructure of Xaverian’s technology network;
- Campus Ministry Fund—helps underwrite Retreats, our Thanksgiving Dinner for the underserved in our community, the Appalachian service retreat project in West Virginia, the Urban Challenge Retreat in New Jersey, and other opportunities for spiritual growth;
- Performing & Fine Arts—helps purchase music and artistic equipment and helps underwrite performance costs for concerts both overseas and nationally, including the White House and the Nationaly Gallery of Art in Washington, D.C.;
- Athletics & Physical Education—helps purchase athletic uniforms, equipment, and helps cover the cost of transportation to and from athletic events;
- Facility Maintenance-helps meet utility costs, upkeep of classrooms, gymnasium, auditorium and other areas within Xaverian
How much should I give and when?
Philanthropy is personal. We do ask that you be as generous as your means allow. All gifts to the Clipper Fund, regardless of size, are most welcome and extremely important. Everyone’s participation is needed because there is Power in Numbers!
Xaverian’s Fiscal Year runs from July 1st through June 30th, and if you would like to make a tax-deductible gift for the present year, please do so before December 31st.
How can we make our gift to support the Clipper Fund?
Xaverian is a 501 © (3) not-for-profit institution and gifts are tax deductible as allowed by law. You can make your gift as follows:
- Check made payable to Xaverian
- Online at www.xaverian.org/donate
- Credit Card—We accept American Express, VISA, MasterCard and Discover
- Gifts of Securities—Please contact the Office of Advancement for information
- Matching Gifts—Some employers match gifts to Xaverian. Consult your HR Department.
In addition to the Clipper Fund, are there other ways to support Xaverian?
Yes. Xaverian always has capital and programmatic needs beyond the Clipper Fund that require significant immediate funding or deferred gifts made through The Whitcome Society, Xaverian’s Planned Giving Society. Please contact Vincent P. Torti, Director of Advancement via phone at (718) 836-7100 x119 or via e-mail at firstname.lastname@example.org.
Click here for a list of the various societies defined by the amount donated.
Please click here to donate online.
Long-time Faculty Member, Mr. Joe Verde, explains why support of the Clipper Fund is critical for the success of Xaverian and its students: