Capital and Endowment Gifts

There is an old adage that says, “tuition doesn’t build buildings, gifts do.” While tuition covers the majority of the day-to-day costs incurred in an MKA education, it is capital gifts that fuel the renovation and construction of the school's facilities. It is for this reason that MKA seeks gifts, sometimes within the context of a “campaign,” to ensure that we can continue to provide the very best resources for our students. Past capital projects such as the renovation of Van Brunt Field, construction of the Peter R. Greer Arts Wing and the installation of state-of-the-art science labs/network capabilities were completed largely through the generosity of benefactors. Current renovation of the Penick Center at the Middle School is underway and is being funded completely through gifts. As we move forward with upgrading and building facilities in accord with the Strategic Plan, gifts will play a pivotal role in determining our success in achieving those goals. 

Strong endowment growth ensures that MKA has the financial stability to continue its tradition of excellence well into the future. Endowment funds are segregated trust accounts usually designed for specific projects or programs, or for the school program as a whole, and these funds are similar to savings accounts or other financial assets that generate income. While the principal of the fund remains untouched, the income generated provides revenue to sustain programs and many other areas of school life. General endowment helps support the overall financial health of the school, while specific endowed funds can support financial aid, faculty, programs and facilities. Ideally, income from a growing endowment can enhance the operating budget and help moderate tuition increases or provide crucial funding for scholarships and financial aid, which MKA highly values in its ongoing commitment to diversity. Increasing MKA's endowment, through investments and fundraising, will always be a strategic priority.

The creation of named endowed funds offers donors the opportunity to recognize the special role MKA, The Kimberley School or Montclair Academy played in their lives, or to commemorate a beloved teacher, classmate or family member while helping to build the school's endowment. MKA welcomes additional gifts to existing endowments as well as the creation of new named funds with a minimum donation of $100,000. MKA also has a “Family Funds” program that gives families or individuals the opportunity to established named funds with an initial commitment of $25,000. Revenue from Family Funds supports the general operating budget of the school, but when the value of the fund reaches $100,000 it can be designated for a specific purpose – supporting financial aid, faculty, programs or other initiatives of the family's choice.

For more information on MKA's capital and endowment needs, please contact: Geoff Branigan, Director of Development & External Affairs, at gbranigan@mka.org or at 973-509-7940.