Giving to Summit School
Giving to Summit School is an opportunity for alumni, parents, past parents, grandparents, friends, faculty and staff to demonstrate to our students and to the community that our school is their charity of choice. This philanthropy showcases to all that we find the school’s mission so compelling that we are committed to support its goals. As with all independent schools, tuition only covers a portion of the cost of education. Tuition alone cannot support the research-driven curriculum, thriving fine arts programs, and essential social and leadership development opportunities that are the foundation of Summit School. Simply put, Summit School must rely on the voluntary gifts of its own community to fulfill its mission. As a result, this philanthropic support covers the gap between tuition and the true cost of providing our children with small class sizes, low student-to-teacher ratios and Summit’s extraordinary curriculum and programs. Through such generosity, Summit is able to provide the best faculty and a diverse curriculum that differentiates Summit from other schools.
Summit Annual Fund
If you would like to donate to the Summit School Annual Fund, please use the Paypal button below. Summit is a 501(c)(3) non-profit, thus donations qualify as a charitable donation. *Please note: Tax credit contributions for The Arizona Private School Tax Credit must be made directly through a school tuition organization such as The Institute for Better Education and not through PayPal. The private school tax credit is a dollar-for-dollar credit on the Arizona state tax return, and may qualify as a charitable donation on a federal tax return. To learn more contact Summit or visit: www.ibescholarships.org.
The Annual Fund: What it Is and Why it Is Important
The Annual Fund is the main source used to cover the gap between tuition and the overall cost of running the school. We depend upon the Annual Fund not only to meet basic operating needs of the school but also to enhance programs and opportunities offered to our students and faculty. Additionally, high levels of participation in Annual Fund giving are a staple at all high-performing independent schools, allowing for maximum flexibility to create, develop, and maintain the pre-eminent learning and teaching environment that our community has come to expect. This Fund helps to ensure that Summit School maintains:
- An outstanding faculty
- A diverse student body
- An exceptional curriculum
- Consequential leadership and developmental opportunities
- A rich variety of fine arts programs
- Facility improvements
Annual Fund and Tuition
Summit School has made the conscious decision not to raise tuition to meet all of the operating expenses of the school. We have done this because tuition is not tax-deductible for families, so raising tuition to cover expenses provides no added benefit to families. A strong Annual Fund helps keep tuition increases at a minimum and allows for an added tax deduction for families.
Annual Fund and Ways to Give
This fund begins each year on July 1st and ends on June 30th. There are three ways to give to the Summit School Annual Fund:
- Donate at the Fall Event
- Donate at the Spring Gala
- Donate directly to the school throughout the year
It is our expectation that every family will give according to their ability, so we have identified different giving levels in order to assist our community in this effort and achieve 100% participation. No gift is too small. All donations are appreciated. Provided below are the different levels of giving that have been developed for the Annual Fund:
Annual Gift Levels:
- Legacy Society $10,000 and above
- Star Society $5,000 – $9,999
- Phoenix Society $2,000 – $4,999
- Leadership Society $1,000 – $1,999
- Community Society $1 – $999
Other Ways to Give
Arizona Tax Credit Program
We strongly encourage school supporters to give to both the Annual Fund and the AZ Tax Credit Program. We suggest, however, that if you can give to only one that you direct your donation to the Annual Fund. The Annual Fund offers a tax-deductible way to give an unrestricted gift to help bridge the gap between tuition charged and the actual cost of operating the school. The Arizona Tax Credit program provides a dollar-for-dollar reduction on your taxes, essentially transferring part of your tax payment to fund scholarships for deserving students, and it serves as a restricted gift to the Summit’s financial aid program.
Employer Matching Programs
Many corporations offer a matching gift program for their employees’ contributions to non-profit organizations such as Summit School. You may contact your company’s personnel or Human Resources office to obtain a matching gift form and procedures, and enclose this form when sending your gift to the school. You will be credited for the amount of your donation plus the amount of the match as part of the Annual Fund program.
Non-monetary gifts such as books for the library, furniture, equipment, or other items and services for our Annual Spring Gala are welcomed and appreciated.
Gifts of Time
Volunteer time is deeply appreciated by the school and cannot be measured in its value.
Ways To Give
The Summit Fund
Everything we do at Summit is possible because of your support and contributions to the Summit Fund, which touches many lives and gives all of our students the strong foundation needed to become leaders. Your generosity has helped perpetuate Summit’s growing tradition of academic excellence for today’s students and tomorrow’s graduates.
What is the Summit Fund?
The Summit Fund is the school’s most vital and basic fundraising effort. Our school relies on unrestricted gifts to the Summit Fund to help provide an outstanding educational experience for our children. Tuition only provides about 90% of the cost to educate a child, leaving a gap of approximately $2,000 per child. Offering a dynamic, hands-on learning program staffed by dedicated and experienced teachers requires resources beyond tuition. Summit does not receive any state education funds, and as a non-profit organization, we depend upon the financial support of our community.
Why give to the Summit Fund?
The Summit Fund is critical to sustain the program and operations as well as influence the future growth of our school. Gifts to the Summit Fund enable you to provide support for the many programs, specials, technology infrastructure, scholarships, faculty development, and facilities improvements.
How can I give to the Summit Fund?
We are asking that all of our families contribute in some way to the Summit Fund. We understand that all gifts made to the Summit Fund will not be equal. However, all gifts made to the Summit Fund do make a difference and demonstrate an understanding of and commitment to the needs of Summit. In order to keep the Summit Fund a priority, we ask that each family participate as much as possible.
Summit Fall Celebration: Every year the Summit Board of Trustees sponsors our Fall community event. Summit Challenge Dinner & Auction: Our annual Summit Challenge is our largest fundraiser of the year. This community event raises hundreds of thousands of dollars to help support the many programs at Summit. Last year’s event was held in April at a local hotel. The auction had numerous live and silent items to bid on, including “must-have” teacher experiences and amazing art created by your children.
Special gifts support Summit School’s long-term strategic goals such as campus expansion, technology adoption, and athletic programs. Contact the board to learn more.
Share your legacy by including the Summit Fund in your estate plan to ensure a future of excellence and community for Summit School. Endowments are a way to leave your mark on Summit School for years to come.
Arizona’s Private School Tax Credit
The Arizona Private School Tax Credit is a simple and effective way to give to Summit’s needs-based scholarship program, allowing qualifying students access to the highest quality education. Arizona’s tax credit law allows donors to take a dollar-for-dollar tax credit on the Arizona state tax return. Maximum limits apply for both single / head of household tax payers and those filing a joint tax return. The limits increase annually. For the current maximum donation, and to make a tax credit donation go to: The Institute for Better Education. Please designate Summit School as your school of choice. Through your tax credit contribution, Summit will be able to continue assisting more students who are in need of tuition scholarships during the upcoming school years. We most gratefully thank you on their behalf.
The United Way of Arizona giving campaign can also help our school. Donations made through your corporation can be designated to Summit School by including our agency code (1687) on your pledge card.
Corporate Matching Gifts & Volunteer Matching
Many companies offer matching gift programs that amplify the impact of your personal contributions without increasing your financial obligation. Most participating companies will match your gift dollar for dollar. Many companies offer volunteer matching programs that provide much-needed dollars to schools based on the number of hours volunteered by their employees.
GIVING TO THE PRIVATE SCHOOL TUITION TAX CREDIT
Arizona tax law (A.R.S. AZ 43-1089) gives Arizona taxpayers a dollar-for dollar tax credit on their state income tax obligations, for donations made on behalf of a school, through a qualified School Tuition Organization (STO). Summit School is proud to partner with two qualified STO’s: The Institute for Better Education (IBE), and Arizona Tuition Connection. TAX CREDIT donation through the Arizona Tuition Connection or The Institute for Better Education, on behalf of Summit, provide the funds for needs-based scholarships given to Summit Students! In the past six years Summit School has awarded over 200 needs-based scholarships to students. The majority of the funding for scholarships is derived from Arizona taxpayers who have contributed to the Arizona’s Private School Tax Credit Program. Those scholarships have allowed children from all walks of life to experience an outstanding private school education at Summit School. Arizona state tax law states that 90% of the tax credit donations made to IBE, on behalf of a private school, go directly to qualified students attending member schools.
THE MAXIMUM ANNUAL TAX CREDIT DONATION, MADE ON BEHALF OF A PRIVATE SCHOOL OR PRIVATE SCHOOL STUDENT, FOR THE 2018 TAX YEAR:
- Married couples filing jointly can receive an annual dollar-for-dollar tax credit on their Arizona tax return, for donations up to $2,213.
- Single or head of household taxpayers may receive an Arizona tax credit for contributions of up to $1,107.
- Donations made by April 15, 2019 will qualify as a credit on the 2018 Arizona tax return.
Arizona taxpayers may also qualify for other state tax credits, such as donations to a public school, and organizations that assist foster children and the working poor. Tax Credit donations can be made in minutes on the website through The Institute for Better Education. When making your tax credit contribution, please designate Summit School as your school of choice. Through your tax credit contribution, Summit will be able to continue assisting more students who are in need of tuition scholarships during the upcoming school years. We most gratefully thank you on their behalf.