Investing in Talent - Bursaries
Our mission is to attract the best pupils from the UK and across the world by being able to provide financial assistance to the brightest and best, and to enable them to come to Bromsgrove regardless of their ability to pay. For the first time in its history, Bromsgrove will provide over £1 million in bursary support this year. This is wonderful progress but we have a long way to go before we are in a position to offer needs-blind admissions like the top US institutions. Some families may only need a little help and others may need total fee support. Means tested bursaries are fair because they ensure that fee reductions are given to those who really need it, and every application is assessed individually to ascertain the level of support needed.
We are therefore asking all those who care about Bromsgrove and its future to make a gift through the Foundation so that we can build funds to support bursaries. The Foundation was established in 2007 for this purpose. There are two options for giving: an investment gift to the Endowment Fund will produce a permanent source of income and secure our ability to attract the very best pupils in perpetuity. A donor can also choose to support a child through School over a number of years until the funds are spent.
Our long term aim is to fund the £1m per annum needed for bursaries. This is a bold endeavour but the rewards will be great. At the time of writing, the total Endowment Funds for bursaries is £735,000. An endowment of £15 million would provide an annual income of £600,000, with non-endowment gifts making up the remaining £400,000 to reach the target. Or an endowment of £25 million would fund all bursaries in perpetuity.
Pupils who are sponsored by donation will be named Foundationers. Donors can choose to support a child with a specific talent in academic subjects, music, art or sport, over a two year period (Sixth Form); over five years (Senior School); or over eleven years (from Preparatory School). A preference to support a day pupil, a UK boarder or an overseas boarder will also be respected. We will provide annual feedback to donors who support Foundationers. Many naming opportunities are available, for example, creating a named family Fund for a Foundationer.
We welcome both individual and collective donations to make the funding of specific pupils possible. Groups of donations may come from year groups, House groups, country groups, families or just between friends.
Funding a Foundationer
The current annual cost of supporting one day pupil at Bromsgrove Senior School is just under £13,000. The total required to support one full Sixth Form bursary over two years would therefore be £26,000 and over five years £65,000. For endowment purposes, £325,000 would fund one full bursary in perpetuity (only the income from the endowment would be used to fund the annual fee). (Figures based on 2011-12 fees)
The current annual cost of supporting one overseas boarder is just over £28,000. The total required to support one full Sixth Form bursary over two years would therefore be £56,000 and over five years £140,000. For endowment purposes, £700,000 would fund one full bursary in perpetuity. (Figures based on 2011-12 fees)
Donors who have given (or pledged over a number of years) £20,000 and over, will be invited to the Board of Benefactors and their names will be recorded on a special commemorative board in the new Hospitality Suite. Bromsgrove’s most significant supporters may be invited by the Chairman of Governors to become members of the prestigious Court of Benefactors. All donors will be listed in the annual Governors Report, equally, all requests for anonymity will be respected.
Tax benefits can substantially increase the value of any gift you make to Bromsgrove and reduce your tax bill at the same time. For information on how to make a gift tax effectively and spread it over a number of years, please refer to the Ways of Giving pages for your country of residence. For information on how we will recognise your gift, please refer to the Honouring our Donors pages.
To discuss or make a donation, please contact:
Bromsgrove School | Worcester Road | Bromsgrove | Worcs | B61 7DU
Tel: +44 (0)1527 579679 | Email: firstname.lastname@example.org