Frequently Asked Questions - Giving to Lipscomb Academy
The unique nature of Lipscomb Academy combines academic excellence with an unwavering emphasis on Christian spiritual formation and a commitment to providing a well-rounded educational experience for our students. The partnership of administrators, faculty, staff and families has provided the means to our success as an educational institution for more than a century. Our goal is to continue to provide the best Christ-centered education available and to equip our students for life beyond the classroom.
Independent Christian schools operate differently from public schools in several ways. The following information will explain some of the inherent differences and answer some commonly asked questions. It will also address the responsibilities our Lipscomb Academy parents have in providing resources to ensure the best possible programs and facilities for our students today and to ensure that future generations of students will benefit from a Lipscomb education.
Who owns Lipscomb Academy?
Lipscomb University is chartered as a non-profit corporation 501(C)(3). No one person or group of people owns the school. The Board of Trustees, none of whom are employed by Lipscomb University, establishes broad general policies under which the school operates.
Who runs Lipscomb Academy?
Because the school is a part of Lipscomb University, the Lipscomb University Board of Trustees defines the nature of the school and seeks to assure its well being. The Lipscomb Academy Board Committee is directly involved in financial and operational decisions and is committed to the success of the campus school. The Board hires the President, who in turn appoints the Headmaster for Lipscomb Academy. The Headmaster is responsible for overseeing the operation of Lipscomb Academy and is a member of the President’s Senior Leadership Team.
How does the school receive the financial resources needed to run Lipscomb Academy?
The school receives money from these sources: tuition and other fees, contributions from parents, alumni, faculty and staff, grandparents, friends, foundations, and auxiliary sources such as parent organizations.
Why does the school ask for contributions?
Tuition does not fully cover the expenses incurred by the school each year. As with most private schools, contributions are needed to meet our annual expenses, and to improve and add programs and facilities for our students. The Lipscomb Academy Annual Fund has been established to provide resources for academic and athletics programs, and facilities improvements throughout our Elementary, Middle and High School.
Do most families give in addition to paying tuition?
Yes. Throughout the history of Lipscomb Academy, generous supporters have made annual gifts as well as given for comprehensive facilities improvement programs. This level of commitment is essential to meet our financial obligations, enhance and expand our programs and facilities and plan for future capital campaigns.
Ours is not a school built by a few wealthy families, but by many generous families who have given throughout the years. Your child is reaping the benefits today of donors whose children have long since graduated from Lipscomb Academy. These families sacrificed to ensure the successful future of Lipscomb Academy. Today’s families must continue and build upon this heritage of commitment.
How are contributions made?
Gifts of cash, appreciated stocks, and gifts in- kind can be made to Lipscomb Academy. Long term contributions are made by naming the school as a beneficiary of a will, a trust, or a life insurance policy.
Are gifts tax deductible?
Yes. As a 501(c)3 non-profit organization, contributions to Lipscomb Academy are acknowledged in writing and are deductible to the full extent of the law.
Who can answer additional questions about gifts to Lipscomb Academy?
Art Woods, Associate Headmaster for Development, will be happy to talk with you regarding giving to Lipscomb Academy . He can be reached at (615) 966-5051 or Art.Woods@lipscomb.edu.
For questions regarding gifts through estate planning contact Paul Stovall, Director of Gift Planning at Lipscomb University, (615)966-5251 Paul.Stovall@lipscomb.edu