Why does The Foundation need financial support?
We rely on two sources of income: our fees and a nominal endowment. Today’s endowment, the portfolio of property and other investments we hold provide a much smaller percentage of operating revenue than many realise. There has been too great a reliance on fee income which is simply not sufficient to protect our overall excellence and independence and visionary plans.
By donating to The Prior Foundation you are helping its future by enabling us to provide more Bursaries to deserving pupils, to develop our magnificent Grade 1* listed buildings and to update our facilities.
If the school needs more money, why not just increase school fees?
School fees pay for the everyday running costs of the schools which includes teaching salaries, catering, maintenance, cleaning, security, administrative support and other costs. The Prior Foundation remains committed to offering a competitive, value for money education so we are reluctant to raise fees for this purpose. This means we look for other ways to enhance the facilities and environment for the pupils.
Can you guarantee my donation will not be used for running costs?
The Prior Foundation has an obligation to honour your wishes and use the money you donate for the stated purpose. If you do not state where you would like your money used, we will use it to add value to the most important area of need at that time.
Can I make a tax efficient gift?
The Prior Foundation is a registered UK charity and can claim back the tax paid on donations made by UK taxpayers, through the HMRC Gift Aid. If you are a UK taxpayer we could claim an additional 20p for every £1 you donate at no additional cost to yourself. In order for your gift to qualify for Gift Aid you will need to be a UK tax payer and pay at least a sum of UK income or capital gains tax equal to that which we will claim back on your donation.
If you are a higher rate taxpayer, either at 40% or 50%, you can also claim the difference between the basic rate of tax that the Foundation reclaims and the highest rate of tax you pay on your Self Assessment form.
How can I make a gift if I live outside of the UK?
If you are a non-UK resident you can make a gift by bank transfer. In order to do this please contact the Development Office.
If however you live in the US and would like to make a tax deductible donation to The Prior Foundation you can do this by forwarding your donation to the British Schools and Universities Foundation (BSUF). BSUF is a well established Foundation which was formed to allow US residents to make tax deductible donations to UK educational institutions.
How do I make a bequest to The Prior Foundation?
A gift in your will is one of the most tax-effective ways of supporting us. Whether in the form of a specified sum of money, a particular asset, or a proportion of the remainder of your estate, your gift will be free of UK Inheritance Tax. Whether as a mark of affection or an act of gratitude, it is an act of generosity that will live on after you and help secure the future for generations to come.
If you are thinking about including a gift in your will, or would like to discuss it, or if you have already made this special commitment, please ensure the Development Office is aware of your intentions.