Giving for all via endowed Honours
A common practice in independent schools is to seek donations for a building project, piece of equipment or a new facility. The Knox School believes there is another way to invest in its students’ educational opportunities.
The idea of establishing endowed Honours, particularly Prizes and Awards, is a new focus of the School. The sum needed to endow Prizes and Awards is modest compared to endowing a Scholarship, Fellowship or Bursary. For example, to endow a Prize is $5,000 and to endow a Scholarship needs $400,000.
Endowing prizes and awards at all levels of the School from Prep – Year 12 means different constituents (families, friends, staff, past staff, alumni etc.) realise all sections of the School are valued. It also facilitates discussion and innovation about what is needed to support the curriculum and co-curriculum in different parts of the School.
The stories attached to the establishment of an endowed Honour will help the Falcon Philanthropy Group promote endowments and the notion of giving as a proud tradition. Such stories will also add a different dimension to the history of the School and are an important part of its next stage of maturity.
Endowing Prizes and Awards helps establish a culture of philanthropy in the School because:
- allows a wider range of people to be involved because the sums are smaller
- involves the staff who need to have input into the sorts of Prizes and Awards appropriate to support the curriculum and co-curricular activities
- involves the Falcon Philanthropy Group to manage the connection between the School and the donor
- involves the administration team that needs to manage the records (database) and donations
- involves the Board because it gives final approval
- involves the Comms and PR team who can help tell the story to the wider community
- can be mentioned at the annual Presentation (Speech) Night thus further embedding the notion of families (donors) supporting the School
Additionally, endowing such awards is about the future and donors can feel proud their gift will be invested in perpetuity and the benefits for students will be lasting. Donors who give to an endowment know their donation will bring reward and satisfaction for many years in the future.
These Honours can be named or be anonymous and are defined as:
- Prizes – for academic achievement/ progress
- Awards – for non-academic achievement/ progress
- Fellowships – to support teacher professional development
- Bursaries – fee discount granted on the basis of need
- Scholarships – fee discount granted in recognition of excellence/potential
- Memorial fund – established in memory of a School stalwart; this could be for a combination of any of the above or for one of the above
- Student Initiative – An annual award to support student initiatives. This is not an endowed Honour because the sum will be secured from donations each year.