web analytics
August 2, 2015 / 17 Av, 5775
At a Glance
InDepth
Sponsored Post


Home » InDepth » Op-Eds »

Fighting The Tuition Crisis With Financially-Driven Parent Volunteer Programs

Goldstein-071312

A recent CNN Money article focused on how more students than ever are requesting need-based financial aid from the private schools they attend. “Private schools are getting flooded with financial aid applications, and a growing number of the parents seeking help are earning $150,000 or more a year,” the article stated. It also pointed out that “overall, the average cost of tuition at private schools across all grades is nearly $22,000 a year, up 4% from a year ago and 26% higher than it was in the 2006-07 academic year, according to the National Association of Independent Schools.”

To make matters worse for private day schools, the recession of the past few years has adversely affected the fundraising numbers in many of these schools, especially in the geographical areas hardest hit. And if that wasn’t bad enough, once again the Obama administration, for a fifth time has proposed lowering the income tax deduction for charitable giving. By decreasing the value of itemized tax deductions for higher-income taxpayers, the president’s proposal would weaken the incentive for the wealthy to give to private day schools and other non-profit organizations.

In light of these developments, schools must consider new and innovative ways to increase income and reduce costs in order to maintain financial stability and fiscal health. One approach that should be considered is to institute a parent volunteer program. There are many schools throughout the country that have established parent volunteer programs. However, the central purpose of many of these programs is to benefit the educational quality of the school. That’s the objective behind Three for Me, a national parent volunteer organization running in thousands of schools across the U.S.

While enhancing educational quality through parent volunteer efforts is certainly worthwhile, schools should consider making financial goals the primary objective of such a program. By using the time and efforts of the parent body, schools can effectively convert hundreds of parent-hours into thousands of dollars in revenue and savings – in essence, monetizing the massive amount of man-hours of the parent body.

Many school administrations are already overworked and understaffed, so in order for such a program to succeed it would need to be low maintenance and easy to manage. Further, in order to generate the necessary volunteer hours to have a financial impact, parent participation would need to be made obligatory (staff excluded). There is a case to be made for making participation voluntary for full paying families while making financial aid grants conditional on participation. It is not unreasonable to ask the beneficiaries of financial aid to give a small amount of their time back to the school each year. However, in many schools, the perceived disparity would be a non-starter.

A little over ten years ago, the school I manage instituted such a program. We made participation obligatory for all families receiving tuition assistance and voluntary for all full-paying families. Staff was exempt. The results of the program are compelling. From a pool of approximately 200 parent volunteers, annual gross revenue raised totals on average $170,000 while annual costs savings total on average $30,000. The program’s methodology has been fine-tuned over the years so that today not only has it become a vital part of our operating budget, it takes a relatively small amount of time to administer.

Either way, undertaking and implementing such a program is a serious commitment. While the program is not difficult to manage once it is up and running, it can be somewhat time consuming to establish. In addition, there is no doubt that many parents will be less than happy with this new obligation. But by having the parents give back a minimum of one or two hours each month, the increase in revenue and cost savings can bring great financial relief to the school especially in these very difficult economic times.

Finally, it should be pointed out that this is only part of an overall solution. Schools need to adapt many of the best practices in corporate management in order to grow and thrive. Foremost is implementing strong and effective internal and financial controls and then training the staff with the knowledge to execute these controls properly. This should be done in conjunction with establishing proper governance and long-term strategic planning with active parent involvement.

About the Author: Jake (Yaakov) Goldstein is a CPA and part-time consultant for day schools and non-profit organizations. He is also the executive vice president of Torah Institute of Baltimore. He can be reached at jakegolds@gmail.com.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

No Responses to “Fighting The Tuition Crisis With Financially-Driven Parent Volunteer Programs”

Comments are closed.

Current Top Story
Tourists seen walking at the Dome of the Rock on the Temple Mount in Jerusalem.
Visitors Allowed at Temple Mount Despite Arab Violence
Latest Indepth Stories
Jonathan Pollard.

Jonathan remember, as long as you’re denied your right to come home to Israel you’re still in prison

Inside of the home burned in the Prce Tag attack in the village of Duma.

Reports of a dead baby, a devastated family, and indications of a gloating attacker.

Silhouette of "hilltop settler."

“Yesha” and Binyamin Regional Council leaders said the attack “is not the path of Jews in Judea and Samaria.”

Schwartz-073115

The occasion? The rarely performed mitzvah of pidyon peter chamor: Redemption of a firstborn donkey.

American leftists have a pathological self-inflicted blindness to the dangers of political Islam

Hillary should THANK Trump; By dominating the news he’s overshadowed the implosion of her campaign

Hard to remember when Jewish youth were so hostile to their heritage as they are on campuses today.

Names of the enablers of Iran’s Nuclear weapons will be added next to Hitler’s on the list of infamy

By most accounts, the one person with the political muscle to swing enough Democratic votes to override a veto is Sen. Schumer.

The next day, in a speech in New York to the Council on Foreign Relations, Mr. Kerry substantially upped the ante.

In Israel, the judiciary has established itself as superior to ALL other branches of the government.

The Fifteenth Day of the month of Av became a day of national rejoicing. The moment that had seemed hopeless became the moment of Redemption.

I think the melodies in our religious services have a haunting sound to them that just permeates your guts and gets into your soul. If you have any musical inclination, I think they inspire you to compose.

Cavalier analogies to the Holocaust are unacceptable, but Huckabee’s analogy was very appropriate.

More Articles from Jake Goldstein
money

How much wealth exists in the American Orthodox community?

praying robber.jpeg

The pressure to live a lifestyle of the rich and famous can be overwhelming. This just serves, of course, to increase the risk of fraud and deceit.

One of the hottest topics across all spectrums in the Jewish community is the financial sustainability of Jewish day school education in America. Schools have invested a lot of time and resources to train their professionals in the art of fundraising, developing donor relationships, and launching effective capital campaigns. And there has been a concerted effort among Jewish educational organizations to establish programs to assist day schools in improving their governance and developmental practices.

Many American parents are passionate about providing their children with opportunities to participate in sports and develop as great athletes. A recent article in the Financial Post posed the question “Are your kids’ athletic dreams worth breaking the bank for?” For parents of elite athletes, the costs can be astronomical. Such parents designate “tens of thousands of dollars of their household budget to help their child’s athletic career blossom, a sacrifice that impacts everything from daily spending to retirement.”

A recent CNN Money article focused on how more students than ever are requesting need-based financial aid from the private schools they attend. “Private schools are getting flooded with financial aid applications, and a growing number of the parents seeking help are earning $150,000 or more a year,” the article stated. It also pointed out that “overall, the average cost of tuition at private schools across all grades is nearly $22,000 a year, up 4% from a year ago and 26% higher than it was in the 2006-07 academic year, according to the National Association of Independent Schools.”

Printed from: http://www.jewishpress.com/indepth/opinions/fighting-the-tuition-crisis-with-financially-driven-parent-volunteer-programs/2012/07/11/

Scan this QR code to visit this page online: