Frequently Asked Questions
Why does Monmouth School need financial support?
Monmouth School relies on two sources of income: fees and endowment (The William Jones’s Schools Foundation). Fee income covers teaching and maintenance costs and provides half the amount needed to fund our current bursary obligations.
This leaves little or no money to maintain our heritage buildings and build new and state of the art teaching and learning facilities to keep us competitive.
What about the William Jones’s Schools Foundation?
It is the belief of many that the endowment provides all the money needed to fund bursaries and continue to maintain the buildings. This is far from the case with endowment money covering only half the current bursary and scholarship commitment. The Haberdasher’s Livery company are trustees of the endowment but do not provide the School with any other money. See our ‘Case for Support’.
Why can’t the School use endowment income to pay for new buildings?
The School has already ‘drawn down’ funding from the endowment to help pay for Heart1 – the new William Jones building. This has however come at a price and the amount the School receives annually from the endowment (which it uses to fund bursaries) will now be reduced to reflect the reduction in capital. It is unlikely that the trustees would allow the capital to be further eroded. It is now up to Monmouth School to ask its supporters for help.
Can I make a tax efficient gift?
Yes. Monmouth School is a registered charity, no. 525616. UK taxpayers, utilising Gift Aid, will substantially increase the value of a gift to Monmouth School whilst also reducing their own cost. Here are some examples:
|Net Payment to Monmouth School||£1,000||£10,000||£100,000|
|Tax reclaimed by MS (Basic Rate + Transitional Relief)||£250||£2,500||£25,000|
|Value to MS (Gross Donation)||£1,250||£12,500||£125,000|
|Higher Rate relief to you||£375||£3,750||£37,500|
|Your net cost as a Higher Rate taxpayer||£625||£6,250||£62,500|