FREQUENTLY ASKED QUESTIONS

A: Annual Giving is a fundamental program of Waterford designed to meet three purposes:

1. It enables those with financial means to contribute more readily and substantially to the school. It is worth noting that Annual Giving contributions are tax deductible.

2. It allows the school to keep tuition as low as possible.

3. It enables parents and others to express appreciation, a core value instilled in Waterford students.

A: There are three ways. Individuals can contribute to Annual Giving which happens during the Fall each year. They can also contribute to the Waterford Scholarship Program which helps students who could not otherwise afford a Waterford education to attain one. Individuals can also contribute personal time through many varied and valuable volunteer opportunities.

A: Waterford allows for a portion of the tuition paid by a teacher for his or her children to attend Waterford to be reimbursed. The amount of the reimbursement is based on the individual financial situation of the teacher and is re-calculated annually by an independent industry body.

A: The Tuition Remission Program enables Waterford to attract and retain the best teachers available. Tuition Remission is regarded by teachers as an outstanding benefit. As such, it positively impacts the quality, loyalty, continuity and diversity of the teaching staff.

A: No. Scaling the program back would actually require raising tuition to make up the difference. Currently, the Tuition Remission Program delivers $1 million in benefit to teachers annually while only costing the school $250,000. Trimming back on this benefit would necessitate an increase in teachers’ salaries to make up the shortfall. This hard dollar increase would require a commensurate tuition increase.

A: Not at this time because the school is not oversubscribed. However, to preserve the quality and longevity of the teaching staff, Waterford has no plans to lessen the Tuition Remission Program even if the supply of outside enrollees increases.

A: The school is a non-profit organization governed by a volunteer Board of Trustees. The Board's responsibilities are to oversee finances, approve policy and appoint leadership, including appointing and reviewing the performance of the Head of School. The Head of School is a member of the Board and reports to the Board.

A: No. Waterford is not owned in whole or in part by any individual or entity nor is it organized in such a way that it can be owned.

A: Not at this time. The school is efficiently run. Each year the school is audited by a professional accounting firm. On a regular basis, the Waterford Finance Committee reviews all school financials in detail to scrutinize spending and budgets. The Finance Committee considers Waterford one of the best run non-profit companies it has ever reviewed.

A: The primary difference can be seen in the quality of the education provided—principally a result of Waterford’s having twice the number of teachers per student—which is a more stimulating curriculum and more expansive programs. It is worth noting that Utah’s quoted per student cost estimate does not include the costs of land, buildings, maintenance or transportation, all of which are contemplated in Waterford’s tuition. Labor costs (teacher salary and benefits) account for 65% of the annual tuition at Waterford, or approximately $8,450.

A: There is no business or organizational relationship between the two entities. Waterford Institute was founded in 1976, 7 years before the founding of the WaterfordSchool. The Institute has contributed roughly $15 million to the WaterfordSchool over the past 21 years in land, building and curriculum development. The Institute contributes approximately $200,000 annually in ongoing educational research and curriculum enrichment. Dustin Heuston serves as the CEO of the Waterford Institute.

A: Under the direction of the Board, the Parent Advisory Committee, or PAC, is responsible for overseeing the creation of the School’s strategic plan as well as fundraising activity and the school financial plan. All recommendations from PAC must be approved by the Board of Trustees.