9 months ago

Trinity Academy 2017 Annual Report

Read Stories of Stewardship at Trinity Academy.


GIVING OVERALL DONATIONS FOR 2016-17: $392,221 $330,851 $32,000 $7,162 $11,281 $10,927 *Covers the cost of the event ** Legacy (alumni children) Scholarship Fund - The Trinity Fund - Exceptional Evening Sponsors* - Brick Campaign** - Capital Gifts - Camp Trinity Love Local THE TRINITY FUND – $330,851 $232,544 $65,472 $14,165 $13,291 $5,379 - Exceptional Evening - Restricted Gifts*** - Spring Fling Silent Auction and Raffle - Second Empire 5K - Feed the Hunger Love Global *** Technology, Athletics, Tuition Assistance, Landscaping, etc. THE TRINITY FUND - WHY YOUR GIVING MATTERS We have been so blessed and encouraged by the response from our community to the Trinity Fund over the last four years. Since the Trinity Fund’s inception in 2014-2015, we have exceeded our annual goal each year. TOGETHER, we have collectively given above and beyond what could have been given individually. Thank you! When you give to the Trinity Fund, you are supporting our growth at Trinity. The Trinity Fund is directly tied to our strategic plan. A portion of the Trinity Fund is used to fund our operations budget (OPS – see bar graph below) allowing us to continue to offer the quality experience we currently have in a fiscally responsible manner - but the rest is channeled into funding specific efforts that fall under the Strategic Plan Initiatives. As the Lord is leading us to begin the work of raising the funds for our first permanent academic building (Capital Campaign), it will be important that we continue to prioritize giving to the Trinity Fund. This is where participation by our entire community becomes even more important. High participation in an annual fund is an indicator of a healthy school, and it also sends a signal to investors and prospective families that we have a mission worth their investment. That is why we are asking our entire community to consider giving to the Trinity Fund annually. It will help us to continue to meet our annual operating and strategic needs, while also launching a successful Capital Campaign. When more families and individuals participate, the load is shared, allowing others to help fund our growth. 10 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 TRINITY FUND NUMBERS BY YEAR: TOTAL GIVEN $187,483 STRATEGIC INITIATIVES $87,483 $100,000 OPS 2014-15 TOTAL GIVEN $298,265 STRATEGIC INITIATIVES $198,265 $100,000 OPS 2015-16 97% FULFILLMENT 97% FULFILLMENT TOTAL GIVEN $330,851 STRATEGIC INITIATIVES $180,902 $150,000 OPS 2016-17 96% FULFILLMENT Projected 5k and Add’l Gifts YTD STRATEGIC INITIATIVES $168,427 $150,000 OPS 2017-18 YTD TBD% FULFILLMENT How High Can We Go? With four months left in the fiscal year, just think what 100% participation by all Trinity families would mean to our overall Trinity Fund for 2017-18! Capital Campaign Update As was shared during Exceptional Evening 2017, the Board is moving forward with all the necessary behindthe-scenes work to prepare Trinity Academy for a Capital Campaign to build our first permanent academic building. Work continues on this project with a humble desire to listen to the Lord’s leading each step along the way.

STEWARDSHIP FAST FACTS ABOUT TRINITY FUND • The “Trinity Fund” is our “Annual Fund” and coincides with our fiscal year which runs July 1st - June 30th. • Exceptional Evening is the kick-off event for each year’s Trinity Fund. • A gift to the Trinity Fund is a donation made to Trinity Academy’s operating budget for a specific school year. • The Trinity Fund vs. Capital Campaign? The Trinity Fund supports on-going and annual expenses and strategic initiatives in the school’s operating budget. Capital gifts (Capital Campaign) are used for the building of new buildings. In short, the Trinity Fund helps us live, while gifts to a Capital Campaign help us grow. • Doesn’t tuition cover the cost of our operating budget? Unfortunately, tuition and fees, facility rentals, after-school programs, and Corporate Champions are simply not adequate enough to cover the operating expenses and strategic initiatives each year. • 100% of our board participates in the Trinity Fund. • Currently 51% of our families, faculty, and staff participate in the Trinity Fund. • Our goal is not a dollar amount but rather a participation goal. Can you imagine what our Trinity Fund would look like if we increased from 51% participation to 75%, 90%, or even 100%? Mark Slaga Finance Chair, Trinity Board As Finance Chair of your Trinity Academy Board of Directors, I am constantly impressed by the intentional way your finances are so carefully stewarded by Trinity Academy’s leadership. CFO Kris Hinton is one of the best I’ve ever worked with and understands what parents sacrifice to give their child a Trinity education. Under her watchful eye, Trinity budgets conservatively and spends in an economic manner. I can confidently say Trinity manages expenses extremely well and is constantly looking for additional revenue streams to keep the annual tuition increases to a minimum. Our partnership with Thomas, Judy & Tucker as our annual auditor has confirmed that Trinity follows best practices for nonprofit institutions of our size and that it is stewarding your resources well. Kristen Hoyle’s expertise is a blessing to us and another source of confidence for each of you. Kristen T. Hoyle, CPA Audit Partner Area of Expertise: Nonprofits Kristen has been with Thomas, Judy & Tucker, P.A. since 1998 and has 30 years of experience in public accounting. TJT has audited Trinity Academy for over eight years. Important items to note from the June 30, 2017 audited financial statements: • Unmodified audit opinion • Financial results were positive both for net income and cash flow • Debt service is within a reasonable range and the School has met all its debt covenants • Financial results of the School are comparative to other Triangle private schools As an alumni parent (Katherine ‘15), Kristen has always had a special interest in making sure Trinity Academy is a good steward of parents’ tuition. Her knowledge of other nonprofits in our area helps ensure that Trinity Academy is on target with expenses and tuition rates. 11

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