Supporting effective schools serving students in challenging urban areas.
The Cape May Fund is a charitable organization that pools individual gifts to
provide critical support to small but effective schools. The Fund targets schools
serving children who rely on scholarship support to afford the charged tuition.
By pooling the gifts of many, we:
make a sizable annual grant while sparing each school's staff the time and effort required to record and acknowledge multiple gifts.
allow our contributors to support many deserving young people and the schools they attend by writing a single check each year.
As a tax-exempt, 501(c)(3) charitable organization, The Cape May Fund receives contributions from its members and their friends and families, distributing these gifts in the form of an annual grant to each school.
HOW THE FUNDS ARE USED
Since it was founded in 1993, The Cape May Fund has provided over $1,000,000 in annual grants to a select group of inspiring schools. Each school provides "total immersion" study programs for young people growing up in challenging urban environments. All of the schools have been recommended by members who have direct relationships with the schools to ensure that the gifts are needed and well used.
THE FUNDING DECISIONS
The Cape May Fund is governed by its Board of Directors. The Board researches proposed projects and monitors funded projects to ensure that grants are put to good use. As a general rule, the Board of Directors makes every effort to continue the Fund’s support of existing grantee schools. Any additional funds allow the Board to award grants to new schools. During each annual meeting of Board, the Board votes on the next year's grantees. Both members and contributors are welcome to offer suggestions for worthy projects.
MINIMAL ADMINISTRATION COSTS
Currently, the Fund's expenses average between 1-2% of total contributions per year. Annual contributions are generally distributed as grants to the schools in the same year they are raised. The Fund maintains a small endowment to ensure its ability to provide consistent grant levels from year to year.
THE BENEFITS OF POOLED GIVING
Support several deserving schools with a single annual donation.
Maximize the impact of your gift on young lives.
Reduce donor cultivation costs and time required to manage multiple donors.
Use funds in areas most needed, e.g., scholarships, capital needs, and new or existing programs.