- Current obligations - $175,000 for expenses to finish the school year. For the last two years, we have seen a rapid increase in health insurance costs, heating costs, and maintenance costs. At the same time, we have seen a decrease in gift income and an increase in the number of school families in financial need. Last year for the first time in the school’s history, we borrowed $65,000 to balance the budget. We must stabilize the school’s financial picture and the line of credit must be paid.
- Faculty and Staff – $100,000 for staff and teachers. The staff have not received a raise in two years and the starting teacher salary is $17,250. Funds are needed to retain faculty and staff and to recruit for several new openings. Student recruitment needs additional staffing. Some staff members face personal budget crises due to the low salaries and limited benefits.
- Development Staffing - $75,000 to hire a full-time development officer and provide for salary, benefits and expenses. This position is critical if Timothy Academy is to take advantage of its current opportunities. This new position will allow the school to recruit students more effectively, find new sources of gift income, network with the community, and build closer relationships with our current donors.
- Capital Expenditures - $150,000. The third floor of the Lehigh Avenue building needs extensive work to provide lighting, ventilation and library space on the third floor. We have six working ceiling lights for 10,000 square feet on the third floor. The accreditation team is requiring that we make major improvements to our library/media center. The third floor has no windows and no forced ventilation. A minimum of $100,000 is needed to meet basic standards for this floor that Timothy wants for its students.
Your gift, whatever the amount, will help Timothy continue this vital ministry to children. It can help improve facilities, strengthen programs, increase salaries, reduce interest and debt, and help make us strong for generations to come.
Financial investment by outside donors is crucial to ensure the short-term and long-term success of the Mission and Vision of Timothy Academy. Financial gifts towards Timothy’s immediate needs and new initiatives will provide the sound financial foundation to support Timothy Academy as a powerful influence in the lives of Philadelphia youth in the 21st century.
