At private colleges and universities all across the country, there is a gap between what students pay for their education and what it costs the institution to provide that educational experience.
As a private institution, KCAI receives no federal or state financial assistance. The ways in which we make up for this gap depend largely on the support of corporations, foundations, businesses and individuals who believe in our mission as a leader in art education and higher learning.
At KCAI, tuition generates approximately 60 percent of the income necessary to underwrite our annual operating expenses. The other 40 percent must come from other sources.
In addition, it is important that KCAI have the financial resources to maintain attractive and comfortable campus living, classroom and studio environments, to build an endowment fund that will assure the future of the college, and to build a scholarship fund that ensures students who are seeking financial assistance receive the aid they need to pursue their education at KCAI. About 98 percent of our students receive financial aid through our scholarship fund. Without the assistance of our benefactors, many would not have the chance to attend KCAI and receive a top-quality arts education.
One of the most important sources for the needed additional funding is gifts and grants from individuals, foundations and corporations. These generous donors are investing in the future of art and design in Kansas City and around the world.
The Kansas City Art Institute has an endowment of more than $40 million, up from $20 million only a few years ago, thanks to a $10 million challenge grant the college received in 2005. With a target deadline of 2010, the Art Institute raised the matching $10 million three years ahead of schedule.
Sometimes a simple and elegant gesture can speak volumes. Bequests are among the simplest of planned gifts, but their impact on students at the Kansas City Art Institute is immeasurable.
Simply put, they are gifts of money or personal property handed down or "bequeathed" to another party through an individual's estate plan. Large and small, bequests enable us to build endowments, provide scholarships, erect new buildings and contribute to our community.
Bequests to the Kansas City Art Institute allow donors to leave behind a legacy and play a lasting role in the lives of future generations of young artists. The impact lasts beyond the donor's living years, and when structured correctly, a bequest can have positive tax implications for the donor and his or her family.
For more information about planned giving, contact the KCAI advancement office at firstname.lastname@example.org.
General operating support, also known as the annual fund, secures gifts to bridge the gap between tuition revenues and what it actually costs to provide the highest quality of art and design education for each KCAI student. A significant portion of the annual fund goes to support student scholarships. The rest is spent on technology and equipment, programs and curriculum, faculty development and other important operating needs of the college.
For more information about general support, contact the KCAI advancement office at email@example.com.