School Funding

[KES Parent]

PS to say that I hope CH's endowment does not go the same way as our mortgage endowment policy, due to mature fairly soon, which after 25 years of premiums is virtually worthless. Presumably even the richest school in the country is not immune from the current travails of the stockmarket.

[CHmum]

Let's hope not KES Parent!

Not all of CH's income is from fees and it's endowment though. Some ex-pupils (Old Blues) choose to be presentation governors. They make substantial donations to the school, and in return they can choose a prospective pupil to 'present'. That child still has to pass the entrance exams, but if they do, they will be offered a place at CH. Their governor receives regular updates of their achievements and many become friends. That is testament to how much pride Old Blues have in CH, and how they much they want others to have the opportunities they had.

I'm not implying that other indies don't do that, maybe they do, I really don't know. Maybe someone else does.

[dinah]

Well I can 'pontificate ' with the best of them on here . The endowment of CH is the result of good housekeeping right from 1552. The principles of the school are and always have been to provide a first class education to pupils who would normally be excluded from such an education by lack of money . CH can't be faulted for investing it's money wisely and for the sole purpose of the education of its pupils. The school quite rightly sees cultural persuits as an essential part of that education and not a luxury. Strangely enough it does not regard horse riding as essential and that comment was facile and patronising.
Of course the endowment will suffer from the current economic climate but I see nothing to rejoice in . Staff salaries are lower than at other similar schools which is a testament to their dedication and belief in the schools royal charter.

[KES Parent]

Of course the endowment will suffer from the current economic climate but I see nothing to rejoice in

If you are referring to me, and as I am the only poster to have mentioned the endowment I assume you must be, I am completely indifferent as regards CH's financial situation, and am certainly not rejoicing about anything. I am much too preoccupied with how I am going to meet my own financial commitments, which unfortunately are not subsidised by anyone.

[cinnamon]

Maybe more indies should think of adopting CH's means-assessed fee structure, then they could stop offering bursaries, and just offer realistic fees to those on lower incomes.

This was surely how the old direct grant schools operated, taking into account not only salary but also the number of dependent children in the family and mortgage payments. Of course, they relied on the Government to help fund the system - not sure this is likely to be forthcoming any time soon!

[FirstTimeBuyer]

Dinah
Your pontification credentials are intact.
Following a logical argument may be another matter.

Nobody on this thread is suggesting that CH is anything other than a national treasure. Furthermore whether it received a legacy from Edward VI and stuck it in the building society or won it in the National Lottery last year is irrelevant. What matters is what it does with its resources.

The only facile argument is that because the Richest School in England can subsidise so many deserving children, that somehow the many other independent schools which survive without such largesse are not "good guys" if they don't do the same (unless you are suggesting that the other schools mismanaged their affairs).

The OP asked for some guidance on GS v Independent. You and CH Mum and Sycamore took the discussion into a useless cul-de-sac, because CH is very much the exception to rule when discussing independent schools.

[dinah]

I am referring to anyone who says that because CH has looked after its money for the sole purpose of subsidising parents who can't afford full boarding fees that it is somehow wrong.It is a pity that it asn't more well known on this forum before this year because I am thinking that there are many parents on here who would have thought it worth a punt had they known.It is well publicised in the City where the Lord Mayor is a major supporter and in Sussex where the school is situated. It tends to rely on word of mouth though the Rock School, Who do you think you are? and Does Reading Matter?(BBC 4) have given the school some very good press.

[resmum]

Yes, and that loophole needs to be closed. Why should they benefit from having a charitable status, and all the tax perks that status affords them, when they don't really deserve it?

Independent schools only gain about £255 per pupil from charitable status - a drop in the ocean compared to fees of between £6k and £25k per year.

Most schools would be happy to give up this benefit but, as they were originally set up as charities, they cannot simply say "thanks, but no thanks". The school would have to be sold and the proceeds of the sale used for charitable purposes.

So now independent schools find themselves between a rock and a hard place. They can't give up charitable status and have no choice but to try and appease a charity commission which is making more and more demands on them.

Perhaps what would be fair would be if the school had to provide bursaries to the value of the tax benefit times the number of pupils on the roll - 100 pupils = £25,500 worth of bursaries. If the school doesn't have a large endowment though, funding for more bursaries has to come from raising fees, so parents who may already be making a lot of sacrifices to pay their children's fees may feel rather resentful that they are having to find more cash to subsidise other pupils.

[piers3]

first time buyer

This hole is their finances is being met from the income from an endowment. Guess how big that is?
Whilst you have been pontificating about how this and that "should be available to all, not just those that can afford them", your DC is attending The Richest School in England.

All the non-"Good Guys" would be delighted to be Good Guys if they were in receipt of an extra £10m per annum.
Indeed one could say that the CH's goodness is effortless, being fully-funded, where bursaries being provided by other independent schools are effectively being funded directly by the parents.

Why do you think all these independent schools are offering bursaries??... They fear the loss of their charitable status if they fail the 'public benefit test'. CH is the Gold Standard by which other Independents can be measured for their Charitable Status(Ds has place for September). I am amazed by some of the views and negative opinions about CH, a school that has managed it's finances and is well suported by former pupils.

[sycamore]

The OP asked for some guidance on GS v Independent. You and CH Mum and Sycamore took the discussion into a useless cul-de-sac, because CH is very much the exception to rule when discussing independent schools.

The OP has not posted any comments on this thread recently and like so many others it has become somewhat diverted.

FirstTimeBuyer, I don't think the thread had become a 'useless cul-de-sac'. If you feel this way, perhaps you should reverse your way out of it and post on a thread that you find more worthwhile?

I really can't understand the negative comments about an Independent school that appears to be more socially inclusive than most state Grammar Schools.