Why families choose Kinkaid - our value proposition - is clearly articulated: Our school is grounded in academic excellence, robust visual and performing arts programs, successful athletic programs, and student leadership development. Additionally, our students are provided experiential learning opportunities and access to resources that one simply can't find anywhere else. Kinkaid is a school where balance is valued. What makes The Kinkaid School distinctive and even unique is the strong sense of community. A talented student body is taught and mentored by a premier faculty and staff who are national experts in their fields, all of whom share a passion for developing scholars, artists, athletes, and above all, good citizens.
It is important that parents and supporters of Kinkaid be informed on how their tuition dollars and philanthropic gifts are spent. A summary of the School’s financial condition is shared in the Annual Report, our next issue of our School magazine which will be published next month. With an operating budget of $50,000,000, Kinkaid today is the size of a significant business.
Kinkaid has four major sources of income: tuition and fees (84% of the budget), distributions from our endowment (8%), Kinkaid Fund contributions (6%), and miscellaneous (2%). The income from auxiliary services (primarily from the Dining Center and school store) is virtually offset by their associated expenses. As an independent school, Kinkaid does not receive any governmental resources.
The Kinkaid School Endowment Fund, Inc. was originally founded as a trust in 1958 to assist the School in securing the most highly qualified teachers, in maintaining rigorous academic standards, in offering exceptional educational opportunities to its students, and to provide financial assistance to deserving students who might otherwise not attend Kinkaid. The market value of our Endowment on October 31, 2021 was $129,271,000, a value greater than most of our peer schools. The Endowment ensures Kinkaid’s long-term financial sustainability and relieves the pressure of solely relying on tuition dollars to fund operations. The Endowment Distribution in support of the operating budget is $4,181,882 for 2021-2022, which amounts to $2,854 to subsidize tuition for each student. Between the Endowment and the Kinkaid Fund, we are so fortunate that philanthropy subsidizes almost $5,000 of the cost to educate each Kinkaid student.
Work on the budget for the following year begins three months after each school year begins. Our CFO, Joanne Margraves, works closely with me to prepare a preliminary school-wide budget for review by the Finance Committee of the Board of Trustees. After a thoughtful review, the Committee presents the budget to the full Board for approval.
As you’ve probably heard me say, a school will never exceed the quality of its teachers (and staff). Kinkaid employs almost 500 dedicated professionals, and the School devotes 67% of the operation budget to their salaries and benefits. Kinkaid teachers today have the second highest median salary among schools in the Independent Schools Association of the Southwest and the highest in the Houston area. This standing is possible despite Kinkaid having a tuition that is only 6th highest in comparison with the upper school tuition of 13 peer schools in the region.
The most significant budgetary decision the Board makes is setting tuition. This process is very thorough and includes a review of the local economic environment as well as Kinkaid’s educational programs and strategic objectives. The Finance Committee and our Board of Trustees ensure that best business practices, such as competitive bidding and outsourcing of services, are considered in order to help keep expenses under control. Tuition for this school year was not increased in recognition of the impact of COVID-19 on our families.
The excellence of Kinkaid today stands on a legacy of broad community support. We have the beautiful school you see today because of the many people who came before us and voluntarily decided to give back to help strengthen the School to ensure current and future generations of students could benefit from the unparalleled Kinkaid educational experience.
Last year alone, 2,212 donors provided $2,940,830 in support of the School’s operating budget. Our community also generously supports special events, such as the Auction, Book Fair, Field Day, Sporting Clays Benefit, and the Golf Tournament, all of which fund specific programs, including endowments for need-based scholarships and teaching fellowships.
Our beautiful campus was funded through the generosity of families who came before us, not through tuition dollars. For the past few years, our Board of Trustees has been working on the next major fundraising campaign to, among other things, address a need our community has desired for years: a new Upper School building. We look forward to sharing our strategic goals and timeline on this historic, transformational project in the near future. Continued community support will be instrumental for Kinkaid’s success.
We strive for excellence and continued growth in all that we do to ensure the highest quality educational experience for our students and their families. We are committed to being diligent financial stewards of the tuition and philanthropic dollars we are so fortunate to receive.
Thank you for your partnership!
Sincerely,
Jonathan Eades
Head of School
Meet Our Head of School
