St. Michael's Prep is an independent Catholic school, which means that the school is financially independent of the Diocese of Austin and operates as a 501(c)(3) non-profit organization. Because we are not affiliated with a particular Catholic parish, we are not part of any parish operating budget.
Like most private schools, St. Michael's Prep cannot operate on tuition alone. Our school follows a century-old financial model used by thousands of America’s best private schools that combines tuition and charitable donations to balance the school’s operating budget.
St. Michael's Prep Funding Model Tuition + Donations = Cost of Education
This funding model specifies that 80-90 percent of operating costs be covered by tuition and fees and 10-20 percent be covered by donations. St. Michael's Prep has embraced this historically successful model of tuition + donations for two reasons:
It allows St. Michael's Prep to maintain a healthy enrollment by keeping tuition as low as possible.
It enables families to receive a charitable tax deduction for a portion of the cost of their child’s education.
If you are 70 ½ or older and have a traditional Individual Retirement Account (IRA), you can use your required minimum distribution to give to St. Michael's Prep through an IRA Charitable Rollover gift.
To make a gift from your IRA, contact your IRA custodian and ask that your distribution be a charitable rollover to St. Michael's Catholic Preparatory School and include your name and address in the transfer.
Many companies offer a Corporate Matching Gifts program to encourage their employees to be charitable. We encourage you to consult with your company or organization to see if they match charitable gifts.
Using publicly-traded stock to make a gift to St. Michael's Catholic Preparatory School can be a tax-wise method of giving, especially if the stock has appreciated in value since you acquired it. Talk to your tax professional to see if the last weeks of the year are the right time for you to make a gift of securities.
Giving appreciated stock saves you tax dollars in two ways: First, you will receive an income-tax deduction for the current value of the stock. This value is the average of the high and low trading price on the transfer date. Second, you avoid paying the tax on the capital gain of the stock.
PLEASE NOTE: If you are considering a gift of stock or other marketable securities, the asset must transfer on or before the last business day of the year.
So that we can be sure to accurately match the donation to you, please alert us that you have made a gift of stock by contacting: Leah Esparza, Director of Advancement, at lesparza@smcprep.org
Checks may be made out to "SMCPS" and mailed to: St. Michael's Catholic Preparatory School Attn: Advancement Office 2500 Wimberly Lane Austin, TX 78735
Gifts must be dated and post-marked on or before December 31 to be included in the current tax year. Gifts received after this date will be considered for the following calendar year. (Reminder: St. Michael’s Prep operates on a July 1-June 30 fiscal year)
Charitable Gift Annuities and Charitable Remainder Trusts allow donors to support St. Michael's Prep and feel confident that they have dependable income in their retirement years. For more information, please contact Leah Esparza, Director of Institutional Advancement.
St. Michael’s Catholic Preparatory School does not discriminate on the basis of race, religion, color, age, gender, national or ethnic origin in : (i) the admission of students; (ii) the offerings of rights, privileges, programs, or activities generally made available to their students; or (iii) the administration of educational policies, financial grant programs, athletic programs, employment practices or policies, or other school-administered programs.