Twitter-Logo-300x293Facebook_logoinstagram_logo_vector Hopkins House Blog

Trustees Adopt Fiscal 2017 Budget

February 5, 2016 01:33 PM
At their recent quarterly meeting, the Hopkins House Trustees adopted a $4.9 million operating budget for Hopkins House.  The budget, which takes effect on July 1, 2016, reflects a 6% increase over the current fiscal year, with the bulk of this increase slated for the organization's three highly rated preschool academies.
Funding for programs in general will increase in the new fiscal year by 29% while funding for the administration will be contained to just 5%.
The budget funds three new full-time positions at the preschool academies and one at the Early Childhood Learning Institute (ECLI), bringing the total to 78 full-time professionals next yeaer.
The budget includes $356,500 in tuition assistance to help the children of low-resourced, working families attend the Hopkins House preschool academy.
Tuition for infant care at the Helen Day Preschool Academy (Alexandria campus) will increase by $520 per year, with tuition for all other age groups remaining the same.  Tuition at the James L. & Juliette McNeil Preschool Academy (Fairfax County campus) will be unchanged, while tuition at the Innovative Preschool Academy (Herndon campus), which is struggling to reach enrollment targets, will be cut by $520 to $1,040. 
"These tuition rates offer the best value for world class services," said Adam Mann, Hopkins House's Director of Finance & Operations.  Two of Hopkins House's three preschool academies are Virginia Star Rated and nationally accredited.  The third preschool, opened 18 months ago, is in the process of seeking its rating and accreditation.
The budget also sets a goal to raise $1 million in gifts and grants -- the largest fundraising goal ever set for the organization.  To support this ambitious effort, the budget allocates $190,330 to The Hopkins Fund, the newly formed quasi-independent office set up last year by the Trustees to focus exclusively on raising money for the organization.  The Fund will be chaired by retired businessman and local philanthropist, Mark Moore.  Moore has raised millions for local causes.
The budget also sets aside money for capital improvements and "rainy day" reserves.
A summary of the budget is available by clicking here: BUDGET.