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Trustees Adopt Fiscal 2018 Budget

May 5, 2017 07:11 PM
On April 24, the Hopkins House trustees adopted a $3.9 million budget for fiscal year 2018, which begins on July 1. The approved budget represents an 11% decrease over the current fiscal year and includes $3.0 million to fund programs for a projected 413 children, youth, and adults. The remaining budget funds the general administration, fundraising, capital improvements, and reserves.

The adopted budget raises preschool academy tuition by 2% or approximately $8 per week. This increase reflects extensive input from the Parents Councils of the three preschool academies. Even with this increase, summarized in new tuition schedules, the tuition remains highly competitive among top preschools in the region.
This tuition increase is expected to generate approximately $82,000 in additional revenue to expand higher pay opportunities for some of the organization's lowest paid preschool academy educators. Entry level educators who obtain a child care certification and enroll in college will be eligible for a promotion and significant salary increase -- as much as $5,000. With better trained and higher compensated educators, Hopkins House seeks to enhance the quality of learning in its preschool academy classrooms.
The budget includes $93,000 in funding for the Early Childhood Learning Institute, a program to help teens and adults earn professional certifications and college credits leading to permanent careers in the early care and education field. Tuition will remain at $100 per semester. The program is open to anyone, including Hopkins House employees, seeking to improve their eligibility for career advancement in the child care field. The program is a partnership with Northern Virginia Community College.
For the first time in 20 years, funding for a Summer Discovery Camp is included in the budget. The camp, with $60,000 in funding, will help to ease the transition for the 45 young scholars graduating from the preschool academy at the end of this school year and entering kindergarten this fall.
To help ensure that all families have access to Hopkins House programs, regardless of income, the budget includes $325,000 in funding for preschool academy scholarships and other need based financial assistance (i.e. basic needs support, fellowships, and college loans). Nearly 60% of students enrolled at Hopkins House receive some form of financial aid.
"The trustees took special care in crafting a budget that will maintain and enhance the high quality of Hopkins House's programs and services for children, youth, and families," said Hopkins House treasurer Rick Belle Isle. 
The budget also invests funding for a new staff position to help the preschool academy reach a goal of at least 65 percent of student enrollment capacity. The goal is to enroll and maintain a combined total of at least 200 young scholars at its preschool academies in the City of Alexandria, southeast Fairfax County, and Town of Herndon. 
To support the budget, the organization’s fundraising arm, The Hopkins House Fund, has set a goal to raise at least $850,000 in contributions, grants, and gifts in fiscal 2018. As a nonprofit institution, Hopkins House depends heavily on philanthropic support to keep its programs affordable to low-resourced families.
"This budget provides the resources needed to support quality programs, quality staff, and exceptional outcomes," said Hopkins House president J. Glenn Hopkins. "There is no doubt, evidenced by the ambitious goals set forth in this budget, that Hopkins House is committed to making a real and lasting difference in the life-learning of our community’s children and youth, and their families."