Twitter-Logo-300x293Facebook_logoinstagram_logo_vector Hopkins House Blog

Trustees Adopt Fiscal 2019 Budget

April 28, 2018 10:27 AM
On April 23, the Hopkins House trustees adopted a $3.6 million budget for fiscal year 2019, which begins on July 1. The approved budget represents a 1% increase over the current fiscal year and includes $3.0 million to fund programs for a projected 353 children, youth, and adults. The remaining budget funds general administration, fundraising, capital improvements, and reserves.
[At their June 16, 2018 meeting, the trustees reduced the previously approved budget by $40,750 in order to hold spending at 0% over the prior fiscal year.]

The adopted budget raises preschool academy tuition by 2% or approximately $8 per week. This increase reflects an agreement negotiated last year with the Parents Councils of the organization's 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 $83,000 in additional revenue to expand higher pay opportunities for some of the organization's lowest paid preschool academy educators. With better trained and higher compensated educators, Hopkins House seeks to enhance the quality of learning in its preschool academy classrooms.

The budget includes $113,000 in funding for the Early Childhood Learning Institute, a program that helps 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 seeking career advancement in the child care field. The program is a partnership with Northern Virginia Community College.

To help ensure that low-resourced individuals have access to Hopkins House programs, regardless of income, the budget includes $231,000 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.

"Our goal with this budget is to 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. 

To support this budget, the organization’s fundraising arm, The Hopkins House Fund, has set a goal to raise at least $600,000 in contributions, grants, and gifts over the 12 months beginning July 1, 2018. As a nonprofit institution, Hopkins House depends heavily on philanthropic support to keep its programs affordable to low-resourced families.

"This budget devotes the resources needed to achieve exceptional achievement outcomes for our students through high quality learning programs and well trained and supported educators," said Hopkins House president J. Glenn Hopkins. "This ambitious budget testifies to our commitment as an organization to making a real and lasting difference in the life-learning of our community’s children and youth, and their families."