Mandatory SCRIP Purchase Program
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ICS has implemented a
program of Mandatory SCRIP purchases for families with children in grades
K-8. This program encourages broader participation and recognizes those who
support our school. It also provides a means for those not able to purchase
SCRIP to make a monetary contribution to ICS in lieu of purchasing SCRIP. SCRIP is the least
time consuming and most cost effective manner to raise money for ICS. In fact,
it costs our families nothing to participate. Purchases with SCRIP amount to
an average 10% donation back to the school. This is not an insignificant
amount considering the hundreds of ICS families whom consume SCRIP products
every week. For these reasons, it
is essential that each ICS family fulfill their SCRIP requirement. In fact,
each family is urged to buy as much product with SCRIP as possible, rather
than simply hitting the minimum amount required. Please remember this during
the Christmas season, as many retail stores accept SCRIP. It's not just for
buying food! Therefore, unless
there is a special need, SCRIP purchases cannot be assigned to other
families. Special permission to do so, however, may be given by the pastor
upon written request. What is the Mandatory SCRIP
Purchase Commitment? For families with one child
in grades K-8, the purchase commitment for the 2008-2009 school year is $4,400. For families with more than one child in
grades K-8, the purchase commitment is $4,400, plus $400 per child for each
child beyond the first child. For example, the purchase commitment would be
$4,800 for a family with two children in grades K-8, $5,200 for a family with
three children in grades K-8, $5,600 for a family with four children in
grades K-8, etc. For the 2009-2010 school year, SCRIP purchases made from June 1, 2009 through May
31, 2010 will apply to the purchase commitment. Buy-Out payments equal to 10%
of the SCRIP purchase amount will be accepted in lieu of Mandatory SCRIP
purchases (for example: a payment of $10 will be accepted in lieu of $100 of
SCRIP purchases, a payment of $20 will be accepted in lieu of $200 of SCRIP
purchases, a payment of $200 will be accepted in lieu of $2000 of SCRIP
purchases, etc.). SCRIP purchases will be tracked
and reported to each family via the school's web site. Failure to meet the
requirements of the Mandatory SCRIP Purchase program will be treated as
non-payment of tuition, with the same consequences. The Pastor is always
willing to discuss exceptional circumstances. Are SCRIP Purchases or SCRIP Buy-Out Payments Tax Deductible? SCRIP purchases and SCRIP buy-out payments are NOT tax deductible. Which SCRIP Purchases are Credited Toward a Family's Purchase
Commitment? In order for a SCRIP purchase to be credited toward a family's SCRIP
Purchase Commitment the purchase must be made by parents, legal guardians,
siblings over 21 years of age, or grandparents. SCRIP purchases may
not be made by a member of one family for another family without the
permission of the pastor. Is the Mandatory SCRIP Purchase Commitment Pro-Rated if Our Child is
Enrolled After the Start of the School Year? Yes, the pro-ration is as follows -
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SCRIP Buyout Examples |
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The SCRIP Buyout shall
become equivalent to 10% of the family’s annual obligation. Implementing this
requirement will ensure that the program will further generate funds by offering
an easy opportunity to assist the school.
It is also a way of encouraging families to actively participate in
the discipline of supporting the program. Those choosing not to participate
in the SCRIP program shall now incur the cost of a 10% buyout. |
|
Number of Students |
SCRIP Requirement |
Buy Out Option |
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1 |
$4,400 |
$440 |
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2 |
$4,800 |
$480 |
|
3 |
$5,200 |
$520 |
|
4 |
$5,600 |
$560 |
|
5 |
$6,000 |
$600 |