The tuition model at St. Timothy’s is designed to make the school accessible for as wide a range of families as possible while still enabling an educational program committed to excellence. The cost of providing an education at St. Timothy’s is funded by parents of children enrolled in the school and community supporters through donations and fundraising efforts.
The actual tuition cost can be offset by the school’s ability to possibly issue a charitable receipt for part of a tuition payment. Costs are also decreased by volunteer time contributed by all families. Families unable to pay their full tuition can consider an application for tuition assistance.
Charitable tax receipt to offset tuition
As St. Timothy Classical Academy Society is recognized as a registered charity by the Canada Revenue Agency (CRA), the school is able to issue charitable donation receipts for financial gifts to the Academy. The CRA deems that families whose children attend St. Timothy’s derive some benefit and a charitable receipt cannot be provided for the cost of this benefit. However, tuition that a family pays above this cost can be receipted as a charitable donation. The portion of a family’s tuition that can be receipted as a charitable donation can be significant and means that the after-tax cost of an education at St. Timothy’s can be less than the full tuition amount.
Childcare Expense Receipts
St. Timothy's, as an educational institution, is allowed to issue "Childcare Expense" receipts. When an educational institution provides supervision time before and after classes or during the lunch period, a portion of the tuition may qualify as childcare expenses. This receipt may be used for tax purposes, if applicable.
Employer-paid tuition applies to families who have their tuition paid by their employer. This rate is calculated to cover the full education cost without any subsidy from donations to the school. No charitable receipt can be issued for employer-paid tuition and tuition assistance is not available to families with employer-paid tuition.
Assistance is given entirely at the discretion of the school’s Board and is based on the needs of all applicants and the availability of tuition assistance, which comes primarily from the tuition paid by other families in the school. Tuition assistance will favour those in grades 1-8 because the Senior Kindergarten program currently operates with a deficit and is more likely for applicants who apply by the application deadline.
Generally speaking, at least 20% of the base tuition rate per child must be paid by a family or an outside source.
The request for tuition assistance is made on the Tuition Form. Additional information (income, exceptional expenses, assets, and liabilities) will then be requested to help determine assistance. The Board will keep all financial information confidential.