The Foundation for a Meaningful Life
Kindergarten - Grade 9 in Southborough, MA

Reopening Plan - Supporting the Fay Community

IV. Supporting the Fay Community

The School understands that the COVID-19 pandemic has had both a personal and economic impact on members of our community. In the spring of 2020, Fay School’s Board of Trustees took steps to help mitigate financial hardship among our families and employees that included approving:
  • The application for a loan through the Paycheck Protection Program from the Small Business Administration under the federal CARES Act. This loan enabled the School to keep all K-9 faculty and staff fully employed through the end of the 2019-2020 school year, avoiding possible layoffs, furloughs, and/or reductions in employee compensation.
  • The prorated refund of spring term room and board fees to boarding parents, and pre-paid fees for Fay After School programs and the Early Learning Center program.
  • An increase to the 2020-2021 financial aid budget to help families who have been financially impacted by the pandemic. 

The School thanks members of the community who have supported the Head of School Fund with financial contributions and members of our boarding parent community who generously donated their room and board refund to the School. Proceeds from these donations are being used to support additional financial aid for families during these challenging times. 

Recognizing the uncertainty of the duration of the pandemic and its potential financial impact on the School, the Head of School and Board of Trustees have taken steps to help ensure the continuity of the community into the 2020-2021 school year:
  • Many capital projects, and their associated expenses, have been deferred.
  • Non-essential operational expenses have been cut.
  • All employee salaries have been frozen, and the School’s contribution to employee retirement plans has been reduced.
  • Some staff members have been placed on temporary furloughs during summer months.

The School thanks all members of the community for their pledges and donations to the 2019-2020 Fay Fund, which exceeded its target this year. We also thank our faculty and staff who contributed, and we are proud to announce that 96% of our employees participated  in the Fay Fund.