What is SCRIP?
SCRIP is gift card fundraising. When you join the St. Mary’s Springs Academy SCRIP program, you’ll be purchasing gift cards and gift certificates that are used just like cash. You can use SCRIP to purchase everyday expenses like groceries, gas, clothing and other essentials. With every purchase, you earn tuition credit and revenue for SMSA. A portion of the rebates you earn go into your SCRIP account and are used to offset your tuition costs at SMSA or any tuition-based school. The remaining rebates are used to offset the operating costs of the System, thus SCRIP is a major fundraiser for SMSA.
How SCRIP generates revenue for you and St. Mary’s Springs Academy
SCRIP is purchased through Great Lakes Scrip Center. GLSC acts on behalf of churches, schools and other non-profit organizations to purchase large amounts of SCRIP from retailers. In addition, SMSA also orders SCRIP from generous local businesses who support our System. SMSA purchases SCRIP at a discount and re-sells it to you at face value. The difference in what the SCRIP was purchased for, and what it was sold at, is the rebate received. Of this rebate, 35% is distributed to your account and 65% offsets the operating costs of SMSA. Your rebate is added to your account each time you purchase SCRIP and will be credited to your tuition statement for the following academic year or a check will be issued to the tuition-based school you have indicated on your Tuition Credit Agreement. A third option is to bank your credit and use it at a future time. This credit can be banked for a maximum of 10 years after which you must use your credit at a tuition-based school.
The credit you received is based off the rebate offered by each individual retailer. For example:
Not only did you earn $8.93 toward your tuition, but you also earned $16.57 for St. Mary’s Springs Academy! Just for purchasing the items you were going to buy anyway!