Welcome to CAIP (Central Account Incentive Program).
CAIP is a program intended to increase contributions to several accounts at CLS through the purchase of SCRIP. Funds raised from SCRIP are, by default, split 50% to the CLS General Budget and 50% to SCRIP Special Projects and Program Expenses.
However, anyone who orders SCRIP has the option to designate up to 40% of the funds earned from their SCRIP purchases to the account of their choice. In all cases, at least 50% of funds raised will continue to be designated to the CLS General Budget and at least 10% of funds raised will continue to be designated to SCRIP Special Projects and Program Expenses.
Accounts where you may direct your contributions:
- CLS General Budget
- Your family’s Tuition Account
- Another family’s Tuition Account
- Endowment Fund
- SPICE Fund
Other General Guidelines:
- The current split of 50%-50% will remain in place unless a person designates into which account(s) the 40% should go.
- The calendar year for the program will run from April 26 in the current year to April 25 in the following year. For the first credit of the school year, credits will be calculated May 16th thru September 15.
- Credits to accounts will be made based on snapshots taken on September 15, January 31 and April 25. For instance, the early February Account Credit will be based on purchases made September 16 through January 31. The final snapshot for the year will be taken April 25 and the final Account Credit made by May 1.
- Purchases made April 26 and after will be credited toward the following school year.
- Changes to the 40% allocation can be made at any time but will only be applicable to future Account Credit Snapshots (see #3 above). Changes must be communicated to the SCRIP Coordinators at least two weeks in advance of these dates using the “SCRIP CAIP 40% Earned Funds Designation Form” available from the SCRIP Coordinators or the CLS website.
- If a family has paid their tuition in full by December 31, they have the option to designate the SCRIP tuition funds earned exceeding the full tuition to another account (i.e. General Budget, SPICE, Endowment) –or- they can choose to receive a refund check (to be paid after the April 25.) If tuition is not paid in full by December 31 or if a family leaves Central prior to completing the school year, funds earned exceeding the full tuition will be credited to the SCRIP Special Projects and Program Expenses Account.
- Family-owned businesses will be able to designate the 40% of funds earned. Non-family-owned businesses will not be permitted to designate 40% of funds earned. Rather, these funds earned will be distributed using the 50%-50% default.
- When program dates and guidelines change, all prior designations will continue as is until a new designation for is received.
- The SCRIP Program reserves the right to make changes or terminate this program at any time. Changes will be communicated accordingly.
Thank You for supporting Central Lutheran School through SCRIP!