A donation of ‘around half a million pounds’ has been given to a private school in Forres, which will allow it to buy its property, just days before a critical deadline.
Drumduan School operates as an educational charity and has a building and grounds on Cluny Hill, and follows the Steiner Waldorf education principles.
In 2019, Drumduan’s main school and kindergarten building and surrounding grounds were sold to Ekopia Social Investment Limited, a Findhorn-based community benefit cooperative. This step was necessary to raise funds. However, the ultimate goal has always been to return these assets to Drumduan’s stewardship.
Today, Drumduan School, an educational charity, announced that an extraordinary act of generosity has turned a buy-back dream into a reality just prior to a critical deadline.
Buy-back clause
Drumduan’s agreement with Ekopia included a buy-back clause to make this possible. This clause allowed the school to repurchase the property at the original sale price, provided they gave notice before the fifth anniversary of the sale on 12th December 2024. However, due to challenges such as restrictions during COVID-19 and other adverse circumstances, achieving this buy-back aspiration seemed increasingly unattainable.
A generous benefactor has donated a large sum of money to the Drumduan education charity, allowing the school to exercise its buy-back option. The benefactor is a first-time donor to the school and wishes to remain anonymous.
Their contribution reflects a deep belief in children as the key to a better future for humanity and in the pioneering Steiner Waldorf education as a path to achieve this vision. They are committed to ensuring a vibrant future for Drumduan Steiner School and Kindergarten, and this donation enables it to continue serving this purpose with a great deal of confidence and hope for its future.
On Friday, November 22nd, 2024, Drumduan officially informed Ekopia in writing of their intention to proceed with the buy-back purchase. Completion is anticipated early next year.
Fasil Bogale, Chief Executive Officer at Ekopia, sad: “We are proud to have supported Drumduan School on this journey and are thrilled to see it take this important step toward securing its future.”
40th anniversary
Martin Kutternik, a trustee of Drumduan, said: “This generous donation brings Drumduan House and its immediate grounds back into the heart of our school community, just in time for our 40th-year anniversary next year. We now reclaim our independence and secure a brighter future.
“We are a pioneering education charity, serving local families and attracting families to the area from all over the UK and beyond. Due to the impending new 20% VAT on all independent school fees, we still have some financial challenges to navigate. Having these assets returned to us relieves us of the need to pay rent, freeing up essential resources to support our daily operations and longer-term development.
“At this important juncture, Drumduan wants to thank Ekopia for its vital help and support over the years and pay special thanks to the new donor and all the other generous donors, supporters, and volunteers who help keep the school alive and thriving. “
