Town Financials

The foundation of a healthy school.

Town is in excellent fiscal health.

The Town School is fortunate to have a healthy, growing endowment while carrying no debt. Town’s endowment was created entirely by the sale of the school’s air rights in 1982 to the Glick Corporation, and with subsequent targeted fundraising as well as wise investment the endowment has grown to nearly $41 million.

Our budget is fairly simple.

Our greatest expense goes to our greatest resource, our faculty and staff, including salaries, benefits, and professional development. Our greatest source of income is tuition but tuition alone does not cover the cost of providing a Town education. We bridge this gap through earned interest income from our endowment, our Annual Fund, and the Benefit/ Auction.

Annual Giving dollars directly fund many of the things that make the Town experience so rich for our children, including technology, field trips, financial aid, outside speakers, performances, enhanced facilities, equipment, opportunities for faculty professional development and so much more. Because Annual Giving is strong Town is able to use a smaller percentage of income earned on the endowment.

The charts below illustrate Town’s financial priorities and the importance of Annual Giving.

Town School Income & Expense Allocation 2016-17.

The Campaign to build The Town School endowment.

Under the tenure of Head of School Christopher Marblo, a strategic planning process revealed a serious need to build and strengthen the endowment in order to generate a substantial increase in income every year and secure a bright future for Town.

In June 2008 a Feasibility Study was conducted in which over 70 families were interviewed, including parents, faculty, alumni/ae and grandparents. The results of the Study revealed enthusiastic support for a campaign to build the Endowment.

We started Town’s first Endowment Campaign almost ten years after the last Capital Campaign, in which funds were raised to reconfigure Town’s internal space.

By June 2011 the goal of $8.5 million was achieved- the largest campaign in Town’s history and a game changing fundraising accomplishment. Today Town’s endowment, which was created in 1982 from the sale of air rights for $7 million, has reached nearly $41,000,000.

Contact

540 East 76th Street
New York 10021
p 212-288-4383
f 212-988-5846
info@townschool.org