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.