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Town Financials

The foundation of a strong 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 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 Annual Giving, Town's annual Benefit/Auction, and earned interest income from our endowment.

Your support through Annual Giving is especially important for the 2020-21 school year as Town has made many necessary investments toward successfully opening the school safely for in-person and physically-distanced learning. These investments covered the increased technology needs for in-person and at-home learning, personal protective equipment (PPE) and other expenses associated with modifying the building and work spaces, and cleaning services and supplies, to name a few. In addition, a special appeal was created for current families in need of financial support due to the economic impact of COVID-19 on NYC and our school community.

The charts below illustrate Town's financial priorities and the importance of Annual Giving for 2020-21.

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 $41,000,000.

Contact

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