The St. Andrew's Endowment: Plan to Keep It Strong
When A. Felix duPont envisioned St. Andrew's, he knew from the start that a significant endowment would be needed to support the school's distinctive mission, strengths and identity.
St. Andrew's budget for the 1930—1931 school year was just over $34,500. The endowment contributed more than $15,500 toward the operating expenses. Tuition and fees made up more than $20,000. Though a surplus of $1,000 was realized, the endowment was called upon to provide roughly 45 percent of St. Andrew's needs in its first year.
Today, the model is similar: 45 percent comes from the endowment, 45 percent from tuition and 10 percent from the annual fund.
Every St. Andrean knows that the endowment is critical to St. Andrew's School. At the same time, the endowment has taken on a mythical status in the minds of many St. Andreans. Some believe the endowment to be more than large enough to support the school for its entire future. Unfortunately, this is simply not the case. St. Andrew's endowment is working hard to meet the school's ambitious and expensive program needs.
What has become clear is that without continued endowment growth—not only through investment, but through philanthropy—St. Andrew's will not be able to remain a distinctive community of students and faculty all working and living together in an atmosphere characterized by high academic and personal expectations, trust, warmth, and respect.
Now more than ever, St. Andrew's needs the support of its alumni, parents, grandparents and friends to sustain Felix duPont's vision. St. Andreans must ensure this important foundation remains strong.
One way you can help is to make a planned gift for St. Andrew's. To get more information about gift planning options, please contact Chesa Profaci at 302-285-4260 or email@example.com today.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.