What is an Endowment?
An Endowment is a collection of funds or property given to and invested by an organization for the purpose of generating income to assist with underwriting its ongoing mission.
Why Give to Kent’s Endowment?
A gift to the endowment creates a permanent funding source. The endowment is considered a permanently restricted asset: the original gift is never spent. A gift to the Endowment is invested in a manner to preserve the purchasing power of the gift so that the income created can support the general mission of the school in perpetuity.
What is the Importance of an Endowment?
The smaller a school’s endowment, the more dependent it is upon tuition revenues in discharging its financial obligations, and generally the more constrained it must be in its program offerings and quality of institution support. Thus, independent boarding schools with the largest endowments, as measured in total dollars per student, have a distinct advantage.
A larger Endowment allows Kent to:
- Provide scholarship assistance to deserving students. An independent boarding school education is becoming less affordable. The best way to manage this issue is through growing the endowment to support scholarships.
- Increase compensation for a superb teaching faculty.
- Provide excellence in instruction, state of the art facilities and careful attention to the individual. To maintain high standards and remain educationally competitive.
- Develop and provide new programs. Experiential learning, applied learning and academic support are all required as part of today’s curriculum.
In April, 2015, The Board of Trustees announced the KENT: The Second Century initiative, which aims to increase Kent's endowment to $250 million by the year 2020. To further support this initiative, the Trustees and Senior Leaders announced a Match, whereby every gift to Kent, for any purpose, will be matched 1:1 up to $25 million until June 30, 2018.
To learn more about KENT: The Second Century, please click here.
To learn more about the KENT: The Second Century initiative to increase Kent's Endowment, click here to read an article written by Jeff Cataldo, CFO.
For more information, please contact Denny Mantegani, Director of Development, at ManteganiD@kent-school.edu or 860-927-6267.