Growing the Endowment
Of the $6 million the School hopes to raise in this capital campaign, $2 million is slated to go into the endowment, doubling its current size. Why is growing the endowment so vitally important to Manlius Pebble Hill?
First and foremost, the larger endowment will provide stability against the unpredictability of annual income and expenses, helping to secure financial security for future generations of students. A recent survey of 27 comparably sized independent schools across the country found that a third had endowments of over $10 million. Three-quarters had endowments of more than $5 million. Manlius Pebble Hill’s current endowment of slightly over $2 million is far smaller than that of most independent schools – and too small to adequately protect the School’s long-term fiscal stability.
Secondly, the larger endowment will support a permanent commitment to financial aid and scholarship assistance for deserving students. Approximately 40% of our student body now benefits from some amount of financial aid or scholarship, insuring economic, cultural, and ethnic diversity in our classrooms. Currently, this commitment to financial aid and scholarship assistance is met through the operating budget. There is enormous pressure to balance the commitment to financial assistance with the obligation to meet other expenses. As a result, every year, young men and women who are academically qualified to study at Manlius Pebble Hill and who would be real assets to the School are unable to attend because financial aid or scholarship funds for the year are exhausted.
Hundreds of Manlius Pebble Hill alumni have directly benefited from financial aid and scholarship assistance throughout the School’s history and can personally attest to the fact that their lives would be significantly different today had they not been given the opportunity to attend this School. In addition, our scholarship recipients have historically added great value to our community by bringing a different perspective or special talent to the student body.
The best approach to protecting Manlius Pebble Hill’s commitment to financial aid and scholarship is to grow the endowment with annual income restricted to helping qualified students begin or continue their education at MPH. It is an investment in the School’s future and in the future of generations of students.