November 2019 (68, 4)

Page 1

350 Prospect Street Belmont, MA 02478

Non Profit Org. U.S. Postage Permit #58555 Boston, MA PAID

Volu m e 6 8 , Issu e 4

A Student Publication the Belmont Hilland School A Student Publication of theof Belmont Hill Winsor Schools

Novemb er 18, 2019

Belmont Hill & Winsor Endowments Assessing the Financial Status of Both Schools

Graphic by Jack Weldon ‘20

By Charlie Donahue ‘20 and Elly Pickette ‘21 Panel and Banner Staff Belmont Hill: Currently, Belmont Hill is in outstanding financial health. The school’s gross endowment, i.e. the amount currently invested in equity, alternative investments (hedge funds), fixed income securities, and cash, exceeds $130 million. In assessing the business

LOOK INSIDE Belmont Hill News............. 2-3 Winsor News.......................4-5 Belmont Hill Sports............6-7 Winsor Sports......................8-9 Center Spread..................10-11 Belmont Hill Opinions...12-13 Winsor Opinions............14-15 Winsor Arts.....................16-17 Belmont Hill Arts...........18-19 Backpage

of running the school, it is important to consider, however, that Belmont Hill owes about $40 million in debt, which it took on in order to complete projects such as the Jordan Athletic Center and Prenatt Music Center. This means that the school’s “net endowment” is $90 million, and in the event that these debts needed to be paid tomorrow, they would be drawn from the endowment. However, given that this is not the case, we have enjoyed the benefits of the full endowment to supplement the costs of running Belmont Hill. Each year, Belmont Hill collects only $23 million in tuition money, but the cost of educating all of our boys exceeds $35 million. While the Annual Fund, a yearly capital campaign that targets parents, grandparents, alumni, and friends of the school, makes up some of the difference, the majority of the extra funding comes from endowment draws. Mr. Bounty, the school’s CFO, estimates that each year between 4-5% of the three-year average endowment gets skimmed to cover about 25% of the $35 million yearly overhead. As a school, we owe a great debt of gratitude to the generous donors who partici-

pate in capital campaigns that benefit the endowment, and also to the Board of Trustees’ Investment Committee, which is charged with making decisions about the school’s investments. Over the last decade they have done a truly outstanding job, and the endowment has grown from $50 million in June of 2009 to its current $130 million. These excellent returns mean that Belmont Hill currently has a net endowment per student of more than $200,000, which is extremely strong compared to similar independent day-schools.

By Jackson Riffe ‘20 and Alex Gorham ‘21 Panel and Banner Staff

ticipated events that allow school communities to support athletes and celebrate their successes. Each year, fans travel to Belmont Hill for Homecoming and expect impressive athletic performances. This fall, the BH teams did not disappoint; varsity soccer and varsity football routed their opponents while the cross country team performed well in their only home-race of the season at the Rock Meadows course. The soccer team kicked off the Homecoming festivities when they played against Tabor Academy. Erick Silva (‘21) and Jayson Firmin (‘21) each netted goals, and Belmont Hill emerged victorious with a final score of 2-1. The football team continued the success with a dominating 21-0 victory of Roxbury Latin. Finally, the cross country team finished

Winsor:

Every year on Death by Chocolate day, students beg their long-block teachers to let them out early in order to beat the immense lines that come hand-in-hand with the beloved dessert day. Special lunches like Death by Chocolate, as well as all meals and snacks provided by Winsor, are made possible by Winsor’s annual budget, which is used mainly for salaries for faculty and staff, as well as financial aid; the rest is used for events and maintenance. The budget is made up of the annual fund, the

tuition, the renting out of the fields, and the endowment. The bigger the budget, the more teachers and staff can be paid, and the more people can be offered larger financial aid packages. Tuition does not cover what it actually costs to attend Winsor; the rest of the money in the budget helps cover the gap. So, tuition could also be lowered if the budget was large enough. The annual fund is exactly what it sounds like: a fund for annual expenses. The endowment is a little more confusing but, put simply, resembles a savings account from which money is never removed. Its importance lies in the investing of it; every single gift that is put into the endowment is invested into something. Right now, Winsor’s endowment is approximately $77 million, which may sound large, but is actually small in comparison to other independent schools, namely all-boys or co-ed schools. continued on page 5...

Fall Traditions: Belmont Hill Homecoming vs. Winsor UTL

Every fall, Belmont Hill and Winsor students, teachers, and alumni all support their respective schools at Homecoming and UTL. From a cursory glance, these two events appear drastically different from one another; Belmont Hill’s Homecoming always occurs on a Saturday afternoon and showcases soccer matches, cross country races, and the fan-favorite football game, whereas Winsor’s UTL takes place on a Friday night with main attractions such as volleyball, soccer, and field hockey. Despite these differences, the two events are more similar than they may seem; Homecoming and UTL are both highly-an-

off the day with a meet against St. Sebastian’s, Nobles, and Groton, in which both the varsity and junior varsity teams defeated Sebs but lost to the latter two teams. Additionally, at Homecoming this year, school spirit was as prevalent as ever. The Loop, led by Quinn Richards (‘20), Trevor Reilly (‘20), and Luke Khozozian (‘20), declared a ‘white-out’ theme for the day, inspired crowds of students to come out in support of the teams, and organized chants that celebrated the success of our athletes. Like Homecoming, Winsor’s UTL is an event focused mostly on fall athletes; however, Spirit Week and the Pep Rally are much more than just that. Each year, Winsor’s school spirit club, SASS (Students Advocating for School Spirit), chooses a continued on page 13...


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