Bolles Endowments

When Katie and I decided to donate an endowment to Bolles, we had already participated in “The Future is Now” Campaign through our support of George Hall on the Lower School Ponte Vedra Beach Campus and Tarver Pool on the Upper School San Jose Campus. We wanted to continue to support the School and decided that creating endowments would have the potential to make a broad and lasting impact. The endowments all serve different purposes for our family as well as the school. The swimming award came from the realization that despite all the schools success in swimming over the years there was no award endowment like in other Bolles varsity sports. Swimming at Bolles and in college had a major positive impact on my life so that was an easy decision to establish the award endowment. Next, when I was a boarding student, I remembered how the international diversity of boarding students broadened my knowledge and world views. Katie and I decided how better to help foster that international diversity than a boarding student financial aid endowment. Finally, and most recently, we created the Gold Family Mental Health Speaker Series endowment. This endowment will support bringing nationally known mental health clinicians and motivational speakers to all campuses to speak with our children, faculty and parents. We hope to have our first speaker in 2023 and support at least one Gold Family mental health speaker each year. We are thankful for Bolles being supportive of establishing these endowments with our family and we know that the endowments will continue to give back to Bolles long after we are gone.

— Steven T. Gold ’95 Bolles Board of Trustees Member

A beautiful medallion to commemorate each endowment was recently commissioned by the School and given to each donor who has established an endowment.

ENDOWMENT FACTS

• An endowment may be created by an individual or an alumni class beginning with $50,000.00 for investment purposes. The principal of every endowed fund at Bolles is held in perpetuity and generated income is directed toward the designated purpose annually.

• Endowments may be named for the donor, donor’s family or for an alumni class.

• Endowments may support financial aid, technology, academics, athletics, the arts, maintenance, etc. or be unrestricted and be utilized toward the School’s highest need.

• Endowments secure the future and make the difference for a private independent school and its ability to thrive, grow and be recognized among its peers for quality and excellence.

ENDOWMENT VALUATION

Distributions from the endowment provide a critical source of revenue for The Bolles School. As of 7/31/22, Bolles’ total endowment was valued at $24.2 million.

14.99% Unrestricted

24.47% Facilities Operation, Maintenance and Improvement

12.05% Teaching/Academics

11.47% Arts, Athletics, Wellness and Other

37.02% Financial Aid/ Awards

MANAGEMENT

Perella Weinberg Partners Capital Management LP is charged with managing asset allocation, implementing specific investment strategies and selecting and monitoring external money managers. In collaboration with the Bolles Board of Trustees, the Chief of Finance and Operations and external consultants, the School works to achieve the primary goals and objectives of the endowment, which are:

• To preserve and enhance the purchasing power of the endowment

• To support the current and future operations of The Bolles School

ASSET ALLOCATION

The Bolles School has adopted an investment strategy that emphasizes the prudent management of risk, while working to generate long term total return. To achieve this goal, investments are diversified across a broad variety of asset classes a strategy that, historically, has been shown to mitigate risk while enhancing portfolio performance. The Bolles financial office and associated entities are focused on the responsible stewardship and investment of philanthropic gifts. The Endowment’s purchasing power is supported by rigorous monitoring and review of investments, which aim to ensure each gift invested in the endowment may continue to transform The Bolles School for years to come.

3.20% Real Assets

32.09% Fixed Income

7.37% Private Capital

1.40% Opportunistic

0.83% Cash and Other

55.12% Global Equities

PERFORMANCE REVIEW

The Bolles School Portfolio is invested with a long-term perspective. The Portfolio is diversified, with exposure to areas such as global equities, fixed income, real assets and private capital. The goal of the Portfolio is to provide a level of return that can meet the annual spending needs of the school and serve generations of students to come.

The investment return of the Portfolio for Fiscal Year 2022 was –10.9%. For perspective, the global equity market, represented by the MSCI All Country World Index, returned –10.5%. The global fixed income market, represented by the Bloomberg Global Aggregate Bond Index, returned –14.6%. The Portfolio exhibited volatility of 11.4% compared to volatility of 17.6% for the global equity market.1

The figure below shows the historical returns of the Portfolio relative to the returns of the MSCI All Country World Index and the Bloomberg Global Aggregate Bond Index.

1 Information is presented for the one-year period ending July 31, 2022. This performance information has been prepared by Agility using estimates, has not been audited, and is intended solely for your general informational purposes. The total portfolio returns are presented net of net of all fees and expenses payable by the investor. In instances in which we receive additional valuation information form underlying investments after the Investor’s performance information has been calculated and disseminated, such additional valuation information, for performance purposes, is usually utilized only in connection with the next scheduled performance calculation and distribution (and not retroactively applied). Past performance is not an indication of future results. Investing involves risk, including the possible loss of principal and fluctuation of value. Note: Index data is provided to represent the market environment. An investment cannot be made directly in an investment, and index performance does not represent the expenses of managing a portfolio.

ENDOWMENTS

UNRESTRICTED

James VanEtten Bent ’53 Family Endowed Fund

Established by Patricia Paul Bent ’55 Bartram and James VanEtten Bent ’53, Marci and James Bent ’78, Tracey Angelo Bent, Paul Bent ’81, Patricia Bent MacRae ’77 and Davis MacRae

To provide unrestricted funds to be used where needed most

Wilford Lyon Jr. Annual Giving Fund

Established by Eleanor and Wilford Lyon, Jr.

To ensure the Bolles Annual Giving Fund is supported annually, and in perpetuity

Andrew Cooper Siguler ’17 Endowed Fund

Established by Pam and George Siguler

To support the school with unrestricted funds

FINANCIAL ASSISTANCE

C.L.G “Garnett’ Ashby ’44 Endowed Fund

(formerly the Thurston S. Roberts Scholarship Fund)

Established by C.L.G. Ashby ’44

To provide financial support for students who reflect personal traits of high character and perseverance

Anne Davis Baker ’68 Endowed Fund for Financial Assistance

Established by Anne Davis Baker ’68 and John Daniel Baker, II ’66

To provide tuition assistance to students encouraging diversity and inclusiveness in the student body

Bolles Alumni Scholarship Fund

Established by The Dianne T. and Charles E. Rice Family Foundation, Julie and Dan Rice ’80 and Celeste Rice Greene ’85

To provide tuition assistance to a child, grandchild, or great grandchild of a Bolles alumnus

Bradley-Turner Endowed Fund for Financial Assistance

Established by Chris and Billy Ball

To support incoming grade 9 students to encourage diversity and inclusivity, as well as, to advance excellence in academic, leadership and citizenship

C.C. and Sarah T. Butler Endowed Fund for Financial Assistance

Established by the C.C. and Sarah T. Butler Foundation

To support grade 9 students who exhibit strong leadership and citizenship capabilities

Richard Cassidy Endowed Fund

Established by Mr. Richard Cassidy, Sr.

To support tuition for students with financial need

Chappell Culpeper Family Endowed Fund for Financial Assistance

Established by Mary Lou and John Chappell and the Chappell Culpeper Family Foundation

To provide financial assistance to students with financial need

Childress Family Endowed Fund

Established by Mr. Lewis Lee, Mrs. Frances Lee and Mrs. Miranda Childress

To provide financial assistance to students who are academically motivated and contributing members of their school

T. Theodore W. Crosby ’56 Memorial Endowed Fund

Established by Mrs. J. Ellis Crosby, Mrs. T. Theodore Crosby and friends in memory of T. Theodore W. Crosby ’56

To provide financial assistance to students exemplifying leadership, talent, and ability in many areas of school life

CSX Endowed Fund

Established by CSX Transportation

To provide financial assistance to students who display achievement both in and out of the classroom

James H. Dahl Endowment

Established by James H. Dahl

To provide tuition assistance to a qualified and deserving minority student

Harry M. deMontmollin, Jr. ’56 Endowed Fund

Established by the Bolles Board of Trustees in honor of Harry deMontmollin, Jr. ’56

To provide financial assistance to an upper school student to promote diversity and inclusivity

Michael P. De Santo Endowed Fund

Established by Mike De Santo in honor of his grandchildren

To provide financial assistance to students demonstrating financial need

Alfred I. duPont Endowed Fund for Financial Assistance

Established by the Alfred I. duPont Charitable Trust

To support a student that displays scholastic aptitude and a special determination to succeed in and out of the classroom

Jessie Ball duPont Endowed Fund for Financial Assistance

Established by the Jessie Ball duPont Fund

To support students that are committed to his or her academic program and demonstrate scholastic promise and willingness to participate in school activities, in and out of the classroom

Philip and Audrey Farace Endowed Scholarship Fund

Established by Becky and Dave Farace

To provide support for a boy or a girl with need-based tuition assistance

Freeman Family Endowed Fund for Financial Assistance

Established by Tricia and Doug Freeman

To support a rising Bolles senior who is a member of the National Honor Society

Gold Family Endowed Fund for Financial Aid

Established Dr. Katherine G. and Steven T. Gold ’95

To provide tuition assistance to a Black boarding student

Lucy B. Gooding Endowed Fund for Financial Assistance

Established by the Lucy B. Gooding Charitable Foundation

To support students with demonstrated financial need

Connie Boyd Hegarty ’56 Endowed Fund for Financial Assistance

Established by Dr. W. Harvey Hegarty in honor of Constance Boyd Hegarty ’56

To support a student entering Bolles Bartram Middle School

Hixon-Simpson Endowed Memorial Fund for Financial Assistance

Established by John H. Hixon ’47 (Skip), George C. Hixon ’55 (Tim), Joseph M. Hixon ’56 (Joe), and John Milton B. Simpson ’60 (Bryan) to honor their father Judge John Milton Bryan Simpson

To provide support for deserving students of color with demonstrated financial need

Dr. Aalok Kuthiala ’90 Family Endowed Fund for Financial Assistance

Established by Dr. Chitra Kuthiala in memory of her son Dr. Aalok Kuthiala ’90

To support students who otherwise would not have the opportunity to experience a Bolles education

Edward W. Lane Jr. Endowed Memorial Fund for Financial Assistance

Established by Mrs. Helen Murchison Lane, ’42 Bartram in memory of her husband Mr. Edward W. Lane Jr. To support to a Bolles Middle School Bartram student who has high academic achievement

Lazzara Family Endowed Fund for Financial Assistance

Established by Irene and Gasper Lazzara, M.D. to honor their children Christopher ’04, Jessica ’05 and Malea ’06 To support students entering The Bolles School who possess academic achievement and demonstrate financial need

Fontaine LeMaistre Memorial Endowed Fund for Financial Assistance

Established by Ann LeMaistre (Angel) in memory of her husband Mr. Fontaine LeMaistre, III

To help defray the cost of a Bolles education for recipients with demonstrated financial need, with preference to recipients who possess high scholastic ability and citizenship skills

Forrest B. Long and Jane Dove Long Endowed Fund for the Resident Life Boarding Program

Established by Forrest B. Long and Jane Dove Long

To provide support for the Resident Life Boarding Program

Captain Jonathan Yerkes, Jr. ’35 Endowed Fund for Financial Assistance

Established by Mrs. Miranda Childress of The Francis and Miranda Childress Foundation, in honor of Captain Jonathan Yerkes, Jr. ’35

To support deserving students with financial need

ATHLETICS

Art and Mark Alexander Endowment for Bolles Football

Established by a collective group of football alumni in memory of Art Alexander ’76 and Mark Alexander ’78

To provide a perpetual source of income for the varsity football team by supporting charter travel, equipment, and other resources

Mike Barrett Endowed Fund for Coaching Excellence

Established by Kristina K. and J. Thaddeus Gulliford ’89 in honor of Coach Mike Barrett

To fund seminars, education, and professional development for assistant football coaches

Karen and Ollie Barsh Champions Endowed Fund

Established by Karen B. Barsh in memory of Ollie Barsh

To support post-season travel expenses for Bulldogs athletics

Wayne Belger Coaches Development Endowed Fund

Anonymous in honor of Coach Wayne Belger

To provide professional development for assistant football coaches

Bolles Football Endowment Fund

Established by Kristina K. and J. Thaddeus Gulliford ’89

To provide a source of income to support coaching staff salaries and stipends, post-season travel, equipment, banquet/stewardship needs and general team support

Bolles Boys Lacrosse Endowed Fund

Established by Kristen and John Surface ’90

To provide a source of income to support varsity lacrosse coaching salaries and facility needs

Bolles Lacrosse Coaches Development Endowment Fund

Established by Emily and Gary Coleman

To provide professional development for varsity lacrosse coaching staff

Bolles Track and Field Endowed Fund

Anonymous

To provide funding for the core needs of Bolles Track and Field, ongoing programmatic needs of both boys’ and girls’ programs, and support for the head coach and assistant coach

Delaney Endowed Fund for Girls Lacrosse

Established by Lynn and Joe Delaney

To support coaches and general girls’ lacrosse program needs

Ramey Family Endowment for Athletic Performance

Established by Michele M. and Scott C. Ramey

To support the upper school girls’ varsity swimming and diving program and the girls’ varsity soccer program

The Risley Family Volleyball Endowed Fund

Established by Joan and Phil Risley ’79 and Dotty Risley

To provide support for the girls varsity volleyball program

Charles B. Rogers Continuity Fund for Football

Established by Robert B. Baker ’82 in recognition of Coach Charles “Corky” Rogers

To support salaries and stipends for the head football coach position

Skinner Family Endowment for Athletics

Established by Jenifer and Chip Skinner ’70, Erin and Chris Skinner ’80, Kim and David Skinner ’77, and Kathy Skinner Newton ’72 and Rusty Newton

To support Bolles athletics

The Chris and Karen Verlander Excellence Endowed Fund

Established in 2021 by Chris and Karen Verlander

To provide support for Bolles football and other athletic initiatives

Buddy and Bette Ward Endowed Fund for Boys Basketball

Established by current and former basketball players, led by Susan and Sean J. Kelly ’89, in honor of Coach Wesley “Buddy” Ward

To provide budget relieving capital to enhance the boys’ varsity basketball program

Scott and Kelly Witt Endowed Fund for Wrestling

Established by Kelly and Scott Witt

To provide resources to support salaries and stipends for the wrestling coaches

Scott and Kelly Witt Endowed Fund for Varsity Girls Cross Country

Established by Kelly and Scott Witt

The income from this fund will help Bolles athletics pursue and maintain the best coaches

THE ARTS

Sara Alice Bradley Darby Family Endowed Fund for the Arts

Established by F. Leonard Darby ’70 and R. Bradley Darby ’65 in memory of Sara Alice Bradley Darby

To support and to advance the Fine and Performing Arts programs at Bolles

George C. Miller, Jr. ’39 Endowed Fund for Music

Established by Irene and George C. Miller, Jr. ’39

To underwrite Bolles music programs

Peyton Endowed Guest Artist Fund

Established by Marcy and Herb Peyton and family

To support a short-term visiting artist series on a biennial basis

Randall T. Skinner ’82 Musical Guest Artists Endowment

Established by Tracy and Randy Skinner ’82

To provide support for Master Class learning

William Waterman ’68 Endowed Fund for the Arts

Established by Bronda and Neil J. Waterman

To support the Bolles Art Department

ACADEMICS

Barbara J. Barrett Memorial Endowment for Excellence in Literacy

Established by Michael F. Barrett and Kevin M. Barrett, M.D. ’91.

To provide support for Language Arts, and Library & Reading initiatives at the Whitehurst campus.

Global Learning and Engagement (GLE) Endowment

Established by Drs. Ali and Nayla Chahlavi

To provide financial growth and support for the Global Learning and Engagement program

The Hunt Family Endowment

Established by Melissa and Harvey Hunt in honor of their son Lincoln ’22

To support The Bolles School writing program

J.P. Smith Family Fund for Academics

Established by Kaki and. J. P. Smith, Jr.

To support academics

Sanjay Swani ’83 Endowed Fund for Academic Achievement

Established by Preeti and Sanjay Swani ’83

To bolster academics with experiences beyond the classroom by participating in academic competitions and scholastic conferences, and by attending academicrelated lectures

WELLNESS EDUCATION

First Union National Bank Endowed Fund

Established by First Union Bank

To provide substance abuse education

The Steven Todd Gold ’95 Family Mental Health and Wellness Lecture Series Endowment

Established by Dr. Katherine G. and Steven T. Gold ’95

To provide funds to assist with bringing a Mental Health & Wellness speaker to all four campuses.

Lucy B. Gooding Endowed Fund for Substance Abuse Education

Established by the Lucy B. Gooding Charitable Foundation

To support wellness programs for students and faculty

FACULTY

Clarkson Family Endowed Fund for Academic Faculty Compensation

Established by the Clarkson family

To provide support for teacher salaries and compensation

Dewan Faculty Appreciation Endowed Fund

Established by Kim and Derek Dewan in honor of their daughters Allison ’07 and Brittany ’04

To provide an award to distinguished teachers

Henrietta M. Donovan Chair of American Studies Endowed Fund

Established by Joan and Thomas Donovan, Sr. To recognize and reward outstanding educators

Richard Dostie ’72 Family Endowed Fund for Faculty Development

Established by Virginia and Richard R. Dostie ’72 and family

To provide professional development for a teacher from each campus to attend a workshop, educational conference, or symposium

Jessie Ball duPont Endowed Fund for Quality Teaching

Established by the Jessie Ball duPont Fund

To recognize and compensate the very best in teaching ideals and performance for Bolles faculty

Edward E. Ford Foundation Endowed Teacher Fellowship Fund

Established by The Edward E. Ford Foundation

To provide a teaching prize for two outstanding Upper School faculty members

Edward E. Ford Foundation Endowed Fund for Mentoring

Established by The Edward E. Ford Foundation

To support a mentoring program for new high school faculty

Daryle C. May Endowed Memorial Teacher Development Fund

Established by Lynda May Erwin ’80 and William Wofford Erwin, Jr. ’80 in memory of Lynda’s father Dr. Daryle C. May

To support professional development for teachers

Duane Ottenstroer Endowed Fund

Established by Sue and Duane Ottenstroer

To honor and recognize teachers on the San Jose Campus for their commitment to advancing academic achievement by providing support for teacher salaries and compensation

Robert H. Paul, Jr. Chair of English Endowed Fund

Established by Patricia Paul Bent ’55 and Robert H. Paul, III ’52 in memory of Robert H. Paul, Jr.

To provide support for the English Department including merit pay to members of the English Department faculty

Petway Chair of Mathematics

Established by Betty and Thomas Petway

To support quality instruction in the subject of mathematics

AWARDS

Quinn R. Barton, Jr. Endowed Award

Established by Margaret Barton, Ph.D. ’82 and Tom Kimbrough, Susanna and David Barton ’90, Stacey and Ellis Barton’87, and Lindsey and Quinn Barton ’84, in honor of Quinn Barton ’46

To honor a senior student who most demonstrates Barton’s distinguished legacy of exceptional academic achievement, leadership, and character, as well as a reverence for the fine arts and The Bolles School itself

Bolles School Parents Endowed Golf Award

Established by LuAnn Alvarez VanPelt ’74 and A. Rodney VanPelt ’73

To honor and recognize a Bolles varsity golfer

Bolles Parent Association (PA) Award for Scholarships and Financial Assistance

Established by the Bolles Parent Association

To provide scholarships to graduating seniors

David Woolard Chambers ’63 Memorial Fund

Established by Dr. and Mrs. William N. Chambers

To provide a book award to the valedictorian and to the Bolles Library

Steven Todd Gold ’95 Varsity Swim Team Award

Established by Dr. Katherine G. and Steven T. Gold ’95

To provide the Steven T. Gold ’95 Varsity Team Swim Award

The Archie Jenkins Personal Achievement Award

Established for Archie Jenkins, III ’80 by his family and friends to honor his Bolles Upper School experience and personal achievement

Award is given to a Bolles senior at graduation who has earned the most scholastic improvement, reflected by increase in class standing from first year to graduation and to the teacher who was most helpful to the student’s progress

Dr. Rita Davidson Kaunitz Endowed Sculpture Award

Established by Karen and Andy Kaunitz, M.D. in honor of Andrew’s mother, Dr. Rita Davidson Kaunitz

To recognize a senior art student who excels in sculpture to receive this annual award

Eileen R. Liesegang Endowed Spirit Award

Established by Dr. Tom Liesegang and friends in memory of his wife, Eileen

To provide a cash honorarium for two seniors, one from the varsity football team and one from the performing arts program

Rufus R. McClure Award

Established by the Archie Jenkins family in honor of Rufus McClure

To recognize the grade 8 student who has achieved the greatest academic improvement during his/her middle school years

David O. Pedrick ’86 Endowed Fund

Established by family, classmates, and friends to perpetuate the legacy of David O. Pedrick ’86

To recognize seniors who demonstrate proven leadership ability, athletic achievement, artistic ability, school spirit, and a genuine compassion for all people

Jay Stein Caring Award

Established by Hugh H. Jones, Jr.

To provide an award for the senior who best exemplifies a caring attitude

Brad Sterling Endowed Award for Boys

Lacrosse

Established by lacrosse parents and alumni in honor of Coach Brad Sterling

To recognize a lacrosse player who exemplifies the values of the Bolles School and to bolster the boys’ lacrosse budget

TECHNOLOGY

Michael A. Sandifer ’64 & Elaine M. Sandifer

Endowed Fund

Established by Elaine and Mike Sandifer ’64

To provide support for The Bolles School’s technology course needs, business entrepreneurial curriculum and programming needs

The DeWitt R. Searles ’39 Endowed Fund for Information Technology

Established by Major General DeWitt R. Searles ’39

To help defray the costs of computers and updates

PROGRAM SUPPORT

Jane Pendergast Community Service Endowed Fund

Established by Jane and John Pendergast ’73 in honor of John’s mother Jane

To support and underwrite community service activities and programs for Upper School students

MAINTENANCE

Lucy B. Gooding Endowed Fund for Maintenance

Established by the Lucy B. Gooding Charitable Foundation

To support the maintenance of the Gooding Art Gallery

Robert A. Mills ’45 Endowment

Established by The Lucy B. Gooding Charitable Foundation Trust in memory of Robert A. Mills

To assist in maintaining the prominence of The Center for Innovation

Stopyra Foundation Endowed Fund

To provide funding for the renovation and maintenance of the Stopyra fountain n