Endowment Report 2020-2021

END OWMENT R EP OR T 2 0 2 0–2 0 2 1

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DEAR MEMBERS OF THE NASHOBA BROOKS SCHOOL COMMUNITY, Academic year 2020-2021 was extraordinary for Nashoba Brooks School. We reinvented a platform for learning, engaged in service to the local community, completed our five-year accreditation visit, and finished construction of the Sureau Family Discovery Barn. In the final weeks of the school year, students celebrated Field Day, participated in Sharings of Understanding, highlighted their extensive learning, and demonstrated outstanding resilience. We were able to celebrate our graduates with in-person graduation and closing day ceremonies, and we closed the year as we started—with hope, pride, partnership, and connection. It was a successful year by many measures.

Now more than ever, the focus of our strategic directions to create inspired education through innovation, inclusivity, and impact provide the compass to navigate our way through these challenging times. In 2018, Nashoba Brooks School launched The Campaign for Our Future to bring a new vision for the School to life. It was time to reimagine our existing spaces and how they might reflect and enhance the spirit, creativity, and curiosity of our students and teachers. We have completed Phases 1 and 2, securing approximately $6 million for capital initiatives and $1.4 million for the Nashoba Brooks Fund. Community leaders have shared their experiences, offered their thoughtful leadership, and invested their dollars to help expand School resources and inspired education on campus. In 2021, the Nashoba Brooks Fund raised $863,000, building momentum toward our goal of growing and sustaining annual giving at 10% of the operating budget. Due to strong performance, the value of the School’s endowment reached $17 million by the end of the fiscal year.

These resources combined with long-term strategic planning have enabled the School to launch our bold reVision Tuition plan—a commitment to reducing tuition to make a Nashoba Brooks education more accessible and affordable for families. Together, we can fully realize The Campaign for Our Future and ensure that Nashoba Brooks continues to provide an inspired educational experience for students for generations to come.

Nashoba Brooks School owes our strength to supporters and partners like you who have made this possible. As we report on the accomplishments of the past year and look toward the future, we must also pause and express our heartfelt gratitude for this remarkable community. Thanks to you, Nashoba Brooks School will continue to provide a space where students engage in learning that empowers them to connect with each other, find their voice, discover a lifelong love of learning, and become leaders who shape our world in countless, powerful, and productive ways.

Sincerely,

Danielle Heard Head of School

Vince Lorusso President, Board of Trustees

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R E SULT S OF OPER ATIONS 2 0 2 0 –2 0 2 1

ENDOWMENT DRAW 7.0%

Revenues

AUXILIARY & OTHER

1.7%

TUITION 82.9%

NASHOBA BROOKS FUND 8.4%

Tuition

REVENUES:

Nashoba Brooks F

$10,234,828

Endowment Draw

Auxiliary & Other

INSTRUCTIONAL MATERIALS DEBT SERVICE 1.8%

2.3%

AUXILIARY & OTHER Expenses and Allocation

2.8%

ADMIN OPS/ ADVANCEMENT 5.4%

EMPLOYEE COMPENSATION

67.7% FACILITIES

Employee Compens

6.7%

Financial Assistance FINANCIAL ASSISTANCE

13.2%

EXPENSES:

$10,681,226

Facilities

Admin Ops / Advanc Debt Service

Instructional Materi Auxiliary & Other

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END OWMENT C OMP O SITION EMPLOYEE SALARIES & PROFESSIONAL DEVELOPMENT 39.6%

FIXED INCOME Asset Allocation 21.5%

DOMESTIC EQUITIES 61.6%

Fund Allocation UNRESTRICTED 30.7%

ASSET ALLOCATION

Fixed Income Money Market Fund International/Global

MONEY MARKET FUND 5%Domestic Equities

FUND DESIGNATION

FINANCIAL ASSISTANCE 11.7%

CURRICULUM & PROGRAMS 18%

INTERNATIONAL/ GLOBAL 11.9%

AVER A GE C O S T OF ED UC AT I NG A S T UD ENT: W HAT ’ S C OVER ED BY TUI TI ON, W HAT ’S C OVER ED BY PH I L ANT H R OP Y ?

ANNUAL GIVING 8.4%

ENDOWMENT DRAW 7%

TUITION REVENUE 82.9%

AUXILIARY PROGRAMS 1.7%

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END O W ED F UN D S Through the years, alumni, families, and friends have established restricted funds that help provide financial stability for the School while ensuring enduring support for an aspect of school life for which they feel particular passion.

A list of these endowments appears below. If you are interested in establishing a new endowment or making a contribution to an existing fund, please contact Jevan Jammal, Director of Development at 978.369.4591 x122 or jjammal@nashobabrooks.org.

AN N E DEB OALT FU ND

This fund was established in 1998 by the Bankart family in honor of faculty member Anne DeBoalt. The fund supports Anne’s commitment to professional development and student services.

B AR B AR A C LIF T ON FUND

This fund honors Barbara Clifton, long-time Brooks and Nashoba Brooks teacher, who died in 1981. The fund supports financial assistance.

BEN J AMI N J. MENDE S III S CHOL AR S HIP F UND This fund was established in Benjamin’s memory.

Donations to this fund go to an endowed scholarship fund used for financial assistance.

BENVEN U T I FA C ULT Y DE VELOPMENT FUND

This fund was established in 2006 by the Benvenuti family in recognition of the dedication, talent, and skills of the Nashoba Brooks faculty. The fund supports professional development for teaching employees, including conferences and tuition reimbursement.

Ongoing donations are welcome with post-founding contributions having been made by individuals in honor of favorite teachers and through the Eighth Grade Legacy program.

C O N N IE M EN D E S E X TENDED DAY FUND

This fund was established to honor Connie Mendes on her retirement as creator and Head of Extended Day at Nashoba Brooks. Donations to this fund are used exclusively to benefit the Extended Day program.

D O R OTHY AN D ELIOT DENAU LT LIBR AR Y F UND This fund was established in 1999 by Dorothy and Eliot Denault to expand the collection of printed and electronic media, purchase library equipment and furniture, and maintain the overall appearance of the library.

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E . K AY C OWAN FA CULT Y F UND

This permanently restricted and endowed fund has two goals. The first is to aid in compensating our faculty at competitive levels, to both attract promising new applicants and retain the outstanding teachers who are at the heart of the School. The second goal is to ensure that Nashoba Brooks teachers will continue to develop new practices based on recent research and innovative professional development offerings.

EL IZ ABE TH F OW L ER C OWAN AR T S ENR I CH M ENT F UND

This fund was established in 2006 in memory of Head of School E. Kay Cowan’s mother. The fund is used to supplement the visual arts’ department’s operating budget.

EL L I S L E C TUR E AND S CH OL AR SH I P F U N D

This fund was established in 1998 to honor Patricia A. Ellis (Director, 1972-1992). Donations to this fund go to an endowed scholarship fund and are used for financial assistance.

E M P L OY EE F I NANCI AL CR I SI S F UND

This fund, established in 1998, is used for emergency loans to employees.

F I DELMAN L I BR AR Y F UND

This fund was established by the Fidelman family in 1997 to support annual acquisitions of library media and books for the lower grades.

H ER BER T J. C O OP ER AND H ER BER T M. K AR O L S CH OL AR SH I P F UND This fund was established in 2011 as an endowed scholarship for a Middle School student of color who demonstrates good character and shows strong promise in academics, athletics, or the arts.

“Giving regularly to our endowed funds is one way that our family has stayed connected with Nashoba Brooks. We encourage community members to consider contributing to an endowed fund. No amount is too small to help provide scholarships, support faculty, or build library resources, and each gift helps to secure the financial health of Nashoba Brooks for future generations. “ -Janet Benvenuti PTG’00 P’08

FINANCIAL ASSISTANCE

$1,595,180

Amount restricted for financial assistance

26%

Of students receive financial assistance

$20,563

Average grant for Lower School students

$27,611

Average grant for Middle School students

H U Y EN T RUON G ME MOR IAL FUND

This fund was established in honor of Huyen Truong, former director of admission, who died in 2008.

Money from this endowed scholarship fund is used to support Huyen’s commitment to diversity and financial assistance.

J O H NS O N GR EENHOU S E FU ND

The money from this fund is used to maintain the science greenhouse.

J O N E S FA C ULT Y END OWMENT AND J ONE S FAM I LY FA C ULT Y FU ND

These endowments were established by the Jones family in 2002 and 2005, respectively, to provide professional development opportunities for teaching employees in order to support both recruitment and retention of excellent faculty.

K AT HER I N E B AI R B’80 ME MOR IAL S C H O L AR SHIP FU ND

This fund was established in Katherine’s memory.

Donations to this fund go to an endowed scholarship fund and are used for financial assistance.

MAR G AR E T ( M E G ) J ONE S ‘8 9 M E M O R IAL S CH OL AR SH I P F UND

This fund was established in Meg’s memory. Donations to this fund go to an endowed scholarship fund and are used for financial assistance.

M I K AL R . C OH EN M E M OR I AL S CH OL AR SH I P F UND

This fund was established in memory of Mikal R. Cohen, mother of Rebecca ‘03, who believed deeply in the breadth and richness of human diversity. She shared the School’s goal of increasing diversity within the Nashoba Brooks student body. In honor of Mikal, her family and friends created an endowment fund for the purpose of providing scholarship funds to a newly-enrolled student. Students qualifying for this scholarship will demonstrate financial need and represent diversity.

NA SH F LY NN FAM I LY F UND F OR DI VER S IT Y, S CH OL AR SH I P, AND FA CULT Y ENR I C HMEN T

The Nash Flynn family established this fund in 1998 to support faculty enrichment, diversity, and financial assistance that would not otherwise be possible through the regular operating budget.

PA CKW O OD M ODAH L S CH OL AR SH I P F U N D

The Packwood Modahl family established this fund in 2004 to provide financial assistance to students in the Middle School.

PAR ENT S’ A S S O CI ATI ON P R OF E S SI O N AL DE VEL OP M ENT F UND

This fund was established in 2004 by a donation from the PA Auction of that year. The endowed fund has been added to since then with proceeds of subsequent auctions. Money from the fund supports a variety of professional development opportunities for employees.

PAUL I NE BER K E S F UND

The Brooks Trustees established this restricted fund to be used for financial assistance. The fund honors Mrs. Berkes, Brooks School’s second headmistress.

OPERATING BUDGET

7%

Funded by endowment 6

EMPLOYEE SALARIES AND PROFESSIONAL DEVELOPMENT

$6,711,521

Restricted for support of employee salaries and professional development

100%

Of employees participate in ongoing professional development every year through workshops, conferences, classes, sabbaticals, and research.

R O S SE FAMI LY S CHOL AR S HIP

The Rosse family established this fund in 1998 to support a scholarship that is awarded annually to a student who demonstrates financial need, academic stability, soundness of character, and adds diversity to the student body.

SER VI C E LE AR N ING FUND

The endowed Service Learning Fund, established by the Benvenuti familyin 2011, supports Service Learning initiatives throughout the School.

SK O K FAMI LY MATH ENR ICHMENT FU ND

The Skok family established this fund in 2006 and the income is used to support Middle School students with math remediation beyond the scope of the daily program.

T H E J E AN TR AVER S B O OK FUND

This fund was established in 2004 in honor of Jean Travers, headmistress, Brooks School of Concord (19661980). Money from this endowed fund is used for Lower School book acquisitions for the library.

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TH E NANC Y A SH K AR S CI ENCE F UND

This fund was established in honor of Nancy Ashkar, Lower School science teacher, who died in 2004.

Money from this endowed fund is used to support the science program.

TUI TI ON A S SI S TANCE F UND

This fund is available to the child of anyone who has been a full-time employee of Nashoba Brooks for ten or more years at the time of their disability or death or to a current student whose parent becomes disabled or dies.

W I L S ON F UND

Established in 1987 to support salaries for our teaching employees, this fund has made a significant difference in our ability to attract and retain excellent teachers.

$14,500,311

$15,413,780

$15,729,332

$13,712,983

$16,932,553

2016-2017

2017-2018

2018-2019

2019-2020

2020-2021

$13,629,144

2014-2015

$13,622,101

$13,461,769

2013-2014

2015-2016

$11,557,080

$9,712,705

2011-2012

2012-2013

$8,942,167

2010-2011

END OWMENT: 10 YE AR G R OW TH $2M MOVED TO CAPITAL RESERVES AT BOSTON PRIVATE

9.62% 74.33% $16,932,553

10-year average return on endowment Increase in total endowment over the last 10 years Endowment assets 2020-2021 (as of June 30)

IT ’S TIME FOR PHA SE 3 !

It’s time to reach as far as we can to match our students’ ever-expanding love of learning, their insatiable curiosity, their limitless creativity, and their vast potential. It’s time to complete The Campaign for Our Future. Join us as we bring a brilliant new vision for Nashoba Brooks to life.

We would love to discuss the impact of making a gift to The Campaign for Our Future with you.

Please contact Director of Development, Jevan Jammal ‘02, at jjammal@nashobabrooks.org or 978.369.4591 ext. 122.