What Endowment Can Do
With a larger endowment—ours stands at approximately $22 million—we will be able to fund, in perpetuity, many of the programs we care most about. An endowment is a pool of invested funds, the proceeds of which are used to fulfill needs, make realities out of dreams. As the economy wavers, the number of students whose parents can afford to pay full tuition dwindles. The families of bright, talented students from every socioeconomic background are increasingly seeking financial assistance. Just imagine if the income from our endowment allowed us the financial freedom to attract and admit the most promising students from virtually any ethnic, racial, or economic background. We would be able to shape the most diverse student body in northern New Jersey and offer unlimited learning opportunities for our students. Planning for Tomorrow
A more substantial endowment will also allow us to do more for the passionate teachers whose inspirational work with students lays the groundwork for their success in college and beyond. An increased endowment will bolster our financial strength, enabling us to continue to
pay our faculty members well and offer educational and professional development benefits—the kind that attract and retain the nation’s best teachers. Through Rise & Flourish: The Campaign for Newark Academy, we seek to increase the size of our endowment to $30 million, both through outright gifts and planned giving. Endowed Fund for Faculty Housing
Newark Academy values its faculty and makes it a priority to ensure that these talented individuals are rewarded for their efforts in and out of the classroom by making available a range of personal and professional development opportunities. The Endowed Fund for Faculty Housing, created in 2007 and generously funded by Jay A. Kislak ’39 and former NA trustee and parent Andrew Senchak, provides qualifying faculty with financial assistance in the purchase of their first home. The Fund aims to relieve some of the financial burden associated with buying a home for the first time in northern New Jersey’s expensive real estate market. The fund offers a unique and valuable benefit that aids Newark Academy in attracting and retaining talented faculty members.