China Legacy Fund
Plan for 2019 As of March 13, 2019
Contents American Educational Business Model NMH History NMH Budget Model: Sources and Uses NMH Business Model: Managing the Budget NMH Business Model: Funding New Buildings NMH Donations in FY2018: Total Giving Progress Toward Goals China Legacy Fund Mission and History China Legacy Fund Progress Report Ways to Donate China Legacy Fund Committee Upcoming Events NMH Mission Statement 2
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China Legacy Fund Goal The goal of the China Legacy Fund is to honor the long history of successful Chinese students at NMH and to raise significant funds for NMH. These funds support current students and faculty and underwrite priorities set by the NMH Board of Trustees. In 2019, the schoolâ€™s priorities are donations for the NMH Fund and donations for the completion of the Gilder Center for Integrative Math and Science Education.
American Educational Business Model
Private U.S. boarding schools, colleges, and universities rely on philanthropic donations from individuals to help support their missions.
The cost of tuition alone does not cover the total cost of education; donations pay for a percentage of the total cost.
As a private U.S. non-profit boarding school, NMH does not receive any government funds.
Last year, U.S. educational institutions received $57 billion in total donations.
The desire to promote the welfare of others, expressed especially by the generous donation of money to good causes.
Donations in the U.S. in 2018 totaled $410 billion
NMH History 1879+ ● Only poor students were admitted to the school; very little tuition charged ● Two schools on two campuses (one for girls, one for boys) 1950s-1972 ● Sliding scale for tuition (pay what you can) ● Two schools on two campuses (one for girls, one for boys) 7
Chan Loon Teung was the first Chinese graduate of Mount Hermon School for Boys, in 1892, and the first Chinese graduate of Harvard University, in 1897.
NMH History 1972-2005 ● 50% of students on financial aid ● Low endowment and low donations ● Two campuses for boys and girls 2006-Present ● More sustainable business model ● More full-pay families ● One campus for boys and girls
Students at International Carnival 2019
NMH Budget Model: Sources and Uses
NMH Business Model: Managing the Budget Similar to other private U.S. boarding schools, colleges, and universities, at NMH, tuition alone does not cover all of the costs for the year. In fact, it costs an additional $17,000/student to balance the budget. Current boarding tuition: NMH subsidy: Real total cost/student
$63,500 + $17,000 $80,500
NMH Business Model: Managing the Budget Where does that annual tuition subsidy come from?
Donations from parents and alumni (graduates of NMH)
Earnings from invested funds (which have been donated)
NMH Business Model: Funding New Buildings
Funds for special building projects, like the Gilder Center for Integrative Math and Science Education, do not come from the annual budget.
All funds for buildings must be raised through donations from parents and alumni.
The NMH Board of Trustees requires that all cash is raised before buildings can be built.
NMH Donations in FY2018: Total Giving Last year NMH raised $17 million in donations. This revenue covered parts of the budget as well as new building projects and campus improvements.
Progress Toward NMH Fund Goal of $3.25 Million
The NMH Fund supports your students immediately.
Progress Toward Gilder Center Goal of $38 Million
Construction begins when all cash donations are received.
China Legacy Fund
China Legacy Fund Mission The mission of the China Legacy Fund is:
To support NMH and its continuous growth through fundraising initiatives;
To unite Chinese families in this noble legacy and honorable effort;
To connect Chinese families, ensuring that they provide the resources necessary for all of their students to have a successful and fulfilling tenure at the school.
China Legacy Fund History The China Legacy Fund (CLF) was established in 2018 by mainland Chinese families of current students. Their goal is to honor the long history of successful mainland Chinese students at NMH and to raise significant funds for the school. The first Chinese NMH graduate, Chan Loon Teung, was born in Canton, China, in 1866 and was part of the Mount Hermon Class of 1892. He spoke at the 1887 Mount Hermon commencement wearing â€œfull Chinese dressâ€? to represent China and his Chinese classmates. Chan Loon Teung then went to Harvard University as their first Chinese student and graduated from Harvard in 1897.
Chan Loon Teung Mount Hermon Class of 1892
China Legacy Fund Purpose, Use, and Recognition The purpose of the China Legacy Fund is to support NMH with donations from parents who identify with the long legacy of Chinese representation at NMH. All donations to NMH from Chinese families â€” for both the NMH Fund and the Gilder Center â€” will be counted in the China Legacy Fund. A recognition plaque with all donor names (except those who have requested to be anonymous) will be placed in an appropriately prominent location in the Gilder Center. All donors who wish to claim an additional naming opportunity are welcome to do so, and their name will be listed in both places. 20
Chinese New Year Celebration at NMH
February 1, 2019 21
China Legacy Fund Progress Report
China Legacy Fund Range of Donations (Starting in 2017 and to date)
Ways to Donate to the China Legacy Fund Families may designate their giving to the China Legacy Fund via the school website, U.S. or Chinese credit card, checks drawn from U.S. banks, U.S. currency, and/or wire transfer. 1.
All donations of $50,000 or less will be designated to the NMH Fund (annual donations).
For donations of $50,001 and above, the first $50,000 will be designated to the NMH Fund and the balance will be designated to the Gilder Center for Math and Science.
NMH must be able to identify donations from individual families. NMH must also know if the familyâ€™s name can be listed on a plaque or if the family chooses to be anonymous. 24
China Legacy Fund Committee The China Legacy Fund Committee was initiated by an inspired group of parents who want to ensure the evolution of the remarkable legacy of Chinese representation at NMH. They also want to ensure that all Chinese families and their students are well connected, and well supported, during their tenure on campus as well as upon graduation, and that Chinese families have the opportunity to invest in NMH’s continuous growth and development.
L-R: Lucy Fan P’22, Jenna Zhang P’20, Amy Xu P’21, Allyson Goodwin P’12, ’14, Catherine Li P’20, and Jackie Chang P’21 at the Chinese New Year reception on campus in February 2019. 25
The China Legacy Fund Committee was initiated by an inspired group of parents who want to ensure the evolution of the remarkable legacy of Chinese representation at NMH. The Committee wants to ensure that all Chinese families and their students are well connected, and well supported, during their time on campus as well as upon graduation, and that Chinese families have the opportunity to invest in NMH’s continuous growth and development.
China Legacy Fund Committee A small representation of parents from the committee met in New York City in the fall of 2018 to discuss how best to collaborate with NMH on this important fundraising initiative. The committee is working closely with the NMH Advancement Office to offer insights and guidance regarding the China Legacy Fund and its use, growth, and impact over time. The committee represents each student class (currently classes of 2019-2022) and the major cities of Shanghai and Beijing. NMH values the committeeâ€™s leadership and is very grateful for their service to the school. NMH invites other interested parents to join the committee. 26
China Legacy Fund Founding Committee Members
Judy Shan: Beijing Yiwei Chu: Shanghai
Henry Wu ’19 Julia Zhao ’19
Jenna Zhang: Beijing Catherine Li: Beijing/Boston/Amherst
Thomas Zhang ’20 Chris Haochen Zhao ’20
Amy Xu: Shanghai/NYC Jackie Chang: Shanghai
Madeleine Yang ’21 Alex Fan’21
Lucy Fan: Shanghai/Hong Kong/N.J. Lu Che: Beijing
Michael Jiaming Liu ’22 Kevin Chan ’22
Meet Brian Hargrove, Head of School Designate ●
Shanghai Tuesday, April 16, 2019
Beijing Wednesday, April 17, 2019
China Legacy Fund: NMH Contacts Allyson Goodwin ’83, P’12, ’14 Chief Advancement Officer Direct office phone: (413) 498-3212 | Cell phone: (413) 522-5442 WeChat ID: AllysonGoodwinNMH83 Mary Foulk Associate Director of Parent Engagement Direct office phone: (413) 498-3604 | Cell phone: (971) 998-5670 WeChat ID: MaryFoulkNMH Lisa Robinson Executive Assistant Direct office phone: (413) 498-3334 | Cell phone: (413) 887-7947 WeChat ID: LisaRobinsonNMH 1 Lamplighter Way | Mount Hermon, MA 01354 29
Education for the Head, Heart, and Hand Northfield Mount Hermon engages the intellect, compassion, and talents of our students, empowering them to act with humanity and purpose.