Our Idea of Excellence
Our vocation.
The conversation between student and teacher is the heart of our school; all that we do must be born of and nourish that relationship. We are called to challenge the minds, fire the imaginations, and train the bodies of the young people who have been entrusted to us; to enlarge their spiritual lives and to increase their capacity for mutual and self-respect. We intend to prepare them to learn confidently for the rest of their lives and to give generously and joyfully to others. We can accomplish these things only if we keep our students safe and well while they are in our charge.
Our obligation.
We must ask our young people what they believe in so they can know themselves in the world. We must give them the tools of rigorous and passionate intellectual inquiry and self-expression so they can grow. In our commitment to diversity, we must show our students how to be colleagues and friends so they can act out of respect and love. We must lead them to distinguish right from wrong and then do what is right so they can be persuasive and courageous citizens.
Our promise.
As a school community with these purposes and responsibilities, we will engage the larger communities of city, nation, and world of which we are a part. We will serve our neighbors. We will live fully in our city—exploring its byways and playing over its terrain. We will learn its history and traditions, and what it can teach us of the arts and sciences. We will embody and celebrate its diversity.
Our means.
Labore et virtute. The terms of our motto, hard work and moral excellence, are meant to strengthen us as we pursue the promise and joy of Trinity School. We ask Trinity families, alumni, and friends to join us in taking on this high calling.
Trinity School Annual Report 2024-2025
Head of School
Alexis Mulvihill
Associate Head of School for Advancement & Operations
Myles B. Amend
Director of Communications
Kevin D. Ramsey
Please note: This issue of Annual Report deals solely with the 2024-2025 fiscal year, which ended 30 June 2025. All gifts received after that date will appear in the 2025-2026 Annual Report. Every effort has been made to ensure the accuracy and completeness of this report. Please accept our apologies for any errors or omissions and report them to the Office of Advancement at 212-932-6860.
Annual Report is published each year by Trinity School and is sent free of charge to alumni, parents, and other friends of the School. POSTMASTER: Send address changes to Trinity School, Annual Report, 139 West 91st Street, New York, NY 10024-1326.
Trinity School admits students of any race, color, gender, gender identity or expression, religion, national or ethnic origin, disability, or sexual orientation to all the rights, privileges, programs, and activities generally accorded or made available to students at the School. It does not discriminate on the basis of race, color, gender, gender identity or expression, religion, national or ethnic origin, disability, or sexual orientation in administration of its employment policies, educational policies, admissions policies, financial aid programs, or athletic and other School administered programs.
© Copyright 2025 by Trinity School, 212-873-1650, 139 West 91st Street, New York, NY 10024-1326. All requests for permissions and reprints must be made in writing to Trinity School Annual Report, 139 West 91st Street, New York, NY 10024-1326. Reproduction without permission is strictly prohibited.
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DEAR FRIENDS,
On behalf of the board of trustees, it is my pleasure to present Trinity School’s 2024–2025 Annual Report. As Trinity enters its 317th year, our school is stronger than ever—rooted in tradition, yet eager to embrace the future.
This past year was a seminal one in Trinity’s history. We welcomed Alexis Mulvihill as our 30th Head of School—our first permanent female head. For an institution as old as ours, this is a truly historic moment. Alexis has already left her mark, offering her own interpretation of our motto, Labore et Virtute, urging us to see Trinity as unapologetically and joyfully academic, and at the same time as a community that lifts each other up. It is a fresh expression of an idea that has long sustained us and one that will continue to shape Trinity’s character as we enter this next chapter.
Looking ahead, the years to come will bring both opportunities and challenges. Among them is the rise of artificial intelligence—a societytransforming development. AI will reshape not only what and how we teach, but also invite us to confront deeper questions about the very nature of education. Trinity’s history reminds us that we have always adapted our curriculum and our pedagogy, and we will do so again. That work begins now and will continue in the years ahead.
We also celebrate our community’s support and generosity. Last year’s Trinity Fund was record-breaking, raising more than $7.7 million to support our students, teachers, and programs. This extraordinary achievement was made possible by the dedicated leadership of Associate Head of School for Advancement and Operations Myles Amend and his colleagues, the tireless efforts of our volunteers, and—most importantly—the generosity of our parents, alumni, and friends. On behalf of the entire board of trustees, thank you.
Your support carries Trinity forward, in the same spirit of stewardship that has sustained Trinity across generations. When you give to Trinity, you are not only enriching the experience of today’s students—you are investing in an institution that will shape lives for generations. Our children will always be part of this community, long after they have graduated, and your generosity ensures that Trinity remains as strong tomorrow as it is today.
As we look to the future, we are inspired by Trinity’s mission and invigorated by the opportunities before us. Together, drawing on our history, celebrating our present, and preparing for what lies ahead, we will ensure that Trinity continues to thrive as a place of excellence, joy, and community for generations to come.
Gratefully,
Igor Kirman, P’22, P’24 Board President
DEAR FRIENDS OF TRINITY SCHOOL,
My favorite part of being head of school is expressing my deepest thanks!
I want to begin by thanking Igor Kirman for his exceptional leadership as board president and for the moving remarks he has shared about the wonderful support Trinity received in 2024-2025. Igor is a trusted friend, a steady touchstone, and one of the most dedicated people working to keep our community strong and focused on the future.
I also want to thank all of you, from the bottom of my heart, for your profound generosity toward our beloved school. Our culture of philanthropy materially improves the lives of our students, teachers, and the broader community. I hope this publication fills you with as much pride in our community as I feel every day.
I am repeatedly reminded about the real, tangible effect your gifts have on our students and programs; and by the incredible spirit of generosity that defines our community and inspires these contributions. This dedication ensures that we can continue to offer the best possible experience for every student.
With deepest thanks and profound optimism for our shared future,
Alexis Mulvihill Head of School
TRINTY SCHOOL REPORTS
ADMISSIONS AND FINANCIAL AID
Trinity School remains one of the finest educational institutions in the city thanks to its superb academic program and flourishing community. The 2024-2025 admissions year was another outstanding year for Trinity, with an abundance of highly qualified applicants. The School continues to attract and select exceptionally strong candidates through its competitive admissions process.
• Admission to Trinity is remarkably competitive for pre-school age children applying to Kindergarten and eighth grade students applying to Grade Nine. During 2024-2025, 575 applications were received for sixty-two Kindergarten places and 498 applications were received for sixty-six Grade Nine places.
• While twenty percent of Trinity students throughout the three Schools receive some form of financial aid, more financial aid money is necessary to enroll a strong and increasingly diverse group of students. A greater endowment is also essential if the School is to increase access for qualified students of different economic backgrounds.
• The Office of Admissions continues to achieve great success in selecting outstanding candidates. This, along with the desirability of a Trinity education, is reflected in the phenomenal number of students who choose to enroll at Trinity. During 2024-2025, ninety two percent of all Kindergarten applicants and sixty-five percent of all Grade Nine applicants who were selected by the School chose to enroll at Trinity.
MATRICULATION OF THE CLASS OF 2025
The members of the class of 2025 have enrolled at the following colleges and universities.
Amherst College
Bard College
Barnard College
Binghamton University, State University of New York
Bowdoin College
Brandeis University
Brown University
Bucknell University
Case Western Reserve University
Colby College
Colgate University
Columbia University in the City of New York
Cornell University
Dartmouth College
Davidson College
Duke University
Emory University
Franklin & Marshall College
Georgetown University
Harvard University
Howard University
Lehigh University
McGill University
Middlebury College
New York University
Oxford College of Emory University
Pitzer College
Pomona College
Princeton University
Skidmore College
Smith College
Stanford University
The George Washington University
The Ohio State University
The Pennsylvania State University
The University of Chicago
The University of Texas at Austin
Trinity College
Tufts University
Tulane University
University of Notre Dame
University of Pennsylvania
University of St Andrews
Vanderbilt University
Washington University in St. Louis
Wellesley College
Williams College
Yale University
CONSOLIDATED STATEMENT OF ACTIVITIES
YEAR ENDED 30 JUNE 2025
(with summarized information for the year ended 30 June 2025)
Operating activities: Support and revenue:
and fees, net
Rental loss (net of expenses of $396,355 and $3,734,699 in 2025 and 2024, respectively)
and revenue before
EXPENDITURES
2.07%
SERVICE
0.60%
3.25%
9.61%
59.85%
10.70%
13.93%
Nearly all of Trinity’s resources support the School’s primary mission of educating students. Of the School’s annual expenses of $81.5 million approximately eighty-four percent supports the students’ education in the form of faculty and staff salaries and benefits, instructional materials, and student financial aid. The remaining sixteen percent of Trinity’s expenditures includes maintenance of the School’s physical plant, the provision of high-caliber information technology, and debt service on the bonds that were issued in order to construct the Henry C. Moses Middle School and the new building, Annex link, and related renovations.
• The cost of a Trinity education significantly exceeds the full cost of tuition for every student. In order to supplement each student’s education, even those paying full tuition, Trinity relies on the generous donations of alumni, current parents, grandparents, trustees, and other friends of the School. Gifts that are made to the Trinity Fund and the endowment, as well as donations to the Holiday Fair and spring benefit, support a Trinity education for all who attend the School.
• In order to maintain the highest educational standards, Trinity provides opportunities such as a highly-skilled professional faculty, small class size, and an excellent ratio of teachers to students. These practices are not only highly effective, they are also fundamental to the success of the School and must be continued.
• With the cost of living in New York continually rising, it is crucial that Trinity be energetic in its efforts to retain and recruit faculty who will offer students the very best quality of education.
INCOME
4.66%
TRANSFER FROM ENDOWMENT
9.69%
83.41% GIFTS
TUITION AND FEES
2.24%
INTEREST AND OTHER INCOME
Trinity School remains far too dependent on enrollment, with tuition and fees the primary sources of its income. The Trinity Fund and the endowment, which both contribute to the annual operating budget, provide a consistent stream of income, but more must be done to safeguard Trinity’s future. Continued reliance on tuition and fees hinders growth of academic programs, as any additional programmatic expense must be passed on as an increase in tuition. Growth of Trinity’s charitable giving will have a tremendous impact on the financial stability of the School, greatly increasing its ability to offer enhanced educational opportunities for all students.
• Over time the cost of providing a Trinity education has risen faster than inflation predominantly because of the labor-intensive nature of education and the high cost of doing business in New York City. Intense competition for faculty, ever increasing maintenance expenses, and technological advances have raised costs and, as a result, increased the need for additional funds.
• Together, Trinity Fund gifts and endowment income (the percentage of endowment the board decides to spend annually) make up fourteen percent of the School’s income; while tuition and fees make up eighty-three percent.
• Tuition at Trinity is among the highest among New York City independent schools, as is its dependence on tuition as an income source is one of the highest. Continual increases in philanthropic support are necessary if Trinity hopes to decrease its reliance on tuition as a primary source of income.
ENDOWMENT FUNDS
ENDOWMENT AND PLANT FUNDS
FINANCIAL AID
Berrisford Scholarship Fund
$32,980
Bluhdorn Scholarship Fund $532,120
Bode Scholarship Fund
$3,420
Clarence Bruner-Smith Scholarship Fund $2,813,290
Caffrey Scholarship Fund
$47,515
Edward Cimilluca ‘56 Financial Aid Endowment $276,515
Class of 1989 Scholarship Fund $22,325
Class of 1991 Scholarship Fund
$45,110
Class of 1993 Fund for Coeducation $162,200
Class of 1994 Scholarship Fund $157,465
Class of 1998 Scholarship Fund $3,140
Class of 1999 Fund for Scholarship $247,270
Class of 2000 Scholarship Fund $373,335
Class of 2003 Financial Aid Endowment $100,920
Class of 2019 Scholarship Fund $533,235
Class of 2020 Unstoppable Fund $146,285
Cortelyou Scholarship Fund $456,860
Davenport Scholarship Fund $2,685,475
Eisenberg Family Fund for Financial Aid $289,620
Endowment Fund for Diversity $725,160 in the Lower School
General Scholarship Fund $894,655
John J. Hanly Scholarship Endowment Fund $219,360
Headmaster’s Scholarship Fund $5,139,265
Edwin A. Heard Jr. ’44 Financial Aid Fund $659,830
Henry C. Moses Financial Aid Endowment $4,319,090
George Herland Scholarship $48,035
Joseph and Marion Heffernan Scholarship Fund $93,350
William Randolph Hearst Scholarship Fund $205,815
The Golden Family Financial Aid Fund $72,415
John McEnroe Scholarship Fund $451,160
Reunion Giving Initiative for $923,495 Financial Aid Endowment
Rodney Propp Family Fund $140,965
Hugh Riddleberger Scholarship Fund $25,230
Rudin Financial Aid Endowment $277,955
W.A. Schiffer Scholarship Fund $40,760
M. Sosnoff Scholarship Fund $1,918,565
Rosenwald-Feldman Fund $578,100
Cecilia Sandoval Memorial Fund $6,545
The Frank Smith Scholarship Endowment $82,680
Trinity Scholarship Fund $5,660,295
The Lafer Family Scholarship Endowment $398,190
The John Barry Baldwin ’58 $1,074,005 Financial Aid Endowment
The Betsy Chi Urias Financial Aid Fund $186,185
The Smith Family Scholarship Fund $268,500
The Peter A. Douros ’77 Memorial $20,000 Financial Aid Fund
FACULTY ENDOWMENT
Class of 1990 Faculty Endowment Fund
Class of 1993 Fund for Faculty Endowment
$175,960
$162,055
Class of 1994 Professional Development Fund $157,510
Class of 1996 Fund for Faculty Enrichment
Coaching Endowment Fund
$150,265
$60,400
Distinguished Teaching Endowment Fund $482,380
SPECIAL PROGRAMS AND PROJECTS
Abrams Film Fund
$27,560
Anne Adams Memorial Endowment Fund $49,145 for the Archives
C. Bruner-Smith Fund in Literature
$39,890
Class of 1997 Technology Fund $206,375
Class of 2001 Technology Fund
$1,444,735
The Colvin Family New Initiatives Fund $232,935
The Domestic Experiential Learning $306,975 Initiative Endowment
The James H. Fogelson Memorial $156,480 Mathematics Symposium
Ruth B. Hackney Endowment for $640,765 Global Travel and Cultural Studies
Patricia and Kyle Hawkins
$28,945 Multicultural Enrichment Fund
Helen Sentner Johnson Playground
$1,010
The Nasta Family Endowment for Public Service $23,505
Performing Arts Endowment
$64,005
The David Roberts ‘02 and $130,660 Julia Roberts Global Engagement Endowment
Barbara Robinson Collection
Science Computer Fund
Science Fund
Silverman Technology Fund
$8,815
$29,900
$61,175
$382,885
Endowment for Faculty $758,180
Faculty Enrichment Fund $6,042,745
The Paul Philippe Bolduc $109,235 Faculty Fellowship Endowment
Robin and Helen Lester Faculty Endowment Fund $497,130
Joe L. and Hilppa A.K. Roby $374,720 Upper School Faculty Endowment
Suellyn Preston Scull Endowment for $1,513,745 Professional Development
Susan Stein Shiva Memorial Fund $154,720
Louis Stone and Stanley L. Kaufman Film Fund $108,195
Trinity Parish Chaplaincy Fund $2,477,350
The Wallach Administrator $196,975 Travel Grant Endowment
Women’s Varsity Athletic Program Fund $163,490
Robert Lehman Art History Curriculum $376,820
J. Sheafe Satterthwaite Endowment Fund $108,085
Branch Elliman Science Endowment Fund $850,580
Nicholas J.P. Kau ’08 Fund for $307,180 Shakespeare and Wrestling
Nolop STEM Fund $331,225
The Marcus De Costa Fund for $204,765 LGBTQ+ Inclusion and Support
Wanita Camp Charitable Remainder Trust $12,020
The Class of 2022 Community and $251,195 Wellness Endowment
The Class of 2023 Student Life and $482,750 Well-being Endowment
The Class 2024 Experiential Learning Endowment $154,995
The Ritter Aiello Family Endowment for $37,935 Domestic Travel and Science
The Class of 2025 Endowment for $160,940 Athletics and the Arts
PRIZES AND AWARDS
American Geriatric Society Prize Fund
Anne Adams Prize in Literacy
$3,140
$17,030
The Blumenthal Prize in European History $1,505
Bonsall-Langford Fund
Bronx Opera Prize
$11,385
$1,695
Jack Calderon Prize in Photography $6,235
Elaine Elliot Prize Fund
$8,095
Annelle Fitzpatrick ’96 Award for $48,595 Gentleness of Spirit
J. Hanly Community Service Award Fund
Jerzy Kosinski Fund
McVickar Citizenship Prize Fund
Religion Prizes Fund
Trinity Parish Religion Prize Fund
$17,945
$50,320
$31,970
$645
$9,280
Warren W. McCollum Theatrical Prize $1,915
THE ROLE OF ENDOWMENT
UNRESTRICTED
General Purpose $31,550,950
Hawley Trust Fund $580,525
Lower School Fund $18,870
Edwin R. Maslen Endowment Fund $798,940 Mooney Fund $67,935
As expenses for providing a Trinity education continue to rise, the School’s sources of income are perpetually under strain. Endowment income must increase in order to relieve the strain placed on tuition. An increase in endowment is critical in meeting the School’s needs and maintaining its position as a leader in high-quality education in New York City. Trinity is continually making a deliberate effort to increase endowment and relieve financial pressures on expendable operating income sources like tuition and fees.
• Trinity’s per student endowment is one of the smallest in our peer group. The Brearley School, for example, has an endowment-to-student ratio that is roughly $100,000 more per student than Trinity’s.
• The endowment is not a single entity, but rather slightly over one-hundred individual funds established for a variety of purposes and consisting of both donor-restricted endowment funds and funds designated by the board of trustees to function as endowment.
• Trinity’s $87 million endowment provides critically needed stability. The majority of income, however, has been designated for specific purposes, which limits the endowment income that can be used to supplement annual operating costs.
• Only thirty-eight percent of Trinity’s endowment is completely unrestricted—not designated for a specific, unchanging purpose. Other schools have endowments that are close to 100 percent unrestricted, which allows for maximum flexibility in spending policy.
TOTAL ENDOWMENT 2024-2025 $87,284,965
These figures reflect fund balances as of 30 June 2025.
TRINITY FUND SUMMARY
*Please note that many donors are members of more than one constituency.
2025-2026 TRINITY SCHOOL BOARD OF TRUSTEES
Officers
Igor Kirman
President
Chair, Executive Committee
Lauren Davis Levine ’94
Secretary
Cary J. Davis
Treasurer
Caroline Hribar ’96
Vice President
Conrado Tenaglia
Vice President
James M. Deutsch ’96
Vice President
Nicole S. George-Middleton ’93
Vice President
Jennifer S. Selendy
Vice President
Iva Mills
Vice President
Justin E. Lubell ’02
Vice President
Alexander H. Southwell
Vice President
Rainu Kaushal
Vice President
Members
Jesse Angelo ’91
John P. Arnhold ’71
Emeritus
Adrienne Barr
Philip E. Berney
Emeritus
Andrew R. Brownstein
Emeritus
Geoffrey J. Colvin ’70
Emeritus
Jennifer Conway
Kelley A. Cornish
Mona DAttilio
Ex Officio
President, Parents’ Association
Peter H. Friedland ’94
Chandrabali Ghose-Paul
Kelly Granat
Damaris R. Hernandez ’97
Eileen P. Kavanagh
Victor “Tory” K. Kiam III ’78
Emeritus
William P. Lauder ’78
Emeritus
Rabbi Joy Levitt
Katherine Haves Malitzky ’08
Ex Officio
President, Trinity Alumni and Alumnae Association
Emily F. Mandelstam
Emerita
Raymond McGuire
Matthew McLennan
Emeritus
Ashmi Mehrotra
Melissa Murray
David Perez
Griffin Schroeder
Benjamin R. Shute Jr. ’54
Emeritus
Douglas T. Tansill ’56
Emeritus
George Walker
Jean Weinberg-Czepiel ’98