The Power of the Endowment

Through decades of generous philanthropy, sound investment practices, and thoughtful long-term planning, Woodberry has built financial reserves that provide almost 30 percent of the annual operating budget. The school can spend 5 percent of the average value (over the past three years) of endowment funds. This spending rule ensures that the funds are preserved in perpetuity to benefit the school. Other reserve funds support the repair, renewal, and replacement of campus buildings.

The school’s managed funds support these five major areas:

Program — These funds support Faculty/Staff — Includes everything from science lab faculty chairs, masterships, equipment to athletic and professional uniforms to food in development funds. the dining hall. Program The funds support $15.5 million Faculty/Staff $100.0 million salaries and benefits for faculty and staff, the school’s largest Capital Projects — The annual expense. Reserve for Renewals and Replacement Fund, known as the Triple R Fund, is invested, but it is not technically part of the endowment. Tuition The Triple R Assistance Fund also guarantees the school’s longCapital Projects $67.8 million Tuition Assistance $84.4 million — Provides about twothirds of the term debts of annual tuition $51 million. assistance The board’s policy is to keep enough money in the General (Unrestricted) funding. All tuition assistance is need-based. Triple R Fund to cover all $41.5 outstanding debt, so the full value of these funds cannot be spent. In million General (Unrestricted) — Can be recent years the Triple R Fund has used for any area of school life, from supported a wide range of projects, facility upgrades to program expenses including the Walker Building, Hanes Hall, to faculty and staff salaries. campus infrastructure, and faculty housing. There are also several smaller plant and *These are the top five areas of support. Totals maintenance funds in the endowment. do not equal $331 million because several smaller categories or funds are not listed.