ABOUT THIS REPORT

The 2018-19 Annual Report reflects all donations received by Friends Seminary between July 1, 2018 and June 30, 2019. Charitable donations are an essential and growing part of the School's budget. We are most grateful to our generous donors who support the Fund for Friends, the endowment and capital projects, as well as our dedicated volunteers whose achievements are essential to helping Friends “bring about a world that ought to be.”

 

Great care has been taken in preparing this report to make it as accurate as possible. If you should note an inaccuracy, please notify us at 646-979-5054 or advancement@friendsseminary.org, so that we may amend our records. The Annual Report is only available through the friendsseminary.org website and is not available to search engines.

*Please note: The Fund for Friends was formerly named the Annual Fund.

WELCOME

from the Principal

Dear Friends,

 

On behalf of the Board of Trustees, I am delighted to share this 2018-2019 Annual Report of Gifts and to recognize and reflect on the members of this vibrant community who have honored Friends Seminary with their philanthropy, their volunteerism, and their partnership. 

 

Author and scholar Ralph Ellison said, “Education is all a matter of building bridges.” At Friends Seminary bridges provide access, connect people and experiences, and lead the way to opportunity. Fundraising efforts like the Fund for Friends and the annual Benefit contribute crucial resources to help build these bridges at Friends each year. Your gifts help make financial aid available to one in five Friends students, ensure respectful teacher salaries, enhance our growing Global Education program, and so much more. In all, the Fund for Friends raised more than $2.5m last year, thanks to 82% of parents, 70% of faculty and staff, and 16% of alumni. Browse through this report for more detailed stories showing your impact.

 

2018-2019 was also the final year of the Light the Future Campaign, which raised $55.2m for the Campus Redevelopment Project, endowment and the Fund for Friends. Thanks to your generosity we opened our doors in September 2019 to a Campus Reimagined. Where once there were three townhouses joined together by multiple staircases and uneven floors, there now stands one beautiful, 100% accessible building with seamless transitions between it and Hunter Hall. Housed behind the restored 1852 facade is a new home for the Upper School; a resource, gathering and teaching space for the Center for Peace, Equity and Justice; an Archive to hold documents from the School’s rich history; a Great Room for performances, lectures and community gatherings; and so much more. To see a full report on the Light the Future Campaign, click here. If you have not had the opportunity to do so already, we invite you to tour the new Townhouse building. Please reach out to Katherine Precht at kprecht@friendsseminary.org to schedule a tour.

 

So many of Friends community members — parents, alumni, parents of alumni, grandparents, trustees, faculty, staff and friends — supported Friends through philanthropic contributions. We are deeply grateful to each and every one of you for the generous gifts recorded in the Annual Report. It is equally important to recognize the hundreds of volunteers who help further Friends’ mission on a daily basis. From alumni reaching out to former classmates, to parent volunteers for the Fund for Friends, to the members of the Parents Association, our volunteers are vital to Friends’ success. Our community’s strength lies in your commitment to service to the School. 

 

As I enter my 18th year as Principal at Friends, it continues to be an honor to lead this special school. I extend my gratitude to our dedicated Trustees, and give special mention to our outgoing Co-clerks, Elizabeth Enloe and Matthew Annenberg ’83. Their leadership and stewardship of the School and its resources has been a gift beyond measure. We welcome Isaac Henderson as the new Clerk of the Board. Please join me in holding in the Light Isaac and his fellow Trustees as we enter into a new era at Friends, building new and ever-stronger bridges to a brighter future, living our mission to “prepare students for the world that is and help bring about a world that ought to be.” 

 

With deep gratitude for your continued support,

 

Robert “Bo” Lauder

Principal

2018-2019
OPERATING INCOME

TOTAL OPERATING INCOME: $44,441,884

Tuition & Fees
$37,438,757 (84%)

 

Gift Income
$2,890,833 (7%)

 

Other Income

$2,874,511 (6%)

Interest from Endowment & Temporarily Restricted Funds
$1,237,783 (3%)

2018-2019
OPERATING EXPENSES

TOTAL OPERATING EXPENSES: $44,441,884

Salaries & Benefits
$26,198,952 (59%)

 

Financial Aid
$5,562,695 (13%)

General Operating
$2,654,991 (6%)

Plant & Operations
$2,491,984 (6%)

Instructional Activities &
Professional Development
$2,953,601 (7%)


Debt Service
$641,786 (1%)

Rent to NYQM and Shared Maintenance Fund

$977,195 (1%)

Board Designated Funds

$2,960,680 (7%)

TOTAL ENDOWMENT
(as of June 30, 2019)

$33,331,857

$7,094,718

TOTAL PHILANTHROPIC

SUPPORT

(July 1, 2018-June 30, 2019)

 

CURRENT OPERATING
FUNDS

$2,904,352

Fund for Friends*
$2,531,655

 

Faculty Enrichment
$316,400


Restricted Current Operating
$56,297

CAPITAL FUNDS
$3,894,885

Auction 2019
$768,845

 

Light the Future (Facilities)
$2,681,273


Light the Future (Greatest Need)
$289,314

Senior Gift 2019
$155,453

ENDOWMENT FUNDS
$1,509,093

Board Designated Bequest Fund

$100,000

Light the Future (Unrestricted Endowment)
$15,114

Light the Future (Endowment for Financial Aid)

$1,015,025

Light the Future (Restricted Endowment)
$366,454

 

Other Endowment (Lift Every Voice & 225th Anniversary)
$12,500