Town is in excellent fiscal health.
The Town School is fortunate to have a healthy, growing endowment while carrying no debt. Town’s endowment was created by the sale of the school’s air rights in 1982 to the Glick Corporation, and with subsequent targeted fundraising as well as wise investment the endowment has grown to nearly $41 million.
Our budget is fairly simple.
Our greatest expense goes to our greatest resource, our faculty and staff, including salaries, benefits, and professional development. Our greatest source of income is tuition, but tuition alone does not cover the cost of providing a Town education. We bridge this gap through Annual Giving, Town's annual Benefit/Auction, and earned interest income from our endowment.
Your support through Annual Giving is especially important for the 2020-21 school year as Town has made many necessary investments toward successfully opening the school safely for in-person and physically-distanced learning. These investments covered the increased technology needs for in-person and at-home learning, personal protective equipment (PPE) and other expenses associated with modifying the building and work spaces, and cleaning services and supplies, to name a few. In addition, a special appeal was created for current families in need of financial support due to the economic impact of COVID-19 on NYC and our school community.
The charts below illustrate Town's financial priorities and the importance of Annual Giving for 2020-21.