A MESSAGE FROM lESlEy MARKS P’21,’23 chAiR OF thE cREScEnt SchOOl FOundAtiOn

As at June 30, 2022, The Crescent School Foundation achieved a year-end value of $20.27 million. After several years of rising markets, this past year was a more difficult one for investors as balanced portfolios experienced negative investment returns from both bond and equity components. Rising inflation and the war in Ukraine created a negative backdrop for Canadian and global equity markets and bonds. These are asset classes that are represented in the Crescent School Foundation investment portfolio.

From time to time, we experience negative market returns due to unforeseen events or cyclical market factors, but we are committed to a long-term view towards investing rather than trying to time markets and believe that our portfolio continues to be well-positioned through diversification across asset classes and investment styles for the eventual recovery in capital markets.

New donations in FY22 from our generous donors were directed towards Student Financial Assistance, Headmaster’s Discretionary Fund, Robotics and Technology, Student Health & Wellbeing, and Local Outreach. I would like to offer a special thank you to parents of the Class of 2022 who established The Grant, Jansen, Porteous Class of 2022 Scholarship in honour of their sons’ graduation and three beloved faculty members upon their retirement. These parents raised $41,000 in support of endowed Student Financial Assistance.

In FY 2021/2022, The Foundation disbursed over $651,000 in support of various School programs with approximately 76% directed in support of needs-based Student Financial Assistance. This annual disbursement continues in perpetuity ensuring critical funding to key programmatic areas that directly benefit our boys.

The Foundation’s Directors review quarterly and annual financials and establish and review investment and disbursement policies. In addition, the Foundation Board conducts annual reviews of the firms we employ to manage the endowment, to preserve and grow the Foundation’s assets in the long term. Endowment donations are incredibly important to ensure the sustainability of the School’s programs and we take our stewardship responsibility in this regard very seriously. We strive to continue to receive your trust and confidence in the years ahead.

This was my first year as Chair of The Crescent School Foundation. I’d like to thank the Advancement and Finance Offices at Crescent School for their hard work on behalf of The Foundation, and my fellow Directors for their diligence and commitment to preserving and growing the endowment.

Sincerely, lesley Marks P’21, ’23

Chair, The Crescent School Foundation

FOundAtiOn diREctORS

2021/2022

Lesley Marks P’21, P’23, Chair

Dominique Barker P’25

Rita Caporiccio P’17, ’20

Sante Corona, P’19, ’23

Christopher John P’26

Bob Livingston P’02, ’05, ’07

Jay McConnell ’12

Jeremy Millard ’95

Cassandra Oravecz P’20, ’21

W. Ian Palm ’85

Jonathan Pollack ’89, P’23

Nicholas Warwick ‘06 oFFicers

Jill Cannon P’25, Secretary Director of Advancement

Arjuna Kadawathage, Treasurer Director of Finance ex-oFFicio

Michael Fellin P’24, Headmaster

Jamie Coulter ’87, P’21, Chair of the Board of Governors

John Lynch, P’16, ’18, Executive Director, External Relations

Carolyn Smith-Green, Chief Financial & Administrative Officer