The Power of Endowment

Among all the investments that are made at Country Day, none have a more lasting impact than the resources we add to the school’s endowment.

An endowment fund can be compared to a long-term investment or savings plan. It is a “permanent” fund in which the principal is invested and the earnings are spent. A strong endowment ensures Country Day’s long-term strength and stability.

Through decades of generous philanthropy, sound investment practices, and thoughtful long-term planning, Country Day has built financial reserves that provide essential funding across the life of our school.

HOW ENDOWMENT WORKS AT COUNTRY DAY

An endowment fund is established with a major gift from a lead donor.

Through prudent fiscal management by the Investment Committee of the Board of Trustees and additional support from other supporters, the endowment fund grows and produces investment income.

When fully funded, the school spends three percent of the average value (over the past three years) to ensure the funds are preserved to benefit the school in perpetuity.

THE SCHOOL’S MANAGED FUNDS SUPPORT FOUR MAJOR AREAS:

• Faculty/Staff Support Program $23.6M

• Financial Aid: $18.4M

• Unrestricted: $17.5M

• Program: $2.9M

ENDOWMENT 5-YEAR GROWTH

Country Day’s endowmentis the LARGEST among independent schools in North Carolina

2017: $57.5 million

2021: $62.5 million

74 : The number of restricted and unrestricted endowment and scholarship funds as of June 30, 2021.

Endowment funds 5% of the operating budget.

Affirming Community Through Endowment

The Gladys Tillett Coddington Memorial Scholarship Fund

As a former member of the Board of Trustees, past Parents’ Association President and Honorary Alumna, Gladys Tillett Coddington was a dynamic leader in the Country Day community when her children, Charles Coddington ’64, Gladys Coddington Harper ’66, Bill Coddington ’68, and Henry Coddington ’70, were students. Her family’s legacy at Country Day continues through her grandson Coddy Coddington, Upper School history teacher and department chair, and her great-grandchildren Avery ’27, Chloe ’27, and Estelle ’30.

With a lead gift from her son Charles, her family established the Gladys Tillett Coddington Memorial Scholarship Fund to provide financial assistance to a qualified and deserving Upper School student, with consideration to students who make Country Day a more diverse and inclusive community.

This generous gift ensures that her legacy continues and will enhance our school forever. Country Day is grateful to receive this gift as it beautifully aligns with our Affirmation of Community.

Gladys Tillett Coddington was inducted into the Honorary Alumni Association in 1984.

Country Day has been a key block in building a solid learning foundation for each of us. In my case, it was the door opening my interest in biology and science. Hopefully this scholarship will allow other children to have that same sense of awakening. Making the scholarship in our mother’s name completes an idea and motivation that she had as a Board member years ago, which sought to encourage a wide diversity of individuals and backgrounds to attend Country Day, allowing both the school and students to benefit.

—Dr. Charles Coddington ’64

Recognizing Leadership through Endowment : The Joe Miller ’95 Memorial Scholarship

Joe Miller ’95 passed away in 2020 after a courageous battle with colon cancer. Known as the life of every party, Joe was adored by all who knew him in the Country Day community. He was Senior Class president, recipient of the Head of School’s Award, and his senior superlative was Most Likely to Succeed. He was also an Eagle Scout, president of multiple clubs, a four-year Varsity Track athlete, and a member of the National Honor Society.

His wife Lisa, family, and friends have initiated the Joe Miller ’95 Memorial Scholarship. When funded, the scholarship will be awarded to a student who displays leadership qualities, academic achievement, and, above all, a great love of life.

Members of the Class of 1995 gathered video messages with favorite memories and words of encouragement for Joe before his passing. They gathered with his friends and family on August 28, 2021, to celebrate his life.

Derek McGarry ’95 shared, “Joe was a beacon of hope and strength for anyone who crossed his path. He worked hard and played hard, but he loved even harder. He inspired me and many of us here to become closer to friends and family. I think the biggest message I got from Joe over his last few years was that everyone matters… everyone needs love and support in hard times. Joe gave us a master class on how to live and love.”

The Joe Miller ’95 Memorial Scholarship is open to all supporters. Please contact Danielle Ferguson at 704-943-4544 or danielle.ferguson@charlottecountryday.org or visit charlottecountryday.org/support/scholarship to donate directly online.