Flint Hill School - Endowment Report 2021-2022

ENDOWMENT REPORT

IN PARTNERSHIP WITH GENEROUS DONORS, NEW ENDOWMENTS FURTHER SOLIDIFY FLINT HILL’S COMMITMENT TO STUDENTS

During the 2021-22 school year, two endowments were established to celebrate and honor important members of the Flint Hill community and benefit student financial aid now and for generations to come.

JOHN

M. THOMAS

ENDOWED SCHOLARSHIP

This new endowment was established in 2022 upon his retirement following 17 years of distinguished service as Headmaster of Flint Hill. It was created by the Trustees and families of Flint Hill to recognize Mr. Thomas’ extraordinary commitment to making a difference. This endowment supports financial aid to a deserving student. Mr. Thomas often said the two most important things parents can do for their children are to love them unconditionally and provide the best education possible. Preference is given to children of parents who lead lives in service to others, especially in professions whose remuneration may typically put an independent school education out of financial reach. For example, children of firefighters, nurses, law enforcement officers, military, public school teachers and mental health professionals.

“

I was stunned, surprised and at the same time, so pleased by the actual creation of the scholarship fund. And what truly was humbling, gratifying and exciting for me was to learn that so many people would step forward in such a generous and heartfelt way to help provide a path for more students and families to actually join our School Family and benefit from all that Flint Hill has to offer. What Flint Hill offers is a personal, meaningful and transformative school experience on so many levels. It is the way education was meant to be. The opportunity this fund and all the many other forms of financial aid offer, will change lives for the better as our graduates carry life skills with them forever. THANK YOU so much to everyone who has or whoever will participate in these efforts.

–John Thomas

ROTA LEE ENDOWED SCHOLARSHIP

Established in 2021 by Richard Young, parent of Angelica Young ’13, this endowment supports financial aid to a deserving student. It is in memory of Ms. Lee, who exemplified perseverance and determination. When faced with obstacles, she found ways past them. Preference is given to a student in grade 6 or higher whose life experience has also demonstrated the ability to overcome hurdles and show resilience. Inspired to make a difference in the lives of more students, the Young family also established the Rota Lee Memorial Endowed Prize. The endowment supports awarding an annual prize to a Middle or Upper School student during the end-ofschool ceremonies. It is also in memory of Ms. Lee. The prize will be awarded annually to a student who, during the previous year, has demonstrated their ability to overcome a personal or school challenge. We were thrilled Mr. Richard Young P’13 and his daughter, Angelica Young ’13 attended the 2022 Upper School Closing Ceremonies where the inaugural award was presented.

“

I created the Rota Lee scholarship and the Rota Lee Memorial Endowed Prize for two reasons: as a tribute to my late wife, Rota Lee, for her extraordinary perseverance, and as a recognition of incoming and current Flint Hill students for showing the same qualities. Because she believed that Flint Hill was the best school for our daughter Angelica, Rota persisted in trying to get Angelica admitted to the school and finally succeeded — after previous unsuccessful attempts. Although Rota could not have known it at the time, her persistence made possible the tremendous support that Flint Hill gave to my daughter and me after Rota herself passed away in 2011. The scholarship and award are intended as a reminder that perseverance in the face of adversity can, and does, pay off.

–Richard Young P’13

Meredith Cook VanDuyne 703.584.2351 mvanduyne@flinthill.org

DIRECTOR OF DEVELOPMENT

Leslie Hutchens 703.584.2424 lhutchens@flinthill.org

DIRECTOR OF ENGAGEMENT AND STEWARDSHIP

Tiffany Parry 703.584.2364 tparry@flinthill.org

OUR INVESTMENT APPROACH

The endowment is overseen by Flint Hill School’s Board of Trustees’ Investment Committee. The committee is guided by its Investment Policy Statement and advised by Wells Fargo Advisors. The committee monitors endowment performance and keeps the Board apprised. Additionally, the committee is responsible for reviewing and recommending adjustments to the Investment Policy Statement.

The Investment Committee aims to pursue a general policy that will diversify investments to provide a balanced approach that will enhance total return while avoiding undue risk concentration in any single asset class or investment category. The long-term investment objective of the endowment is to maximize investment returns without exposure to undue risk. It is understood that fluctuating rates of return are characteristic of the securities markets. The greatest concern is the preservation of capital and the need for long-term asset appreciation.

OUR SPENDING PHILOSOPHY

2021–22 ASSET ALLOCATION

To support the School’s long-term objectives, endowments maximize investment returns without exposure to undue risk.

Currently, the Investment Committee uses the following asset allocations when determining endowment investments:

Equities 55% Fixed Income 30% Cash & Equivalents 5% Non-traditional 10%

It is the current policy of the School to annually distribute an amount no greater than four percent of a three-year rolling average of the endowment’s total asset value as of July 31.

FLINT HILL SCHOOL ENDOWMENT

NEED-BASED SCHOLARSHIP/ FINANCIAL AID FUNDS

YEAR ESTABLISHED 7-31-22 MARKET VALUE FY 2021–22 DISTRIBUTION

Alloy Family Endowed Fund 2012 $264,989.81 $9,014.74

Carbonell Family Endowed Fund for Financial Aid 2012 $1,263,492.30 $42,983.01

Davis Family Endowed Minority Scholarship Fund 2000 $271,756.13 $9,244.93

Hunter Family Endowed Scholarship Fund 2007 $367,722.16 $12,509.62

Jasper P. Horne Jr. Endowed Memorial Scholarship 1993 $69,402.79 $2,361.03

John M. Thomas Endowed Scholarship 2022 $190,772.00 N/A

The Lindsay Family Scholarship Fund 2017 $64,150.24 $1,910.19

The Mary and Daniel Loughran Endowed Scholarship Fund 1997 $372,890.52 $12,345.25

Parents’ Association Endowment for Financial Aid in Honor of Sally Hazel 2012 $778,663.84 $24,934.20

Peter Brendsel Family Fund 2007 $276,350.64 $9,401.23

Rota Lee Endowed Scholarship 2021 $90,000 N/A

INSTRUCTIONAL & PROFESSIONAL DEVELOPMENT FUNDS

The Dunn Family Endowed Fund for the Advancement of Academic Excellence 1999 $89,174.23 $3,033.64

Faculty Summer Study and Enrichment Endowed Fund 2007 $157,617.52 $5,362.02

PRIZE AND AWARD FUNDS

Brody Endowed Memorial Fund 1993 $35,449.71 $1,205.97

Colonel Alan Ferguson-Warren Endowed Memorial Scholarship Fund 1993 $21,257.78 $723.17

Colonel Wilber M. Gaige Jr. Endowed Scholarship Fund 1997 $83,791.89 $2,850.53

Driving Spirit Faculty Awards 2006 $206,136.28 $7,012.59

Rota Lee Memorial Endowed Prize 2021 $10,000 N/A

SPECIAL USE FUNDS

Anne Hazel Endowed Lecture Series Fund 2001 $53,102.21 $1,806.50

The Stephen Case Foundation Endowed Fund for Technology 1998 $83,750.01 $2,849.11

William A. Hazel Family Learning Center Endowment 1999 $414.626.82 $14,105.28

GENERAL ENDOWMENT FUNDS

General Endowment Fund 2006 $562,694.98 $19,142.44

John T. Hazel Jr. Leadership Endowed Fund 2012 $41,874.98 $1,424.55

Total 2021–22 $5,769,666.84 $184,220.00