IT STARTS WITH ONE: The Story of the First Endowed Gift to Flint Hill
In 1993, Patricia Dresser’s gift of Philip Morris stock was the first gift to establish the Flint Hill School Endowment. Today, the Endowment stands over $7 million.
PATRICIA DRESSER first came to Flint Hill as a parent to then-Upper Schooler Elizabeth, in 1990. Immediately, she became an active member of the Parents’ Association and immersed herself in the community. Even after Elizabeth’s graduation, Patricia continued to serve as an admission volunteer helping new families find a place where their children can thrive.
Seeing the progress the school has made since her time as a Flint Hill parent brings her immense satisfaction. “The school looks wonderful. All that we hoped for in 1990 has happened!” she says.
Education has always held a special place in Patricia’s heart. “I taught school until I had children,” she reflects, “and then I stopped to raise them.” While her career as a teacher paused, her involvement in education never ceased. She volunteered at every school her children attended, embracing roles ranging from organizing galas to chairing committees. “Once I got to Flint Hill, I just did what I always do. I helped,” she says modestly.
Her father’s passing in 1989 spurred Patricia to create something lasting in his memory. In 1993, with a block of Philip Morris stock, Patricia made a gift to establish an endowed prize to honor her late father, Mr. Jasper P. Horne Jr. It was this gift that established Flint Hill’s endowment.
Jasper P. Horne Jr. grew up in southern Virginia on a tobacco farm and came of college age during
the Depression. He was a scholar and gifted athlete, winning the state championship as a runner. Even with the academic and athletic scholarships offered by the College of William and Mary and the University of Richmond, he could not afford to enroll in college. Mr. Horne took a job with Philip Morris instead. Over the next 45 years, he worked his way up to the position of Senior Plant Manager, managing to take some college courses when he could. Ultimately, completing his degree proved too challenging — especially with a family to care for and a full-time job — but Patricia deeply admired her father’s unwavering commitment to pursuing his education.
In her letter to Headmaster Tom Whitworth in 1992, Patricia wrote, “I am deeply grateful to the staff and faculty and especially Ed Ward for the role they have played in the education of my family. I wish to give this gift in memory of my father, Jasper P. Horne Jr., a man to whom education was always important. During his lifetime he gave generously in quiet ways to meet needs that he saw around him, especially for children.”
The Jasper P. Horne Memorial Scholarship was established to both honor Patricia’s father and to help support aspiring college students. The scholarship is awarded annually to a Flint Hill junior who embodies exemplary qualities of the scholar/ athlete, which Mr. Horne valued and demonstrated in his own life.
Like her father, Patricia sees athletics as a vital component of a well-rounded education. “There’s teamwork, solving problems, and handling conflict,” she explains. “Two kids want the same position on the team, but one gets it, and the other has to learn to work with the team anyway.” She believes these are crucial life lessons. Yet, Patricia emphasizes that every child must explore their own path, whether it be in sports or creative expression. “They just have to explore and maybe find out there’s some talent they didn’t realize they had.”
There have been more than 30 recipients of the scholarship since 1993. Patricia fondly recalls the gratitude of students who benefitted from her support. “They have written me lovely thank you notes. One multi-sport athlete mentioned that he had never played football before but tried it and found out he was good at it. This is what it’s all about!”
Patricia hopes that her example will inspire others to give back, no matter how small the gesture. “The gift of generosity — if you share what you have, even something small — it makes a difference,” she concludes, her words embodying the legacy she has built, one act of kindness at a time.
The school looks wonderful. All that we hoped for in 1990 has happened!
–Patricia Dresser
Endowment Gifts Impact The Flint Hill Experience
THE ENDOWMENT comprises 23 funds, which support various programs at Flint Hill. These critical investments benefit the school’s long-term financial health and create a dynamic and enriching environment for students and faculty to advance their academic, athletic, and artistic interests and expertise.
The Flint HiIl endowment has dedicated funds to support:
• Need-based financial aid
• Advanced Academic Excellence
• Faculty Growth and Enrichment
• The Learning Center
• The General Endowment, providing unrestricted support to the School
• Visiting Scholars and Lecture Series
• Technology
• Annual student prizes for:
• Excellence in Music
• Excellence in English
• Excellence in history and citizenship
• Perseverance and overcoming obstacles
• Scholar Athletes
• The Driving Spirit Faculty Awards
Wondering how you can support these endowment funds or create your own legacy at Flint Hill? Please contact:
ASSISTANT HEAD OF SCHOOL FOR INSTITUTIONAL ADVANCEMENT
Meredith Cook VanDuyne 703.584.2351
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
2023–24 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:
55%
It is the current policy of the School to annually distribute an amount no greater than three percent of a three-year rolling average of the endowment’s total asset value as of July 31.
FLINT HILL SCHOOL ENDOWMENT
