Scholarship and Faculty Support Drive Surpasses $20 Million Goal

The Academy’s first dedicated endowment initiative concluded earlier this year with more than $23,570,000 in commitments—$3.57 million more than the goal of $20 million. The Inspire & Invest Initiative, co-chaired by Trustees Jim C. Cowart ’69 of Laguna Niguel, Calif., and Patrick Corsiglia P’15, ’17, ’20 of Lake Forest, was launched to secure new endowed scholarships, endowed faculty chairs and faculty professional development funds and general endowment.

“This campaign was at the very core of what LFA stands for—our mission,” said Head of School Chris Tennyson

“Our alumni, parents, alumni parents and friends stepped up to invest in our students and faculty to provide them the necessary resources success in an increasingly complex world. I am very grateful to our volunteer leaders as well as my predecessors, Dr. John Strudwick P’13, ’15, ’18 and José M. De Jesús P’22, who worked tireless to tell the LFA story to our prospective donors.”

The Inspire & Invest Initiative began in 2018 in response to the Board of Trustees’ challenge to increase its permanent endowment above $50 million for enhanced fiscal stability. The Board identified the objectives of sustaining and growing the Academy’s efforts to provide deserving students access to scholarship opportunities in addition to attracting and retaining world-class faculty. At the close of the Inspire & Invest Initiative in March, the Academy’s endowment market value was approximately $57,682,000, up substantially from the market value of $11 million in 2001.

The results of the Inspire & Invest Initiative yielded remarkable success for the objectives, which will directly impact the Academy’s students and faculty.

Achievements include the addition of 52 new need-based endowed scholarships, 15 new endowed faculty professional development funds and three new endowed faculty chairs.

“I am extremely proud of the entire Caxy community, and I want to extend my congratulations and gratitude to the people who made this goal a reality,” said Strudwick, Head of School from 2001 – 2019, who helped launch the Initiative with the support of Trustees Cowart and Corsiglia as well as Co-Vice Chairs (Trustee) Allan Kaplan ’72, P’03 and (Life Trustee) Loretta Kalnow Kaplan ’73, P’03 of Northfield, Ill.

Matching and challenge funds from five families totaled $1.8 million, inspiring donors to participate. “The matching and challenge aspects of the Initiative inspired some of the largest lifetime gifts to the school from the Academy’s alumni and parents,” said Dr. Robert J. Buckla, vice president of advancement. “In addition, this Initiative was successful due to foundational giving from the classes of 2000 – 2010, who give us much enthusiasm for the school’s continued philanthropic potential. Many of these Caxys made their largest gift commitments in their history, often with five-year pledge payments.”

Inspire & Invest Initiative matching and challenge benefactors included Cowart and his wife, Janet; Laura and Gregg George P’21, ’23; former Trustee Gregory Glass P’18, ’21; Life Trustee Catherine and Frederick Waddell P’01, ’03 and the Waddell Family (Frederick ’01 and Caroline Waddell and Charlie ’03 and Casey Kennedy Waddell ’08); and an Anonymous donor.

One of the highlights of the Initiative was the establishment of the Next Generation Endowed Scholarship by a group of young alumni. The Next Generation Committee was co-chaired by Trustee Molly Pearson Campbell ’04 of Miami Beach, Fla., and Charlie Waddell ’03 of Kenilworth, Ill.

More than 40 alumni, alumni parents, and trustees served as volunteers for this endowment campaign. One hundred percent of LFA trustees contributed to the Initiative.

“This Initiative was so important for the institution and was introduced and realized by people who truly believe in the mission of Lake Forest Academy,” said Cowart. “A number of committed volunteers contributed many hours and resources to achieve the Initiative’s goals. As co-chair of the Inspire & Invest Initiative, I wish to thank everyone who participated in this campaign. I would also like to thank the Academy’s Advancement team for their countless hours organizing such a successful Initiative to advance LFA.”

Added Corsiglia, “I congratulate the LFA community on this important and lasting accomplishment. In particular, I want to thank the many volunteers and LFA’s Advancement team for their hard work and dedication in surpassing the Initiative’s goal. Eclipsing $57 million in our endowment fund will prove to be transformational for the Academy.”

While the Initiative has concluded, the school is continuing to seek philanthropic support for scholarships and faculty retention funds. To discuss scholarships or faculty support, contact the Advancement Office at advancement@ lfanet.org or 847-615-3275.