NMH 2023 Financial Highlights
A Message from the Chairs of the Board of Trustees and of the Investment Committee
Fiscal 2023 was a remarkable year. The generosity of our alumni, families, and other philanthropic partners resulted in more than $19 million in new gift commitments. Once again, fundraising for the NMH Fund exceeded $5 million. This has allowed us to award more than $12 million in financial aid, ensuring student access and opportunity.
The NMH Board of Trustees is committed to stewarding the school’s resources responsibly. We strive to be transparent about the school’s finances and the ways in which philanthropic support enables increases in financial aid, campus improvements, and the ability to attract and retain exceptional faculty and staff — priorities from our strategic framework and This Place, This Moment: The Campaign for Northfield Mount Hermon.
While the NMH endowment has served the school well during the last quarter-century, the administration and the board are closely focused on raising the aspirations and expectations of our investment portfolio management. Like many private secondary schools, Northfield Mount Hermon uses an outsourced chief investment officer that specializes in advising nonprofit institutions like ours: Crewcial Partners LLC.
Over the past several years, the Investment Committee of the board has changed the balance between non trustee investment professionals and trustees serving on the committee. The quality of professional experience and judgment on the committee has dramatically increased, and the talent pipeline for future committee membership has improved. As a result, the committee has been able to provide unprecedented oversight of and partnership with Crewcial, which has significantly improved the performance of the portfolio relative to the 40 Association of Business Officers of Preparatory Schools (ABOPS). For fiscal 2023, we were among the top five schools for rate of return.
The committee is also collaborating as never before with school administration and the board’s Finance and Advancement committees to achieve alignment of strategic objectives and to ensure appropriate portfolio performance across a range of foreseeable economic environments. As the school raises its sights with This Place, This Moment, the Investment Committee has set top-quartile returns relative to the other ABOPS as its long-term goal.
It is a privilege to share this information with you regarding the meaningful impact you’ve made at NMH. We appreciate your continued commitment to our cherished school and its present and prospective achievements.
Sincerely,
Mariah Draper Calagione ’89 P’18 ’20, Board Chair
Stephen Gauster ’88, Investment Committee Chair$19,019,997
3,570
Total Raised
Total Donors
10 New Endowment Funds $100,000 minimum commitment
17 New Documented Planned Gifts
21 Percent of Total Budget from Philanthropic Sources (NMH Fund and Endowment)
Office of Advancement
413-498-3600
nmhgiving@nmhschool.org
FY23 Expenses
• COMPENSATION
• ACAD, STUDENT, ADMIN SUPPORT
• OPERATIONS
• DEBT
• MISCELLANEOUS
• CAPITAL
• FINANCIAL AID
FY23 Revenue
• TUITION
• FEES
• ANNUAL FUND
• ENDOWMENT
• MISCELLANEOUS
These pre-finalized audit figures reflect our FY23 operational expenses and revenue.