ENDOWMENT Seattle Academy’s Endowment consists of a set of funds conservatively invested over the long term to provide reliable investment income that lasts in perpetuity. Endowments are considered a hallmark of financial sustainability, and we are pleased to report that the total value of the SAAS Endowment stands at $24,893,246 as of June 30, 2021. To ensure long-term sustainability, the Board of Trustees has adopted an endowment spending policy of between 2% and 5% of total net assets on a 12-quarter, rolling average market value, ending June 30. This year, Seattle Academy drew $635,000 of endowment investment income to supplement our annual budget. Seattle Academy’s endowed funds support our commitment to equity and inclusion. Our community brings together a broad range of perspectives, talents, and learning styles that inform and enrich the experience of every student. Through the generosity of our donors, SAAS has endowed funds for Financial Aid, Learning Support, the Outdoor and Travel Program, Speech and Debate, and Vocal Music. We are grateful to the following donors who contributed to the endowment between July 1, 2020 and June 30, 2021.
ENDOWMENT ASSETS BY FUND TOTAL ENDOWMENT VALUE AS OF JUNE 30
FY20 $19,672,819 FY21 $24,893,246
General Endowment for Financial Aid Financial Aid Endowment Wilson Endowment Voyageurs Endowment Jeremy Houk Endowment Wanda Elder Endowment Bianco Family Endowment Dunnam Family Endowment Lorenzini Family Endowment Luke Rogers Endowment Reid Rogers Endowment
2020-21 ENDOWMENT DONORS Reid Rogers Endowment Fund Jeff and Stacie Feinstein Phil and Star Fleckman Steve and Karen Kulin Carol Meachum and Kim Walter Jim Rogers and Pam Kulin Susan and Chris Valauri Bryan and Christin White Bonnie Witrak Financial Aid Endowment Fund Tom and Katharine Barton Michael and Melanie Crowson in honor of Estella Crowson ’21 Nik Joshi and Meredith Fane in honor of Anika Joshi ’21 Kamila and Patrick Kennedy in honor of Luca Kennedy ’21 Pamela Lopez in honor of Max Perret ’21 Doug MacBain and Kristin Wennberg in honor of Kjellen MacBain ’21 Ron and Linda Reibman In honor of Barak Reibman ’21 Steven Sarkowsky and Stacy Lawson in honor of Noah Sarkowsky ’17 and Shiah Sarkowsky ’21 Jeff Sprung and Vicky Beer in honor of Levi Sprung ’21 Connie Stacey in honor of Lucy VanNewkirk ’21
FY20
FY21
$4,332,558.00 $9,399,284.00 $430,448.00 $3,904,135.00 $241,374.00 $424,719.00 $100,680.00 $405,731.00 $200,522.00 $56,106.00 $177,227.00
$5,479,282.23 $11,897,579.30 $544,368.23 $4,937,451.91 $305,249.50 $537,137.56 $127,327.66 $513,111.64 $253,566.42 $70,967.03 $227,204.70
$104,636.46 $423,166.56 $129,500.00 $446,695.15 $583,600
$809,300.82 $4,598,473.11 $13,668.00 $435,624.18 $635,000
ENDOWMENT GROWTH Realized Gains Unrealized Gains Contributions Investment Income and Dividends Endowment Expenditure
20
SAAS 2020-2021 ANNUAL REPORT
