Endowment Update
2023 –2024
Summit School’s endowment, established in 1959, is a valuable, perpetual asset of the school. During the fiscal year ending June 30, 2024, Summit’s invested endowment generated returns in excess of 8.5%. While this was slightly below the 50% MSCI ACWI / 50% Barclay’s Agg benchmark return of 9.9% for the year, the endowment has outperformed the benchmark in the 5-year and 10-year time horizons. For the most recent year, the endowment increased in value by about $1,400,000 and ended the year valued at $17,125,000. Summit’s investment policy seeks to maintain or grow the value of the school’s investments even in difficult markets and with an embedded long-term capital preservation strategy.
Summit’s Investment Committee, chaired by board member and current parent Matt Petronzio and working with Cerity Partners OCIO, will continue to monitor investments among multiple asset classes and fund managers while ensuring that we are working within the boundaries set out by the Investment Policy Statement. Our goal is to assure the financial stability of Summit School both now and into the future, with an emphasis on preservation of assets, while reaching prudently for some growth, and being mindful of the ever-changing investment landscape. The board’s policy is to draw 5% of a three-year rolling average of the value of the endowment, on an annual basis, resulting in an annual draw of nearly $870,000 which supports Summit’s programming.
$ 17,125,000 ENDOWMENT as of 6/30/2024
Annual amount transferred to Summit School to support our students, faculty, and programs.
Named Endowment Funds
Each of the following funds supports the area under which it is listed. The year established follows the fund name. For full descriptions of each of the named endowment funds, please visit www.summitschool.com/funds.
FINANCIAL ASSISTANCE
Clara Allen Scholarship Fund - 1990
Jessica Marsha Wolfman ’94 Exchange Fund - 1994
Alumni Scholarship Fund - 1997
Head’s Discretionary Fund - 1997
Marian G. DeBell Fund - 2000
The Perkinson Family Travel Fund - 2000
Sara Courtney Bradshaw ’05 Fund - 2001
Donna Shores Diversity Fund - 2002
Summit School Faculty Development/Diversity Education Fund - 2011
Summit School Financial Aid Fund - 2011
The Triad Academy Financial Aid Endowment - 2012
Katherine V. Rachel Moyer ’00 Endowment Fund - 2013
Sylvia Holt Cebeci ’56 Memorial Fund - 2014
The Daniel Tran Foskett Hudgins ’15 Endowment Fund for Triad Academy at Summit School - 2022
John Pardue Diversity Scholarship Fund - 2023
John Seymour Scholarship Fund - 2023
GENERAL AND OPERATING SUPPORT
Summit School Endowment Fund - 1959
Joe Parrish, Jr. Sports Fund - 1985
Louise Futrell Fund - 1990
Kate Sandridge Sink ’53 Fund - 1995
Thomas A. Gray ’63 Endowment - 2008
FACULTY SUPPORT AND PROFESSIONAL DEVELOPMENT
Lewis Fund for Faculty Excellence - 1990
Lula Ditmore Sandlin Fund for Teaching Enrichment - 1990
Aurelia Plumly Spaugh Fund - 1992
Wilson Family Enrichment Fund - 1993
Albert L. Butler, Jr. and Elizabeth Bahnson Butler Endowment of the Lewis Fund for Faculty Excellence - 1997
Anne Hanes Willis ’36 Endowment of the Lewis Fund for Faculty Excellence - 1997
Elizabeth Fuller and Henry Lewis Valk Fund for Faculty Excellence - 1999
Marian Millaway Douglas ’69 Award for Faculty Excellence - 2001
Mary Lee Nelson LaFar Moore Endowment for Faculty Support - 2001
Endowment for the Ebeling Center for Excellence and Innovation in Teaching and Learning - 2014
In addition to the named funds held in the Summit endowment, Summit is a designated beneficiary of seven named funds held at The Winston-Salem Foundation:
Summit School Endowment Fund - 1959
Carr Family Fund - 2006
Summit School Opportunity Fund - 2006
Albert L. Butler, Jr. and Elizabeth Bahnson Butler Fund - 2011
Matthew Alan Gfeller ’08 Fund for Summit School - 2018
George W. Chandler, Jr. ’63 Fund - 2021
Edmund B. and Loma C. Hopkins Fund for Summit School - 2024
