On March 9, 1993, the Graland Country Day School Board of Trustees created the Graland Country Day School Foundation (the “Graland Foundation”). A separately incorporated organization, the GralandFoundation was designed to ensure Graland’s future through financial stewardship of the school’s endowment.
Begun with the school’s investment of $7.4 million, contributions and earnings over the past 25 years have brought the current value of Graland’s endowment to approximately $41 million. During this same time frame, $22.7 million in earnings from the endowment were distributed back to Graland.
Endowment distributions are a critical part of Graland’s financial model. Coupled with the annual fund, these annual distributions cover 12 percent of the school’s operating costs, which complement tuition revenue and allow tuition levels to be set thoughtfully, in an effort to uphold the school’s commitment to socio-economic diversity. Josh Cobb, Head of School, shared his thoughts with me as well: “The true benefit of the endowment is that it gives us the flexibility and resources to provide excellent teaching, impactful programming, and beautiful and highly functional facilities. It is a true financial differentiator that maintains our competitive advantage and our commitment to excellence.”
Today, the Graland Country Day School Foundation Board consists of four permanent trustees and two who rotate from the Graland Country Day School board during their termed service. Led by Marshall Wallach, President, the current Graland Foundation board was pleased to recently celebrate the 25th anniversary of the Foundation through special events and a commemorative financial report to be distributed later this fall. The Graland Foundation Board is committed to continued communication, transparency and partnership with Graland and its school community.
In its 25-year history, the Graland Foundation has soundly invested gifts made by more than 1,000 donors. In order to further the endowment’s impact each year, the Graland Foundation structures its investment strategy with dual goals: to both grow the principal of the gifts and to generate income for the school. Having surpassed the $40 million milestone in its 25th year is a substantial accomplishment; it reflects the historic philanthropic generosity of Graland’s community, the financial stability of the school and sound fiscal oversight by the Graland Foundation. Graland is grateful for the Graland Country School Foundation and its stewardship of these cherished gifts to the school.
Jessica earned a bachelor’s degree in history from Princeton University where she also specialized in Germanic studies. Prior to joining the Graland team in 2016, Jessica served as director of advancement at another independent school in New Jersey. She also worked at Princeton for seven years in the development office.