January 24, 2025
Endowment experts convene in New York
Andover’s 10th conference promotes open financial dialogueMore than 120 Andover alumni, parents, and friends attended Phillips Academy’s 10th Future of the Endowment Conference on January 7. Held at the Harvard Club in New York, the triannual symposium brings together the school’s financial and investment brain trust and leading minds from the private sector to discuss performance of this critical resource and wider market trends.
“Andover strives to wisely and ethically grow its endowment over the long term,” said Amy C. Falls ’82, P’19, ’21, president of the Board of Trustees. “We are strategic and comprehensive in this approach, and we wish to be transparent as well. This year we reintroduced a Phillips Academy Annual Report for the first time in decades, and our endowment conference remains integral to this effort, too.”
Built over generations through philanthropy and investment, the Andover endowment stands at approximately $1.4 billion. This endowment provides stability in economic downturns and enables the school to offer a dynamic educational experience to all students, making possible the Academy’s commitment to need-blind admission, new and upgraded facilities, and overall excellence in teaching and learning.
Falls and Head of School Raynard S. Kington, MD, PhD, P’24, ’27, opened the conference, followed by an overview of the school’s endowment and budget by Charter Trustee David J. Corkins ’84, P’25; Fernando R. Alonso, assistant head of school for operations & finance, chief financial officer; and Kirsten Glantz, chief investment officer.
The conference continued with an investor roundtable spearheaded by Charter Trustee and Investment Committee Chair Gil Caffray ’71, P’20, and concluded with a conversation on the fiscal road ahead, led by Falls and Michael A. Peterson ’87, P’18, chairman and CEO, Peter G. Peterson Foundation, and CEO, Peterson Management, LLC.
Those participating in the sessions were among the nation’s vanguard in the venture capital, financial services, real estate, and investment management fields.
“The success of this conference, and the ongoing success story of our endowment, would not be achievable without the dedication of our extraordinary community. Your generosity, advocacy, and vision inspire us every day,” said Kington.
“As we celebrate the opportunities the endowment provides, we must also recognize our responsibility to manage it with care. Stewardship is about balancing today’s needs with tomorrow’s possibilities. By doing so, we ensure Andover remains not only a leader in education today, but a beacon for generations to come.”
Categories: Philanthropy
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