Growing the Financial Aid Endowment
Throughout our history, New City’s commitment to socio-economic diversity has been a hallmark of our school. Given the current financial and demographic climate in the greater St. Louis region, we continue to experience, year over year, an increasing demand from qualified, prospective families for financial aid and we have not consistently been able to meet that need. Our Board of Trustees understands the challenges of affordability which is why we are so proud of our variable tuition program, which affirms our belief that a family’s financial commitment to education should be in equitable proportion to its financial resources.
The Financial Aid Endowment has grown significantly since its inception in 1997. Tuition continues to grow, as does the number of families requesting variable tuition. Currently 45% of our students receive variable tuition. Endowment growth will support our commitment to diversity by providing access to as many students and their families who wish to be a part of this vibrant community.
To date, through the 50th Anniversary Campaign, over $3.5 million has been raised for the Financial Aid Endowment. As of October 31, 2020 the value of the Endowment was $8.76 million. By 2024 it is our hope that the Endowment is nearly $12 million, which would make approximately $600,000 in Variable Tuition available annually to support socio-economic diversity at New City School. This is a sign of strength for our school and a sign of commitment to our mission – there is no other elementary school in the St. Louis region, and not even in the Midwest, who can claim such a strong financial commitment to diversity.