NYC Private Schools rely much on their endowments to withstand unstable economies. Though many assume that the (for some) enormous tuition costs pay for the operating costs of the schools, the truth is that many schools offer increased financial aid that is funded out of endowments and does not cover a student’s costs. Endowments come from donations and other charitable giving benefits.
Cityfile.com recently reported on the Goldman Sachs charitable donations to numerous private schools in the city:
Goldman Sachs announced plans last week to donate $200 million to charity, a move designed to quell criticism over the firm’s massive profits (and the massive bonuses that will soon handed out to the bank’s employees). The donation isn’t a gigantic sum for the investment bank—Goldman makes $200 million every three days or so—but it’s a big step up from last year when the largest of the Goldman-affiliated foundations, the Goldman Sachs Charitable Fund, gave out about $10 million. So which non-profit groups stand to benefit the most from the firm’s increased largesse?
To see the 25 pages of institutions Goldman Sachs recently supported, check out the original document at Cityfile.com.
Here are the NYC Private Schools that were included on that list:
- Aaron School: $10,000 (Manhattan)
- Brick Church School: $10,000 (Manhattan)
- Browning School: $10,000 (Manhattan)
- Cathedral School of St. John the Divine: $1,000 (Manhattan)
- Chelsea Day School: $10,000 (Manhattan)
- Christ Church Day School: $50,000 (Manhattan)
- Dwight School: $10,000 (Manhattan)
- Ethical Culture Fieldston School: $10,000 (Manhattan/Bronx)
- Fordham Preparatory School: $25,000 (Bronx)
- Grace Church School: $40,000 (Manhattan)
- Friends Seminary: $36,500 (Manhattan)
- Horace Mann: $30,000 (Bronx)
- League School: $15,000 (Brooklyn)
- Little Red School House: $50,000 (Manhattan)
- Madison Avenue Presbyterian Day School: $8,000 (Manhattan)
- Marymount School of NY: $5,000 (Manhattan)
- Nightingale-Bamford: $4,000 (Manhattan)
- Park Avenue Christian Church Day School: $1,000 (Manhattan)
- Riverdale Country School: $5,000 (Bronx)
- St. David’s: $7,500 (Manhattan)
- Spence School: $15,000 (Manhattan)
- St. Jude Parochial Elementary School: $5,000 (Manhattan)
- St. Sylvester School: $5,000 (Brooklyn)
- The First Presbyterian Church Nursery School: $10,000 (Manhattan)
- Trevor Day: $15,000 (Manhattan)
- Trinity School: $9,250 (Manhattan)
Many schools rely on donations from alumni and current families in order to continue their tradition of education.