Academic institutions need an endowment to succeed and excel for centuries, as Andover has. Especially during difficult economic times an endowment provides the opportunity for innovation. Income from the Academy’s endowment supports 37 percent of the annual operating budget.
As of June 2014, Andover’s endowment topped $1 billion for the first time. Although the endowment may seem “large” in absolute terms, the Academy also has a relatively large student population—1,100 students—in contrast to a nationwide average boarding-school enrollment of 297 students. Therefore Andover has fewer endowment dollars per student than many of its peer schools. This is complicated by the fact that Andover is located in a relatively high-cost metropolitan area and maintains a relatively large campus and physical plant. In effect, Andover’s endowment needs to work harder than many others—and does.
For information about making a gift to the endowment, please contact Nicole Cherubini at email@example.com.