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Donors Making a Difference
When Jason and Rena Pilalas think of their legacy, their impact on this world, they have countless experiences to reflect upon including two children, a grandson, a storied career in the investment management world, and support of countless non-profit institutions. Their greatest legacy for New Hampton School, however, may come decades from now, in the form of a student’s education made possible by a transformative estate gift that the family recently established here.
When Jason and Rena Pilalas think of their legacy, their impact on this world, they have countless experiences to reflect upon including two children, a grandson, a storied career in the investment management world, and support of countless non-profit institutions. Their greatest legacy for New Hampton School, however, may come decades from now, in the form of a student’s education made possible by a transformative estate gift that the family recently established here.
Together, Jason and Rena have pledged $7,200,000 to New Hampton School in their estate plans. An independent school’s endowment operates, in many ways, like a savings account or stock portfolio that individuals rely on for income both throughout their career and in retirement. With good planning and wise investment, the size of the portfolio grows, and each year the individual or institution harvests a small percentage of the fund. With careful planning endowments and retirement funds can grow substantially.
“Endowment is a lifeboat,” Jason says. “It is a pillar of the School’s financial strength.”
“The first task of the Trustees is to insure the survival of the institution,” says Jason. “The endowment is a true friend in good times, enabling the School to enrich its offerings. In bad times, it is an anchor to windward, providing much-needed relief in times of trouble. Today’s endowment makes a meaningful contribution to the budget, and we hope this gift will move the ball further in that direction. We also hope it will inspire others to do the same.”
Together, Jason and Rena have pledged $7,200,000 to New Hampton School in their estate plans. An independent school’s endowment operates, in many ways, like a savings account or stock portfolio that individuals rely on for income both throughout their career and in retirement. With good planning and wise investment, the size of the portfolio grows, and each year the individual or institution harvests a small percentage of the fund. With careful planning endowments and retirement funds can grow substantially.
With a long career in investment management, Jason was well-positioned to understand the importance of New Hampton School’s endowment.
“Endowment is a lifeboat,” Jason says. “It is a pillar of the School’s financial strength.”
Endowments can be used for scholarships, to fund faculty salaries, or to support specific programs. The Pilalas gift will generate unrestricted income for New Hampton School.
“The first task of the Trustees is to insure the survival of the institution,” says Jason. “The endowment is a true friend in good times, enabling the School to enrich its offerings. In bad times, it is an anchor to windward, providing much-needed relief in times of trouble. Today’s endowment makes a meaningful contribution to the budget, and we hope this gift will move the ball further in that direction. We also hope it will inspire others to do the same.”
Perhaps more than anything else, the Pilalas gift makes an emphatic point: that New Hampton School is a worthy investment in the future. The Pilalas family believes in the future of New Hampton School, the quality of the faculty and staff, and the capacity of our student body to go out into the world and make a difference and to have an impact. The Board agrees with this philosophy.
At New Hampton School, strengthening the endowment has been a central goal of the GO BEYOND campaign. The endowment is our silent partner in delivering a world-class education to our student body. Endowment gifts provide the School with reliable investment earnings in perpetuity to respond with stability and creativity to each year’s
needs. These gifts ensure the ability to provide the New Hampton School experience to future generations of students.
In its long history, it is only recently that the School has been able to grow a meaningful endowment.
“Endowment is the friend of the institution, indebtedness is the enemy, “ says Jason, who has been a tireless advocate of endowment growth since he joined the School’s Board in 1989.
Currently valued at $11,232,228, growth in the School’s endowment will diversify financial resources and build greater financial stability. In time, the Pilalas gift will nearly double the School’s existing endowment.
Going forward, four key areas in which the School will build endowed funding are: creating global citizens; faculty chairs; facilities endowment; and student scholarships.
While relatively modest in size, New Hampton School’s endowment has been carefully managed over many years. The School follows a conservative spending policy that builds upon the commitment of donors who have made gifts over many decades.
With this transformative gift to the School, Jason and Rena have helped to ensure a new era of growth and institutional strength. At the same time, the Pilalas family has secured its legacy as the School’s most generous and devoted supporters in the institution’s nearly 200-year history.
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