SAB’s endowment provides crucial support for all aspects of our training, each year contributing more than a quarter of the annual budget thanks to generous and forward-thinking donors who have made gifts to ensure the School’s ongoing financial stability.
All gifts to the endowment are invested, and the School draws down funds every year to help meet annual expenses. This means that any contribution to the endowment provides support for SAB in perpetuity. Gifts may be designated for any number of specific purposes – student scholarships, faculty salaries, Student Life programs, etc. – or given simply to support overall expenses. Naming opportunities are also available for gifts of $100,000 or more.
The School manages endowment funds in adherence to the guidelines established in the New York Prudent Management of Institutional Funds Act, with the goal of maintaining and growing the Fund while ensuring that the School’s mission and organizational priorities are financially supported. Following these guidelines, SAB calculates a 5% draw based on a twenty-quarter rolling average.
The School is required by law to include the following disclosure statement in all endowment correspondence: Unless otherwise restricted by the gift instrument pursuant to section 553 (b) of the Not-for-Profit Corporation Law, the School of American Ballet, Inc., may expend so much of an endowment Fund as it deems prudent after considering the factors set forth in section 553 (a) of the Not-for-Profit Corporation Law (see Executive Law § 174-b ).
For more information about contributing to SAB’s endowment, please contact Kristen Barrett, Director of Development, 212-769-6615 or firstname.lastname@example.org.