Each year, Woodberry’s alumni, parents, grandparents, faculty, and friends sustain the school’s efforts to prepare boys for their future by supplementing our operating budget through their support of the Amici Fund, our annual fund. Woodberry’s 2017-18 operating budget of $33.3 million is funded by tuition, endowment, and the Amici Fund.
What it costs to educate each student
The true cost to send a boy through Woodberry for a year is calculated at approximately $80,825. Our current tuition and room and board is $57,250. This means that even families who pay full tuition receive a subsidy of almost $23,575 annually toward their son’s education. Your gift to the Amici Fund allows the school to continue to provide a first-rate education for boys while keeping tuition increases under control.
Understanding the costs of a Woodberry education
Our highly dedicated faculty members play an integral role in contributing to each student’s Woodberry experience. They dedicate their lives to educating our boys and also serve as coaches, advisers, and mentors. A large portion of Woodberry’s budget goes toward paying and retaining these exceptional educators. However, there are other people who also contribute to Woodberry each and every day. The staff in our dining hall work hard to serve three meals a day, seven days a week; our custodial staff ensures that the dormitories are clean and safe. Our grounds crew keeps Woodberry in pristine condition. And Woodberry’s many sports teams — from Bengal to Varsity — require deeply committed coaches. We devote 60 percent of our annual budget to the salaries and benefits of our faculty and staff.
Woodberry draws from its endowment at the rate of five percent each year on its average balance over the previous twelve quarters. In doing so, we ensure that we spend appropriately on Woodberry today while also saving for the future. Our endowment is not a checking account from which we can withdraw at will.
How Woodberry funds its operating budget, and why it's important to support the Amici Fund
Currently, tuition accounts for just more than half of the operating budget. Income from Woodberry’s Endowment covers about one-third of operating costs. Each year there is a 11 percent gap between Woodberry’s operating budget and our finances to cover it. This gap is filled by the Amici Fund. Your gift to the Amici Fund contributes to the yearly operation of the school, and is an integral part of our success.
Why Woodberry does not make a larger draw from its endowment