Safeguarding Newark Academy's Future
Our endowment is an accumulated fund prudently invested to support the long-term sustainability of Newark Academy. Newark Academy has an unrestricted general endowment fund as well as restricted endowment funds for specific purposes which have been designated by the donors. Funds for a restricted endowment are established via a written gift agreement which states clearly what is expected from the donor and Newark Academy. Restricted endowment funds must be fully funded before distributions can be made.
Increasing Scholarship Endowment
Increasing Scholarship Endowment
Through generous support and careful management of investments, the Newark Academy endowment has grown to more than $50 million. While the rate of growth has been impressive, it cannot keep pace with the increasing tuition costs and requests for financial assistance from the families of highly-qualified students. In order to meet this need, NA is prioritizing the growth of the endowment. Gifts for scholarship endowment may be directed to:
- the general scholarship endowment;
- an existing endowed scholarship program, such as the Newark Scholars program; or
- the creation of new fully endowed, named scholarship fund.
Keeping NA Accessible and Affordable
Gifts to Newark Academy’s endowed scholarships and to the general endowment are crucial if the school is to remain accessible for the widest and most diverse range of students. Currently, there are 25 scholarship funds, including 13 funds that provide at least one full scholarship to a deserving student each year.
- Matthew C. Baumeister Memorial Scholarship Fund
- Alex Bloom Scholarship Fund
- Charles Edward Bloom ’42 Fund
- Joseph Borlo Scholarship Fund
- Green Family Scholarship Fund
- Robert J. Hendrickson Scholarship Fund
- Kilcullen Family Endowed Scholarship Fund
- John Kim Memorial Scholarship Fund
- Kindle A Spark Scholarship Fund
- Kruvant Family Scholarship Fund
- Lomker Family Scholarship Fund
- Lustig Family Scholarship Fund
- Malone Family Foundation Endowment Fund
- Newark Academy Parents Association Fund
- Newark Scholars Endowed Fund
- Betty Newman Scholarship Fund
- Pavlo Levkiv Memorial Fund
- Claire Driver Redmond Scholarship Fund
- Elizabeth P. Riegelman Scholarship Fund
- Silverman Family Scholarship Fund
- William E. Simon ’46 Scholarship Fund
- Annette Tomaino Endowed Scholarship Fund
- Willian Family Scholarship Fund
- Dr. Bruce I. and Ilene P. Jacobs Endowed Scholarship Fund
- The Blackie & Joan Parlin Scholarship
The Fund for Innovations in Teaching and Learning
One of the strengths of Newark Academy is its history and tradition of educational innovation. Thanks to more than 250 years of experience, NA educators have the confidence to avoid passing trends and the courage to change and grow with the changing needs of our students and the world around them. In order to ensure that our faculty are encouraged to, and capable of, continuing to keep NA on the forefront of secondary private school education, the Board of Trustees created a new endowment fund for Innovations in Teaching and Learning.
The fund will provide current NA faculty members with grants to reimagine classroom education, moving beyond content mastery alone, to focus on the essential skills that every student will need to take his or her place in the 21st century.
To learn more or to discuss how you might support any one of these initiatives, please contact Chief Advancement Officer Rose McSween at rmcsween@newarka.edu or by calling 973-992-7000, ext. 303.