2023-2024
Report of Giving
Thank you for helping students like me achieve greater things than we could have EVER IMAGINED!”
Thanks to our Generous Donors
Total Giving & First Time Donors
As we continue to raise the bar for excellence in teaching and learning, we offer our abundant thanks to those who have raised the bar for philanthropy at Peddie. The […]
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Alumni Giving
Consistent alumni giving is the single most influential factor in any leading educational institution’s long-term success; increasing alumni giving directly impacts Peddie’s ability to deliver a high-quality experience for Peddie […]
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Parents of Alumni
We are grateful to our passionate parents of both current students and alumni who strengthen our school community. Through their philanthropic support, parents sustain and enliven the student experience while […]
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Volunteers
We gratefully recognize our volunteers who share their talents with our students and the school community. So much of our progress, growth and success is due to the alumni, parents, […]
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Restricted Giving and Gifts in Kind
Restricted gifts are discussed in partnership with the donor and the school to provide funding for specific needs. This enables generous parents, alumni and friends to contribute to an agreed-upon […]
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The Bell Society
The Bell Society honors 343 past, present and future donors who have crafted planned gifts, including bequest intentions, beneficiary designations, charitable gift annuities and charitable trusts, among others, that energize […]
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PLANNED GIFTS
Planned gifts through wills, estates, retirement funds, charitable gift annuities, charitable trusts or real estate transfers offer a personalized opportunity to create a legacy that supports future generations of Peddie […]
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Current Parent Giving by Class
We are grateful to our passionate parents of both current students and alumni who strengthen our school community. Through their philanthropic support, parents sustain and enliven the student experience while […]
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Loyal Donors
We are grateful to our loyal donors who strengthen our school community through their philanthropic support. Through their dedication and commitment, loyal donors sustain and enrich the student experience while […]
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Endowment and Capital Giving
Gifts to Peddie’s endowment provide a permanent source of income for priorities that are essential to the school and not covered by tuition. All capital projects are funded by philanthropy […]
ReadThe Peddie Fund
We are Grateful to Our Peddie Fund Donors
A RECORD-BREAKING YEAR FOR THE PEDDIE FUND!
$2.6 million raised in 2023-2024
Thank you for helping us to accelerate our progress toward building a stronger version of Peddie and keeping Peddie steady in the years ahead.
5% OF REVENUE
The Peddie Fund supports 5% of our expenses.
Most of our peer schools have annual funds that fund 10% of their expenses. A stronger Peddie Fund will accelerate our progress toward building a stronger version of Peddie and enhance our ability to meet immediate needs without drawing extensively on the endowment. Every gift makes a difference!
INCREASED GIVING = INCREASED IMPACT
Right now, Peddie is working to provide a more competitive athletic program, access to the Signature Experience, support for off-campus trips and support for Robotics – all of which are not fully funded by the endowment and rely on increased support from The Peddie Fund each year. Your gifts to The Peddie Fund support increased staffing costs, travel opportunities and much-needed equipment. In the near future, we will likely have athletic field projects, dorm renovations and more.
The Peddie Fund 2023-2024 Highlights
89
New Donors to The Peddie Fund. Thank you!
72
Active Peddie Fund Pledges. Thank you for your commitment!
76%
of Peddie Fund donors chose to support the school's greatest needs.
2,015
gifts under $100 = $81,048. Every gift counts!
$1,670
Average gift per donor
903
Donors gave 3+ consecutive years. Thank you loyal donors!
165
donors with recurring gifts set to automatically donate each year.
Top 5
classes with highest number of donors: 1999, 2012, 2000, 2010 and 2007.
Peddie Fund Participation
1,573
total donors in FY24
100%
Board of Trustees
13%
Alumni
48%
Current Parents
The Peddie Fund is the school’s most ambitious annual fundraising effort and the top philanthropic priority. Gifts to The Peddie Fund support all aspects of the robust Peddie experience that are not funded through endowments or covered by tuition and fees. These unrestricted, current-use gifts are spent annually and allow the school to be nimble and responsive to immediate needs without diminishing the strength of the endowment.
Increased participation, recurring gifts of every size and stretch commitments at every gift level from all members of the Peddie community are essential for us to fuel our dreams for Peddie and remain competitive among our peers. They are also a powerful vote of confidence, illustrating your trust in our ability to give students an experience of excitement and discovery. Thanks to your support, in the financial year 2024, we raised $2.6 million for The Peddie Fund.
If you would like to help lead the way by making a multi-year pledge or learn more about
The Peddie Fund, please contact Katie Grant, director of engagement and The Peddie Fund,
at (609) 944-7629 or kgrant@peddie.org.
A Shared Love
Sean N. & Cindy P. Woodroffe P’19 and their son Nigel P. Woodroffe ’19 share a love of Peddie. With great appreciation for the impact of lifelong […]
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Doubly Grateful
Peter W. ’06 & Brittany J. Henderson ’06 are grateful to Peddie for many reasons, none more obvious than the family they have […]
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In Honor of the Teachers
While at Peddie, I was really challenged to reflect on my core beliefs, embrace change and be empowered to find my path. Peddie reinforced shared […]
ReadImpact Stories
What I Wish For
When I first came to Peddie, we had a meager annual fund compared to our peers, and it was supported by only a small […]
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The World is My Classroom
This past summer, thanks to The Henry Christensen Jr. Faculty Scholar Fund, Science Teacher Nika Blank ’16 embarked on an eight-day backpacking expedition in Alaska that she […]
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Finding My Future
When Samantha Forte ’27 came to Peddie, she immediately knew it was the right place for her. “Now that I’m at Peddie, I really can’t imagine myself […]
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A Diversified Portfolio
Since graduating from Peddie, Kevin Marrazzo ’74 & Bunky R. Runser ’74 have not only remained committed to each other but also […]
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Comfort Zone
Connor Pawliczak ’25 is grateful to donors for helping to provide all students with a wide range of opportunities to explore their passions at Peddie. And over […]
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A Message from Peddie's Head of School and Assistant Head for Development
Your generosity is changing trajectories for students and transforming what’s possible at Peddie.
This fall, the most obvious transformation is the addition of the extraordinary Zhao and Li Family Fitness and Exercise Center housing the outstanding 8,710-square-foot Michael L. Li ’17 Sports Performance Training Center, the multi-room rowing facility, the golf training rooms and the community fitness center – all of which have already been used by hundreds of students daily!
This, like many other developments, was imagined, planned and brought to life by our remarkable faculty and staff (often with donor help), and paid for through generous gifts which have enabled us to become more capable of supporting our students in their efforts to accept the challenge of Peddie: to finish [their] labors and begin anew. And their success has made Peddie a better version of itself than would otherwise have been possible.
Over the last three decades, the endowment has been our largest source of funding beyond tuition, and it has grown from $11M to over $450M today, thanks to many of you. Simultaneously, total giving to The Peddie Fund has increased from $527,838 in 1993 to $2.6M this past fiscal year. But The Peddie Fund only supports 5% of the operating budget compared to 10% at peer schools. As we look ahead, in this competitive landscape, there is no question endowment, capital and current-use (Peddie Fund) gifts from all of us will be essential to shape future possibilities and keep Peddie steady.
This year, through our important transition of leadership, let’s keep advancing Peddie and set our future leadership up for success with an even stronger culture of philanthropy and engagement. Your continued generosity and partnership will be essential if we want to be nimble and responsive.
With abundant enthusiasm and gratitude for your continued partnership and support,
Peter A. Quinn P'15 '18 '21
Head of School
Karyn B. Vella P'21 '24
Assistant Head for Development
The Financial Picture: An Overview
Since the successful culmination of the One Peddie campaign, the steadfast financial support we have seen over this past year is a testament to our growth as a philanthropic community. The endowment and The Peddie Fund continue to have a transformative impact on the support Peddie is able to provide current and future students, as well as faculty and staff.
During fiscal year 2023-24, Peddie continued to maintain its financial stability through a careful deployment of our resources towards initiatives that benefit the living and learning experience for our students. The year presented continued challenges around food inflation, uncertainties in financial markets, and a rapidly growing demand for financial assistance. In response, Peddie refined its spending focus by establishing stronger mechanisms to control cost, while ensuring our long-standing commitment to access. Our planning was guided by a diligent adherence to a Board-approved long-term financial plan, which is tested from time to time against adverse macroeconomic factors to reaffirm the school’s financial viability. The importance of philanthropy to Peddie’s success cannot be overstated. Between July 1, 2023, and June 30, 2024, Peddie secured gifts of $8,246,881. Of this, $2,626,900 was directed to The Peddie Fund for current-use, unrestricted support, and $5,619,981 was directed to a variety of endowed funds and capital funds.
Thanks to the generosity of past donors, endowment distributions this year made up a major source of operating revenues at 33% of the total, and thanks to the generosity of current donors, current-use gifts to The Peddie Fund represented 5% of revenues.
Current-use unrestricted gifts to The Peddie Fund allow Peddie to not only be nimble and innovative, but these unrestricted funds support the needs of the school that inevitably emerge throughout the year, including faculty salaries, financial assistance, student life, athletics and the arts. Simply put, growing The Peddie Fund will ensure our continued ability to provide the full Peddie experience.
Peddie had a strong fiscal year 2024 with a strong balance sheet. We expect the overall operating revenue to increase by 6.7% to $45.1 million, while net tuition is expected to increase by 7.4% to $26.4 million. We continued to see the impact of higher inflation on our operations, with our operating expenses slated to increase by 6.5% to $45.6 million.
Peddie’s endowment was valued on June 30, 2023, at $422 million. The endowment continues to be stewarded by an effective and engaged Investment Committee, which works with an external advisory partner to achieve diversification across asset classes, geographies and industries, and prudent risk management. The returns from the endowment alone contribute just under $30,000 per student and support one-third of our operating budget. Looking forward, achieving Peddie’s visionary strategic objectives will require continued fiscal prudence and significant new resources, including unrestricted current-use support.
Revenue
55%
Tuition and Fees
32%
Endowment Income
7%
Auxiliary Enterprises
5%
Current-Use Unrestricted (The Peddie Fund)
1%
Other
Expenses
73%
Program Support
12%
Institutional Support
9%
Fundraising
6%
Auxiliary Enterprises
Fundraising
48%
New Endowment Gifts and Pledges
32%
New Current-Use Unrestricted Gifts and Pledges
18%
New Capital Gifts and Pledges
2%
New Restricted Gifts and Gifts Pending Designation
About Peddie
The Office of Alumni and Development
Karyn B. Vella P’21 ’24
Assistant Head for Development
kvella@peddie.org
Ryan W. Baumuller
Director of Leadership Giving
rbaumuller@peddie.org
Amy E. Cabot
Director of Gift Planning and Leadership Giving Officer
acabot@peddie.org
Katherine Grant
Director of Engagement and The Peddie Fund
kgrant@peddie.org
Laura-Lee Hensle Radtke ’92
Director of Special Events
lradtke@peddie.org
Paula D. Jones P’27
Office Manager and Special Project Coordinator
pjones@peddie.org
Lynn M. Klionsky
Development Operations Coordinator
lklionsky@peddie.org
Shannon Kortmann Madden ’13
Associate Director of Leadership Giving and Digital Strategy Specialist
smadden@peddie.org
Renee M. LaPorte
Associate Director of Prospect Management and Research
rlaporte@peddie.org
Nina Lauer
Gift Planning Administrator
nlauer@peddie.org
Bridgette McKnight ’10
Associate Director of Engagement and Reunions
bmcknight@peddie.org
Julia M. Meneghin
Director of Prospect Management and Research
jmeneghin@peddie.org
Douglas C. Seaberg
Leadership Giving Officer
deaberg@peddie.org
Dina Schwab
Director of Donor Relations
dschwab@peddie.org
Peddie is pleased to recognize donors who made gifts and pledges to Peddie between July 1, 2023 and June 30, 2024. To learn more about ways to support Peddie, visit peddie.org/support.
We strive to present an accurate depiction of our donors’ intent. In the event of any errors or omissions,
please contact Karyn B. Vella P’21 ’24, assistant head for development, at kvella@peddie.org.
The Report of Giving is produced by the Alumni & Development and Strategic Marketing & Communications departments.
Board of Trustees
As we celebrate our past successes and look to begin our labors anew, we honor the following trustees who demonstrate a deep commitment to furthering our school’s mission. As of July 1, 2024, members of the Peddie Board of Trustees are as follows:
TRUSTEES 2024–2025
Douglas E. Davidson ’64, Chair
Roger Durling ’82, Vice Chair
Mitka T. L. Baker ’96
Allison B. Davi ’02
Patrick W. Dennis ’98
Heather C. Drstvensek ’97
Domingo Garcia P’17 ’20 ’23
Jean Minskoff Grant
Carlos A. Guajardo P’22
Christine Hayden P’25 ’28
Patrick J. Horgan ’84
Stuart H. Kerr ’73
Robert B. Kugler ’68
Benjamin M. Levy ’00
Mitchell G. Mackler ’84
Sara L. McGinty ’96
Hari Moorthy P’22 ’25
Sunanda Nair-Bidkar P’20 ’22
Ndiya D. Nkongho ’95
Sheryl J. Oliver P’17 ’19
Ashish B. Patel ’95
Peter A. Quinn P’15 ’18 ’21
Robert J. Ruberton ’93
Bernadette Schmidinger-Brown ’01
Michael D. Smith ’79
Timothy H. Starkey ’96
Patricia Garcia Sullivan P’17
Chavon T. Sutton ’99
Ragy Thomas P’21 ’24
Sarah E. Venanzi
Stephanie Brisbin Warren ’95
Tracey L. Wetmore ’97 P’28
Sean N. Woodroffe P’19
Shenghong “Jonathan” Zhou P’24 ’26
CHAIR EMERITI
Christopher J. Acito ’85
Elizabeth S. Silverman P’03 ’10
TRUSTEE EMERITI
Michael R. Armellino ’57 GP’19
Alfred P. DiCenso ’52 P’89
Roy D. Grossman ’70
Terry W. Hensle ’60 P’92
J. Robert Hillier
Robert M. Kaye ’54
ADVISORY TRUSTEES
Arthur E. Brown ’63
Stephen L. Brown ’57 P’95
Roger J. Burns ’63
Karen C. Buroojy P’07
Susan W. Caldwell ’80 P’12
George C. Chen ’84
Edward C. Dippold ’81 P’12
Jeffrey D. Enslin ’84 P’14
Gabriel A. Galindo ’59 P’98 ’01
Bernard M. Goldsmith ’62 P’83 GP’12 ’15 ’18
Roger B. Hansen ’61 P’91
Ralph Izzo P’15
Jeffrey R. Larsen ’93
Kevin L. MacMillan ’93 P’26
Linda C. Marshall ’81
Wight Martindale ’80 P’16 ’18 ’20
David B. Mitchell ’63
Hal L. Rubin ’57
Anne L. Seltzer P’88
Gregory K. Smith ’85
P Parent GP Grandparent