Yarmouth, Maine, May 5, 2023: Over the last several months, North Yarmouth Academy (NYA) alumni, parents, and grandparents have made an historic impact on the Academy by contributing $1,300,000 to the endowment. “The generosity of these families will strengthen and expand the Academy’s resources for faculty, students, and programs,” said NYA’s Head of School Ben Jackson. “We are deeply grateful to donors who make gifts to the endowment because they believe in the work happening here at NYA, and they want to ensure that continues in perpetuity.” Two recent endowment gifts illustrating the variety of causes inspiring benefactors were made by the Lynch-Mote and Cabot families.
The purpose of the endowment is to provide ongoing support for the Academy’s current and future needs, while preserving real value for future generations. The corpus of an endowment gift is invested and remains untouched while a percentage of the interest gained from this investment, known as the payout, is used each year as intended by the donors.
The Lynch-Mote family, Case and Gail Lynch GP’29, GP’31 and Dewey Mote and Jess Lynch P’29, P’31, created two endowment funds with their gifts, including the Lynch-Mote Family Endowed Scholarship Fund to provide need-based financial aid to students. The family also chose to endow the Opportunity & Excellence Fund, established with current-use gifts in 2021. The Fund ensures students from every socioeconomic background can fully benefit from the transformative NYA experience by reducing financial barriers that may prevent students from accessing the activities available at NYA.
“As a family we would like to ensure that students who desire an independent school education can have access to NYA and, once here, feel they have all of the tools needed to find and pursue their passions and to achieve their full potential,” said NYA Trustee Jess Lynch.
James ‘98 and Renée Cabot P’30, P’32, P’36, who together with James’ brother Alexander ‘01, made the lead gifts to the Bicentennial Learning Commons project, recently established the Susan Knight Cabot Library and Literacy Endowment Fund. This endowed fund supports the academic programs, materials, equipment, technology, and furnishings needed to ensure the Bicentennial Learning Commons fulfills its purpose.
“Our family’s goal in making this gift was to further the Academy’s mission of fostering intellect, collaboration, and a desire for lifelong learning in students,” said NYA Trustee James Cabot. “We chose to name the fund in honor of my mother, a former librarian, to commemorate her love of literacy and learning.”
Additional gifts to endowment funds have supported the Character, Service, and Leadership program, Scott K. Merrill Scholarship Fund, Savage Endowment for Faculty Advancement, Robin F. Kelley Scholarship Fund, Steve Morris Scholarship Fund, the NYA Scholarship Assistance Fund, and the general operating endowment. A list of NYA endowment funds can be found here.
While continuing its goal of growing the endowment through philanthropy, NYA is also ensuring the Academy can deliver the best possible academic program to current students. At the 39th annual spring Soirée planned for Friday, June 2, the NYA community is invited to gather for a night of camaraderie and support for the Academy. The event will feature live and silent auctions, games, and a paddle raise to benefit experiential learning. A hallmark of the NYA program is the hands-on learning that often takes place outside the classroom – on the stage, performing community service, in the wilderness, on class trips, and visits with authors, artists, scientists, and other experts. Funds raised at the Soirée will augment the recent endowment gifts, helping students become more engaged and excited about learning and ensuring NYA faculty have the resources needed to add a variety of experiential activities to their curriculum.
North Yarmouth Academy is an independent, college preparatory, coeducational school for toddlers to students in grade twelve with an enrollment of 375 students. Since 1814, NYA has fostered integrity, character, and intellect in its students. To learn more about giving to or creating an endowed fund, please contact Jennifer Richard, Director of Development (207-847-5429).