The PP nailed it. I don't think the "DP. My kid goes to Gilman..." is even a parent or real, live, adult living in Baltimore. The more I read DCUM, the more I think there are bots or 13 year olds posting. Maybe just a REALLY bored Baltimore private school kid looking to stir the pot by relying on dated information from the Preppy Handbook. |
DP, but this seems off as well. Legg Mason and TRowe aren’t the centers of the finance world in Baltimore and haven’t been for a decade. It’s Brown advisory and a dozen other offshots. There is Sinclair money and Plank and associated UA money. On the real estate side, there is the Cordish family, and the St. John, Buzzotos, and the Paterkis families. Mayo Shattuck and the other top Constellation people do pretty well. There are Hopkins researchers and doctors whose names you might not recognize who made a Killing on a biotech companh For better or worse, we have the Angelos who seem to be increasing their wealth by bleeding the Orioles dry. What the first poster was referring to, perhaps not fully aware of what was going in, is young families living in big old mansions in Greenspring or Ruxton because real estate is often passed on by the old money families, instead of sold. Seems to be a much more common practice in Baltimore than other cities. |
Kevin Plank is self made, as are all the UA people. Sinclair are the sons of the founder. Ditto with Pateriakis and the Buzzotos. None of them are old money Baltimore, none are in the visiting book that still exists and all claptrap that goes with "old money." Sure, there's some wealth and it's mostly self made wealth these days. Old money has a nasty habit of dying out and fading away. Preciously few are handing down a house to the next gen. Kids get demotivated and move to Colorado to be ski instructors living off rapidly dwindling trust funds. Baltimore as a whole is not a rich city or a rich region, which doesn't preclude it from having its wealthy families and a billionaire or two and the remnants of the old money gentry who can trace themselves to Mount Vernon brownstones. But go to a place like Atlanta, and now there's real money. And that's just Atlanta! And to make it relevant to this thread, it has no real bearing on the privates. Plank doesn't even send his kids to BMS/Gilman but another private. A lot of the Paterakis went to public, a few went to BL. |
| There's a bunch of younger generation Paterakis' that are McDonogh alum. |
| Am I the only one who doesn’t give a rat’s behind where old money or new money send their kids to school? It seems like there are far more substantive criteria by which to evaluate a school? |
Every thread on this site turns into a pissing match about who has more/ knows people that have more. |
Families with money = donations. I don't care if the money is old or new, but I do care about endowments. Philanthropy fuels the schools' ability to hire, build, and provide educational options. I definitely compared endowments before we chose a school for our kids. |
What a strange response, my point was there is far more money in Baltimore than your response suggested. I never said any of those families were old money which you are strangely obsessed with and triggered by. Baltimore is a mid size city, of course it does not have as much wealth as much bigger cities like Atlanta or Dallas or Houston. |
Gilman has by far the biggest endowment, next is Mcdonogh and then the rest of the pack. |
All girls schools have lower endowments so those are out! |
Also Boys Latin. |
That's not the case anymore, they basically are same as of their most recent financials. Mcdonogh also has a for profit real estate entity with 100s or acres of land for commercial development/ already developed space that has been leased. It doesn't show as an asset until they distribute profits back to the school. Not that either school is ever going to hurt for money. |
I don’t believe this. The difference is significant and Mcdonogh has tons of debt from recent construction. The size of their endowment actually decreased. |
So you know google is a thing? Most recent 990s show Gilman with an endowment of $176 million and Mcdonogh with an endowment of $96 million. So not only are they not “basically the same,”. Gilman’s endowment is nearly twice as large. |
Are you the poster who posted "My kid goes to Gilman and the regular families, immigrants and non immigrants, are definitely poorer than the old money “lived in Baltimore for generations” people. The latter has serious generational wealth and multi million dollar homes/land. The other families are all dual income, often live in old, non-renovated, mediocre homes (around 1-1.2m) and stretch a lot to send their kids to these schools." And is now trying to back out of it? |