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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Georgetown Prep's current endowment appears to be $20 million.
http://www.boardingschoolreview.com/school_ov/school_id/232
http://www.businessinsider.com/most-expensive-boarding-schools-2011-9?op=1
Interesting also that according to the Business Insider article, GP is the 12th most expensive boarding school in the nation ... but still cheaper than 4th most expensive St Albans, and 3rd most expensive Sandy Spring Friends School (!?).

GP's transfer of land to the apartment developer is interesting.  I was not aware of the details.
http://www.washingtonpost.com/wp-dyn/content/article/2007/01/28/AR2007012801126.html
http://www.ourkids.net/dialogue-new/article.php?id=186
Apparently, the lease was instigated by GP's desire to build a $70 million athletic center.  It funded construction through a bond offering, and needs the lease payment stream to pay on the bonds.  So in effect, the lease doesn't seem likely to add to the school's endowment for some time to come.  The lease payments will total $888 million if they continue for the full 99 years.  In present dollars, they really amount to only $1.6 million per year, increasing at 3% per year to (hopefully) keep pace with inflation.  (Does anyone know a good NPV calculator online that can determine the effective present value of that payment stream?)  Sounds like GP got a new athletic center, and the developer got a pretty prime piece of real estate for its apartment complex.  Good deal for both sides.[/quote]

The linked articles say that that only $23 million of the $70 million raised was used for the athletic center. The remainder was used for student aid and other school operations.  Not exactly the same, but much like a $47 million boost to endowment + a state of the art facility.  Not bad for 4 acres of forrested property.

Yes a good deal for both sides at the time.  Since inflation hasn't been anywhere near 3%, the deal is turning into a huge windfall for Prep (the power of compound interest) --and that for just 4 acres of 90 on the Prep campus. [/quote][/quote]

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