The Impact of Your Giving
With the sale of the campus and the affiliation with Yale, there are some misconceptions about the status of the school’s finances. In short, although we made these moves to achieve sustainability, we are not flush with cash. We still depend on contributions.
The Newton Centre campus was sold for $31.9 million, although the school will be paid that amount over time. The final payment will be made at the end of 2022. At that time, the net yield to the school—after mortgages on the campus, commissions and other commitments have been paid—will be about $17 million. The proceeds of the campus sale will be added to our endowment. Currently, our endowment (including proceeds from the sale of the campus) is still less than our endowment was in 2007.
Income from our endowment is the primary source of support for Andover Newton Seminary, but giving from individuals and congregations represents 16% of our budget (up from 10% when we were a free-standing school). So, your giving is more important than ever.
Yale does not financially support the work of Andover Newton Seminary. The good news is that money contributed to Andover Newton is used by Andover Newton for Andover Newton’s mission.
Ministry has not become any less challenging in the 210 years since Andover Newton was founded, and a strong case could be made that ministry is more challenging than ever. And there is a lot at stake. The world needs congregations of compassion and justice now more than ever, and congregations need inspiring leaders who are prepared for their work because they have received an excellent education.