The LAHSAI had several components built in to the design to ensure sustainability. Most importantly, the model recognized that new funding streams had to be created in order to meet the increased cost of middle-income affordability. A requirement of participation in the Initiative was a commitment to raise between $2 – 5 million dollars/school in endowment funds over the six years of the program, based on the size of the school budget. Success in raising these dollars, coupled with a 1:4 match from the community’s Simha and Sara Lainer Day School Endowment Fund, would result in available funds for tuition subsidy/financial assistance ranging from $125,000 to $312,500. The grant required that the endowment annual yield would be used exclusively to continue middle income tuition assistance for the six years following grant funding.
The lay leaders at the majority of the schools in the program have expressed a deep appreciation for, and commitment to, endowment development. Many have publicly stated that they do not intend to stop endowment fundraising when they meet the LAHSAI final endowment benchmark. Rather, their goals are now multiples of the initial fundraising benchmark. BJE will continue to encourage the schools to grow their endowment and believes that the success of the program in meeting the initial benchmarks as well as the impact of the steady funding stream will ensure the model’s sustainability.
For information on the Budget and Cost click here.