A N N U A L R E P O R T - Nichols School

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remembered in Bob Strauss: a
commitment to community service,
academic growth and athletic
participation. ($129,434)
Joseph Takats Scholarship
This scholarship was established by Joe
Takats, an alumnus of the class of 1935.
The Takats scholarship is awarded
annually to a student who has
demonstrated financial need and who
contributes to the quality of life at Nichols.
($92,635)
The Walsh Family Scholarship
Established through the Campaign for
Nichols School by members of the Walsh
Family, this fund was designed to provide
financial aid for a successful student who
has made a strong contribution to the
Nichols School community.
($250,005)
The Western New York Foundation
Scholarship Fund
Initially established in 1972 as a loan
fund, it was converted in 2005 to a
scholarship fund. This fund provides
grants to deserving and qualified students
who are selected pursuant to Nichols
School policies for admission and tuition
aid. ($315,918)
NICHOLS SCHOOL ANNUAL REPORT 2006-2007
Edward G. Zeller, Jr.
Memorial Fund
This fund was established in memory of
Edward G. Zeller, Jr. The income is used
to support the financial aid for a deserving
student. ($91,632)
Memorial Scholarship Fund
The Memorial Scholarship Fund was
established in June 1986. It was started
with the generous bequest that Hugh
Perry ’26 left to the School. Alumni,
parents and friends are encouraged to use
this fund as a vehicle for remembering or
honoring a loved one, a friend or a
classmate. It is a permanent endowment
fund that generates income to provide
financial assistance to deserving students
in grades 5-12. ($450,669)
To date the following memorials have
been established with gifts of $25,000 or
more within the Memorial Scholarship
Fund:
Class of 1949 Scholarship Fund
Established by the Class of 1949 to
provide a vehicle for classmates, their
friends and families to support scholarship
assistance at Nichols School.
Class of 1957 Scholarship Fund
Established in honor of the Class of 1957’s
50th reunion in order to provide a vehicle
for classmates, their friends and families
to support scholarship assistance at
Nichols School.
Eric DeFazio ’94
Established in memory of Eric DeFazio by
classmates, family and friends. Eric was
tragically killed in an automobile accident
just prior to his senior year.
Zachary David Lippman
Given in memory of Zachary David
Lippman by Francie D. and Joel N.
Lippman in 1996.
H. Richard MacKinder
This fund was established in memory of
H. Richard MacKinder, who died in 1998.
The income will be used to provide
scholarship assistance and special support
for Middle School students who are in
need, which was a special concern for
Dick.
Gordon L. Rashman, Jr. ’63
Initiated in 1994 by classmates, family and
friends in memory of Bill Rashman ’63.
Faculty Enrichment Funds
Robert E. Dillon Memorial Fund
This fund represents monies to be used
specifically to support the professional
growth and development of the Nichols
faculty, for example to attend seminars,
workshops and conferences. ($445,833)
Glenn W. Flickinger
Sabbatical Program
This program was established in 1988
through the generosity of the Glenn W.
Flickinger family to support the continuing
professional growth of Nichols teachers.
($215,749)
Austin M. Fox Endowed Chair
The Austin M. Fox Chair was designed to
honor and pay tribute to Austin Fox, who
was revered for his gifts in the classroom.
The individual named to this chair should
exemplify excellence in teaching, should
serve as a role model to colleagues and
students, and should be knowledgeable in
his or her discipline. ($133,365)
Kenneth Strachan Memorial Fund
The Kenneth Strachan Fund is a trust
whose income is used to provide
opportunities for faculty to participate in
enrichment and professional growth
activities during the summer or to pursue
graduate degrees throughout the year.
($362,098)
Endowment Summary
Fiscal Year Beginning Gifts Dollars Investment Ending
Ending Value Received Spent Return Value Net Gain
5/31/92 5,535,245 311,380 429,562 598,022 6,015,085 479,840
5/31/93 6,015,085 458,917 364,207 611,116 6,720,912 705,827
5/31/94 6,720,912 1,015,135 269,270 310,720 7,777,497 1,056,585
5/31/95 7,777,497 708,198 396,881 1,061,180 9,149,994 1,372,497
6/30/96 9,149,994 276,586 1,435,405 1,501,919 9,493,094 343,100
6/30/97 9,493,094 226,870 972,115 1,771,911 10,519,760 1,026,666
6/30/98 10,519,760 198,097 685,213 1,854,525 11,887,169 1,367,409
6/30/99 11,887,169 308,705 592,955 1,584,299 13,187,218 1,300,049
6/30/00 13,187,218 598,706 647,093 263,106 13,401,937 214,719
6/30/01 13,401,937 1,097,869 715,084 874,389 14,659,111 1,257,174
6/30/02 14,659,111 671,230 730,845 -1,410,302 13,189,194 -1,469,917
6/30/03 13,189,194 485,016 760,266 -52,721 12,861,223 -327,971
6/30/04 12,861,222 495,527 774,914 2,365,738 14,947,573 2,086,350
6/30/05 14,947,573 261,062 724,299 1,115,736 15,600,072 652,499
6/30/06 15,600,072 1,769,413 726,313 1,652,615 18,295,787 2,695,715
6/30/07 18,295,787 430,541 793,339 2,946,902 20,879,891 2,584,104
TOTAL 9,313,252 11,017,761 17,049,155 15,344,646
Expenditures in 1996 and 1997 include construction transfers.