Key Takeaways
- • Henry Kravis and his wife Marie-Josée pledge $100 million to Loomis Chaffee School in Windsor, Connecticut—the largest gift in the institution's 150-year history and among the most significant donations to any independent school.
- • The donation is allocated across three funds: $50 million for the Henry R. Kravis '63 Opportunity Initiative Scholars Fund (financial aid and school supplies), $20 million for the Sheila A. Culbert Fund for Faculty and Staff Support (employee compensation), and $30 million for the Henry Kravis '63 Fund for Institutional Priorities (educational initiatives).
- • Kravis, co-founder and co-executive chairman of KKR, attended Loomis Chaffee in the 1960s; the school currently enrolls more than 700 students with annual tuition ranging from $54,000 for day students to $70,000 for boarding students.
- • The gift underscores a significant philanthropic commitment to independent school education and financial access, with Kravis citing his formative high school experience as foundational to his worldview and educational philosophy.
Summary
Billionaire private equity investor Henry Kravis has committed $100 million to Loomis Chaffee School in Windsor, Connecticut, marking the largest donation in the preparatory institution's 150-year history. The gift, made jointly with his wife Marie-Josée, an economist, represents one of the most substantial philanthropic contributions ever directed toward an independent school.
Kravis, who co-founded and serves as co-executive chairman of investment firm KKR, attended Loomis Chaffee during the 1960s and has structured the donation to address multiple institutional priorities. Half of the $100 million—$50 million—will fund the Henry R. Kravis '63 Opportunity Initiative Scholars Fund, which provides financial support to students with demonstrated need and covers school supply expenses. An additional $20 million has been allocated to the Sheila A. Culbert Fund for Faculty and Staff Support, designed to enhance employee compensation and retention. The remaining $30 million will support broader educational initiatives through the Henry Kravis '63 Fund for Institutional Priorities.
In a statement, Kravis emphasized the transformative impact of preparatory education, noting that "Loomis Chaffee taught me how to appreciate different perspectives, and it ultimately made me a lifelong student of the world." Sheila Culbert, head of Loomis Chaffee, characterized the gift as reflective of the school's commitment to "academic distinction" and its founders' original mission around "access and opportunity."
The school, which currently serves more than 700 students, charges annual tuition of $54,000 for day students and $70,000 for boarding students. This donation aligns with Kravis's broader philanthropic pattern; he previously pledged $100 million to Columbia Business School in 2010 for a new building, demonstrating consistent support for educational institutions that shaped his early development.
Kravis, who co-founded and serves as co-executive chairman of investment firm KKR, attended Loomis Chaffee during the 1960s and has structured the donation to address multiple institutional priorities. Half of the $100 million—$50 million—will fund the Henry R. Kravis '63 Opportunity Initiative Scholars Fund, which provides financial support to students with demonstrated need and covers school supply expenses. An additional $20 million has been allocated to the Sheila A. Culbert Fund for Faculty and Staff Support, designed to enhance employee compensation and retention. The remaining $30 million will support broader educational initiatives through the Henry Kravis '63 Fund for Institutional Priorities.
In a statement, Kravis emphasized the transformative impact of preparatory education, noting that "Loomis Chaffee taught me how to appreciate different perspectives, and it ultimately made me a lifelong student of the world." Sheila Culbert, head of Loomis Chaffee, characterized the gift as reflective of the school's commitment to "academic distinction" and its founders' original mission around "access and opportunity."
The school, which currently serves more than 700 students, charges annual tuition of $54,000 for day students and $70,000 for boarding students. This donation aligns with Kravis's broader philanthropic pattern; he previously pledged $100 million to Columbia Business School in 2010 for a new building, demonstrating consistent support for educational institutions that shaped his early development.
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