Key Takeaways
- • Henry Kravis and his wife Marie-Josée pledged $100 million to Loomis Chaffee School in Windsor, Connecticut, marking the largest gift in the institution's 150-year history and among the most significant donations ever made to an independent school.
- • The donation is structured across three funds: $50 million for the Henry R. Kravis '63 Opportunity Initiative Scholars Fund (supporting financially needy students 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 private equity firm KKR, attended Loomis Chaffee in the 1960s; the school currently enrolls over 700 students with annual tuition ranging from $54,000 for day students to $70,000 for boarding students.
- • The gift reflects Kravis's stated belief in the transformative power of preparatory education, particularly during formative high school years, and aligns with the school's foundational commitment to access and opportunity.
Summary
Private equity billionaire Henry Kravis committed $100 million to Loomis Chaffee School, his former Connecticut preparatory school, in a donation made jointly with his wife Marie-Josée, an economist. The gift represents the largest in the school's 150-year institutional history and ranks among the most substantial philanthropic commitments to an independent secondary school in recent years.
The structured donation allocates capital across three distinct initiatives. Half of the total—$50 million—funds the Henry R. Kravis '63 Opportunity Initiative Scholars Fund, designed to provide financial aid to students demonstrating financial need and to subsidize the cost of school supplies. An additional $20 million establishes the Sheila A. Culbert Fund for Faculty and Staff Support, directly benefiting teacher and staff compensation. The remaining $30 million is directed toward the Henry Kravis '63 Fund for Institutional Priorities, which supports broader educational programming and infrastructure.
Kravis, who graduated from Loomis Chaffee in 1963, attributed his giving to the school's formative impact during his adolescence. "I'm a strong believer in the positive impact a world-class education can have on a person, especially during the formative high school years," Kravis stated. "Loomis Chaffee taught me how to appreciate different perspectives, and it ultimately made me a lifelong student of the world." Sheila Culbert, head of school, characterized the gift as reflecting the donors' commitment to academic excellence and reaffirmed the institution's founding mission centered on access and opportunity. Loomis Chaffee currently serves over 700 students, with tuition costs of $54,000 annually for day students and $70,000 for boarding students.
The structured donation allocates capital across three distinct initiatives. Half of the total—$50 million—funds the Henry R. Kravis '63 Opportunity Initiative Scholars Fund, designed to provide financial aid to students demonstrating financial need and to subsidize the cost of school supplies. An additional $20 million establishes the Sheila A. Culbert Fund for Faculty and Staff Support, directly benefiting teacher and staff compensation. The remaining $30 million is directed toward the Henry Kravis '63 Fund for Institutional Priorities, which supports broader educational programming and infrastructure.
Kravis, who graduated from Loomis Chaffee in 1963, attributed his giving to the school's formative impact during his adolescence. "I'm a strong believer in the positive impact a world-class education can have on a person, especially during the formative high school years," Kravis stated. "Loomis Chaffee taught me how to appreciate different perspectives, and it ultimately made me a lifelong student of the world." Sheila Culbert, head of school, characterized the gift as reflecting the donors' commitment to academic excellence and reaffirmed the institution's founding mission centered on access and opportunity. Loomis Chaffee currently serves over 700 students, with tuition costs of $54,000 annually for day students and $70,000 for boarding students.
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