Gann Academy Receives $12.25m Gift; Long-Term Debt Eliminated

A group of anonymous donors has contributed $12,250,000 to Gann Academy, a pluralistic Jewish high school serving the Greater Boston community, for the sole purpose of eliminating the School’s long-term debt. The gift, the largest in the School’s 13 year history, makes a significant statement in the current economic climate.

Head of School Rabbi Marc Baker said, ““It’s rare for donors to use their gifts to pay down debt. People like to see their money going to new things: buildings or directly into programs. To have the foresight to see how critical it is that we should be secure for the future is huge financially, psychologically and existentially. It puts us in a dramatically different place.”

In 2002, Gann borrowed $15 million through the issuance of tax-exempt bonds to finance the purchase of its 20-acre campus and construction of its 105,000 square foot facility in Waltham, Massachusetts.

Barry Shrage, President of Combined Jewish Philanthropies of Greater Boston, said, “Gann Academy is nationally recognized as a model of innovation and quality. The announcement demonstrates that, even in this challenging economic environment, generous donors can be inspired to make record-breaking gifts to promote excellence and affordability in Jewish education.”

about: Gann Academy – The New Jewish High School of Greater Boston is a pluralistic day school committed to providing a challenging, nurturing, and inspiring education that integrates intensive Jewish studies with the sciences and the humanities. It was founded on the conviction that Jewish day school education during the adolescent years is crucial for developing Jews who will be knowledgeable, sophisticated, and passionate about Judaism and who will make lasting contributions to the Jewish community, American society, and the world at large.