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GSSM foundation reports record gift of Delo House, endowment near $19M and fundraising gains
Summary
The school's foundation reported exceeding its FY target, an endowment near $19 million, and completion of the largest gift in its history—a donated home (the Delo House) that will transfer to the foundation and potentially serve as a presidential residence and event venue.
The Governor's School for Science and Mathematics foundation told trustees that fundraising has exceeded expectations this fiscal year and announced the foundation’s largest gift in history: the Delo House.
Ben, the foundation director, said the foundation had exceeded its budgeted revenue (about $1.225 million as of April) and expected an additional roughly $200,000 before year‑end. The foundation reported an endowment balance approaching $19 million and said a draw from the endowment would fund allocations approved earlier in the year, including $60,000 for robotics and $60,000 for global initiatives if needed.
The Delo House gift has been approved and the gift agreement signed; the foundation and donor have issued a press release and are arranging appraisal and insurance. Foundation staff said the house could host large events (they estimated a 400‑person capacity for some uses) and may serve as a presidential residence; transfer depends on the donor finishing preparations and inventorying items to remain with the property.
Why it matters: the gift expands the foundation’s asset base and event capacity and gives the school a resource to host donors, legislators and international guests. The foundation also highlighted a successful fundraising event (the 'towns award') that raised $153,000 against a $140,000 goal and two matching gift challenges to spur alumni and trustee giving.
What’s next: foundation staff will complete appraisal and insurance tasks to finalize the transfer; trustees were invited to suggest honorees for next year’s town award and to participate in matching gift challenges.
