Endowment and Scholarship

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Students running through campus
Financial Health and Affordability

Endowment and Scholarship programs drive the School's financial health and provide tuition assistance.


The growth of an independent school’s endowment is vital to the long-term financial health of the institution. A robust, well-managed endowment enables independent schools like Morristown-Beard School to strengthen its future aspirations by providing increased support to both unrestricted and restricted needs. 

Charitable giving to our School’s endowment provides significant long-term benefits. The continual source of investment income generated by a growing  endowment enables the Headmaster and Board of Trustees to effectively plan and build for the future. Infrastructure is an evolving priority for investment income, as is maintaining tuition increases at a lower level than many peer schools. 


Financial need-based scholarships are an important priority for MBS. While investment income from the endowment helps limit tuition increases, the affordability of an independent school education continues to be a challenge facing schools nationwide.

Related issues such as student diversity and inclusion amplify the growing need for scholarship support.


The  MBS Scholar Partners Program allows members of the MBS community to provide mentorship and tuition assistance to outstanding local students from disadvantaged backgrounds – creating opportunity for students who would not otherwise have access to an exceptional education. 

On behalf of Headmaster Caldwell and the Board of Trustees, I am happy to express the School’s gratitude for gifts that support endowment and various scholarship assistance programs. MBS is very fortunate to have an incredibly generous community of parents, alumni, and friends who have made so many of our recent accomplishments possible.
Betsy Patterson, P ’14, ’16
Director of Advancement

Named Endowment and Scholarship Funds

Philip L. Anderson Fund This fund was established in honor of Mr. Anderson, MBS Headmaster from 1974-1992.
Beard/Nevins/Vostal Memorial Scholarship Established in memory of three MBS students – Randy Beard ’78, Billy Nevins, and Robbie Vostal ’79 – from the Essex Fells area, this scholarship supports tuition assistance for MBS students.
Casey Archer Fund Created in 2014 by Casey’s mother, Ginger Archer, in memory of Casey, this fund provides financial assistance to students with a demonstrated need.
Spike Billings Scholarship Established in 1997 upon the retirement of Spike Billings, former MBS Athletics Director and coach. Funds are directed by the Athletics Director to support students receiving financial aid.
Mary-Ellen Campbell Scholarship This fund supports tuition for a student who requires financial assistance to attend MBS. It was established by the family of Mary-Ellen Campbell.
Anthony M. Daur Memorial Scholarship Established in 2006 in memory of former history teacher Tony Daur, the award is given to a junior who embodies the spirit and ideals of this beloved teacher and coach.
Paul R. Furrer Scholarship Established in 2000, this scholarship honors Paul R. Furrer, math teacher, business manager, and member of the MBS family for 33 years. The scholarship is awarded to a deserving student who excels in math or science and requires financial assistance to attend MBS.
Matthew Giaquinto Scholarship Fund To honor Matthew’s legacy at MBS, the Giaquinto Family established this scholarship fund. Gifts to the fund support scholarship assistance for students with demonstrated financial need.
David V. H. Hedley III ’87 Scholarship This fund was established by School Trustees upon Mr. Hedley’s retirement as Board President. The scholarship is awarded to a student with financial need who shows particular promise and ability in expressing the qualities attributed to leaders.
Hedley Family Faculty Endowment Fund Created in 2005 by David ’64 and Michele Hedley, and David Hedley III ’87, the fund exists to recognize, appreciate, and support outstanding teachers at MBS. 
Arthur L. James Scholarship Established in 1988 to honor former fine arts teacher Arthur James, this scholarship helps a student in the fine arts and is based upon merit and need.
Kellogg Faculty and Staff Appreciation Fund Established in 2001 by Peter R. Kellogg in memory of his mother, Elizabeth Kellogg, this fund provides grants to MBS teachers and staff. 
A. P. Kirby, Jr. Discretionary Income Fund This fund was established by Allan P. Kirby, Jr. ’49 to support a variety of capital and program needs at MBS.
Edmund Kramer Endowment Fund This fund was established by David Kramer ’69 and Doug Kramer ’71 in honor of their father.  It provides for an award to a student who shows ability in art, especially photography.
William E. Lehman Lecture Series for Art and Architecture Created in 1987 by Emily Lehman Smith ’56 and Gail Lehman Harty ’59 in memory of their grandfather and parents, this fund supports the lecture series on art and architecture held annually at MBS.
Susan Marie May Fund This fund was created in 1983 by the parents of Susan May, and it provides annual support for a student with outstanding talent in art.
V. Rodman Reed ’24 Scholarship Established to honor Virginia Rodman Reed ’24, this scholarship is awarded to a deserving student who demonstrates need and whose mother or father is deceased.
Greg A. Ryan Fund Established in 2004 in memory of Mr. Ryan, an MBS teacher and coach for 10 years, this fund helps scholarship students meet costs associated with off campus school activities.
Kipp Sujet ’94 Scholarship Created in 1995 in memory of Kipp Sujet ’94 by family and friends to honor Kipp’s courage, optimism and strength, the scholarship is awarded annually to a student who expresses these qualities and who has a demonstrated financial need.