# Gilman School

Gilman School is an Endowment / Foundation based in Baltimore, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Baltimore, United States
- **Region:** North America
- **Address:** 5407 Roland Avenue, Baltimore, MD 21210, United States
- **Founded:** 1897
- **Assets under management:** Undisclosed
- **Website:** gilman.edu
- **LinkedIn:** https://www.linkedin.com/school/gilman-school/

## Regulatory record

- **Reports private funds:** No

## About

Gilman School was founded in 1897 as the Country School for Boys, educating students from pre-kindergarten through twelfth grade on a single campus in Baltimore's Roland Park neighborhood. The institution's endowment emerged from a century of alumni loyalty and concentrated local philanthropy, most visibly from the W. P. Carey Foundation, which funded Carey Hall and the College Counseling Center. The endowment deploys capital across buyout, early-stage venture, seed, expansion-stage, and fund-of-funds structures. Named investment relationships on the board connect the school to StepStone Group through trustee John Avirett, and to Highfields Capital Management through lifetime trustee Jonathon S. Jacobson. The portfolio includes the campus itself, Carey Hall, and the Headmaster's House as physical assets alongside the financial endowment. The institution participates in the National Association of Independent Schools, the Association of Independent Maryland Schools, the International Boys' Schools Coalition, and the Global Online Academy consortium. Board leadership draws on the Baltimore financial community — Mark Fetting, who previously led Legg Mason, served as board president before Andrew Brooks assumed the role for the 2024-2025 term. What distinguishes the Gilman endowment is the density of investment professionals embedded in its governance rather than a dedicated internal investment office. Three board members hold or held senior roles at major asset managers, creating a committee structure that substitutes for the dedicated CIO model common at larger university endowments. The all-boys day-school format and single-campus architecture concentrate the capital base in a way that makes real asset holdings — school buildings, the headmaster's residence — an unusually large share of the total portfolio relative to peer independent schools.

## Sectors

- Education

## People

- Andrew Brooks — President of the Board of Trustees (2024-2025)
- Mark Fetting — Former Board President
- John Avirett — Board Trustee

## Questions

### Who runs investment decisions at Gilman School?

Investment oversight resides with the Board of Trustees. Andrew Brooks serves as President of the Board for the 2024-2025 term. The board includes multiple financial professionals: John Avirett is a partner at StepStone Group, Jonathon S. Jacobson founded Highfields Capital Management, and Mark Fetting previously led Legg Mason as CEO. The school does not publicly describe a dedicated internal investment committee separate from the board.

### What investment strategies does the Gilman endowment pursue?

The endowment's strategy spans buyout, early-stage venture (including seed and startup), expansion and late-stage venture, and fund-of-funds commitments. This is a multi-asset posture typical of a diversified long-term pool, though the school does not publish a formal asset allocation or performance report.

### What is the relationship between Gilman School and the W. P. Carey Foundation?

The W. P. Carey Foundation is a major donor to Gilman School. Its gifts funded Carey Hall and the College Counseling Center, both located on the Roland Avenue campus. The foundation's philanthropy is separate from the endowment's investment operations.

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Last updated: 2026-06-03T20:00:00.000Z

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