Every year, Fieldston undergoes an extensive budgeting process to plan for the upcoming school year. With tuition for 2025-26 set at a steep $68,162, many parents and students may wonder: where does all this money go? To help clarify where these funds are directed, we sat down with Fieldston’s Chief Executive Officer, Kyle Wilkie-Glass, to break down how the school allocates its budget, from faculty salaries and financial aid to infrastructure and future expansion plans.
How the Budget is Created
The budget process starts in October, nine months before the new fiscal year (July 1 to June 30). Each area of spending – such as field trips, departmental office supplies and student activities – has a designated owner responsible for proposing and managing expenses. This financial plan outlines personnel and non-personnel costs, along with anticipated changes. Wilkie-Glass explained, “Think about the budget as a plan…What does your personnel look like for next year? How are personnel costs rising? Look at your non-personnel costs. Are you going to be doing more field trips, fewer field trips, more student activities, fewer student activities?”
Tuition and Its Role in the Budget
Tuition is the primary source of revenue for the school, covering approximately 86% of the school’s operating costs–a figure that is in line with many independent schools. For the 2025-26 school year, tuition is projected to increase by 4%, bringing it to $68,162. According to Wilkie-Glass, Fieldston aims to keep tuition increases as low as possible, recognizing that affordability is a significant concern for many families. The school benchmarks its tuition increases against peer institutions, such as other independent and hill schools, to ensure it remains fair. A general rule of thumb for independent school tuition is that it doubles approximately every 20 years. However, as seen in the graph below, historical tuition data shows that Fieldston has recently worked to bring its 10-year average tuition increase down from 4.24% through responsible budgeting and careful financial planning.
Faculty Salaries and Labor Costs
One of the main priorities in the Fieldston budget is compensating teachers. Faculty salaries follow a step system based on experience and are set by a collective bargaining agreement (CBA) with the faculty union, the Faculty Interest Committee (FIC). The FIC plays a crucial role in advocating for fair compensation and benefits, ensuring that faculty members are recognized for their contributions to the school community. The FIC made its presence especially visible as it negotiated a new contract with the administration, with faculty members wearing buttons to demonstrate solidarity. The agreement was ultimately approved with overwhelming support from union members, reinforcing the strength and unity of Fieldston’s faculty. In determining salaries, the school benchmarks salaries against peer institutions and aims to be a market leader in teacher pay. Next year, faculty salaries will range from $73,069 to $177,505, with the average full-time faculty salary, including base pay and stipends, at $131,708.
As Wilkie-Glass put it, “We invest in great teachers, and that’s the important thing that I think we also included in that message, is that we wanna make sure that we are compensating the talent in the classroom with our kids, the folks who are behind the educational program, and the folks who are really making the magic happen.”
Financial Aid and Affordability
Wilkie-Glass recognizes that affordability is a growing concern in New York City’s independent school landscape. Financial aid increases yearly at the same rate as tuition to ensure existing aid recipients are not priced out. According to Director of Financial Aid Victoria Daley, currently 22% of students at Fieldston receive financial aid. While the exact figure for the 2025-26 school year has yet to be determined, it is expected to see a slight increase. Wilkie-Glass explained that the school’s goal is to ensure “When somebody comes here, whether it’s in Pre-K, Kindergarten, sixth grade, or ninth grade, we want to bring them here and make it a 14-year experience–13, 12, 10, four–however long it is–and give people the security that they will be able to financially afford the school.” He added, “Affordability is a huge issue with independent tuition in New York City and beyond. And what we see our financial aid pool do is drive socio-economic diversity, which has obvious and clear links to racial-ethnic diversity across the city as well.”
Other Key Budget Priorities
- Healthcare Costs
The school covers about 80% of employee healthcare costs, demonstrating its commitment to supporting faculty and staff well-being. Despite the rising costs of healthcare in recent years, the school’s continued investment in employee benefits highlights its dedication to ensuring that faculty members have access to essential medical care without an overwhelming financial burden.
- Facilities and Infrastructure
Maintaining Fieldston’s aging but beautiful campus requires constant investment in renovations, brickwork and utilities. A harsh winter can drive up costs due to increased heating and maintenance needs.
- Technology and Clubs
Club funding is included in the student activities budget, while technology investments fall into two categories: capitalized (large equipment purchases) and non-capitalized (software and operational expenses).
- Endowment and Revenue
The school has a $125 million endowment, with about 5% used annually to support programs. The Orange Fund is Fieldston’s primary annual fundraising initiative, designed to sustain and enhance the school’s progressive pedagogy. Supporting areas such as financial aid, faculty development, education technology, athletics and the arts, the fund ensures that every student, regardless of financial background, can access the full Fieldston experience. By investing in curriculum innovation and co-curricular activities, the Orange Fund strengthens the school’s commitment to academic excellence.
Future Expansion
One of the most exciting budget priorities is a planned expansion of the school’s science and innovation facilities. While details are still being finalized, the school is considering renovating existing spaces or constructing a new building entirely. Such a project would require investments in faculty, utilities and equipment but would enhance students’ STEM learning experiences.
Looking Ahead
According to Wilkie-Glass, Fieldston is in one of its strongest financial positions in years, thanks to responsible budgeting and strong community support. With tuition covering most operating costs, the school is working to balance affordability with the need to maintain high-quality education, competitive faculty salaries and modernized facilities.
