The Next 500 Appeal
Funding from the Direct Grant Scheme and Assisted Places Scheme has helped MGS to be accessible for poorer families at different times in our history. Our objective in embarking upon the Bursary Appeal in 1998, in the context of the withdrawal of the Assisted Places Scheme, was to establish a protected capital fund that would produce income in perpetuity to subsidise the fees of suitably able boys from families of modest means.
Since 1998, thanks to donations from Old Mancunians, parents and supporters, the bursary fund managed by the MGS Trust has grown to over £25m. One sixth of the pupils in the School receive means-tested financial help, with the average support being 95% of the school fee. This is a remarkable achievement but in spite of the success that we have achieved, we regret that each year we are disappointing about 30 deserving boys for whom we have insufficient funds.
The Next 500 Bursary Appeal reached its £10m target in July 2016, and in January 2017 the MGS Trust set up a dedicated Bursary Endowment Fund with £5m of the existing assets transferred and ring-fenced. The transition to full endowment will be managed prudently over the coming years. For more information about the Bursary Endowment Fund, please click here.
We are enormously grateful to all Old Mancunians and supporters of the School who contributed to this success. However, the bursary fundraising will continue for years to come until the MGS Trust has sufficient resources to operate as a true endowment fund to provide investment income each year to support all deserving boys. We believe that we need to build a true endowment worth £100m to achieve our ultimate aim of having a needs-blind admissions where boys are admitted to the school based on their academic potential rather than their economic background.
We hope that our supporters will include the MGS Trust amongst their chosen charities in the coming years and give according to their means.
To download a donation form, please click here.
To donate online, please use the donation form below.