from Boston Business Journal

By the end of June, Milton Academy was already feeling effects of souring economy — months before the worst of the global credit crisis.

In fiscal 2007, the school had posted gains on its endowment of more than $25 million. But at the closing of the 2008 fiscal year that swung to a loss of nearly $5 million, which resulted in total decrease in net assets of more than $2 million.(read full story here.)