TUESDAY, JANUARY 14, 2014 ALTERNATIVE REVENUE STREAMS For the audio portion, please dial: US/Canada: 866-627-5180 Conference ID: 61736701023 ETIQUETTE & LEARNING MORE ABOUT ADOBE CONNECT • You have all been muted • To join the conversation, just unmute your line by pressing #6. After, you can mute your line by pressing *6 • Please do not put your phone on hold; the background music is very disruptive • We encourage you to participate by entering questions in the Chat “pod” on the bottom right of your screen • You can chat with one or all participants on the call. To send messages to individuals, hover your pointer over that person’s name in the Attendee pod and a menu will appear. Select “Start Private Chat” and a second tab will appear in the Chat pod APPLY NOW! PEJE’s Recruitment & Retention Academy • May 18-20, 2014 • Chicago, IL • Space is Limited • To learn more and to apply please visit the PEJE website: www.peje.org/recruitment/ • Email Elana Alfred at [email protected] or call 617-367-0001 x155 for any questions. MEET OUR GUESTS Nick Stoneman President, Shattuck-St. Mary’s School Ray Levi Head of School Emeritus, Heilicher Minneapolis Jewish Day School Achieving Financial Sustainability through Asset Optimization Independent School Revenue Endowment Tuition Revenue Sources Alternative Revenue Annual Giving Threats to Revenue Sources Student attrition Increased competition Faculty departures Inadequate facilities Drop in giving “Falling behind” market perception Lack of revenue diversification Weak endowment returns A Different Approach to Independent School Revenue Asset Optimizing New Initiatives • • • • • • • Faculty Engagement Student Retention Enrollment Growth Facility Expansion Endowment Growth Program Enhancement Alternative Revenue Preserve the base AND expand revenue sources What are these Assets? The Building Blocks The Physical Faculty and Staff Brand Recognition External Relationships Geography and Region (+/-) Programs Offered Essentials for Asset Optimization No silos allowed Leadership team must: Model integrative thinking See change as normal Believe in the power of imagination Must see the dots to connect the dots Head of School must be comfortable not being the expert Board must support innovative thinking Optimizing through Intertwining External Brand Location Internal Physical Program • • • • • • • Increased Enrollment Faculty Retention Increased Giving Facility Growth Program Growth Student Retention Alternative Revenue Scrabble as a Management Tool External External External Brand Brand Brand Location Location Location Facilities Internal Facilities Internal Facilities Internal NEW OFFERING Increases Enrollment Program Program Program Using Assets to Develop Alternative Revenue Physical Faculty and Staff Programs Alternative Revenue Brand External Relations Geography and Region Ice Arena Rentals 300,000 SSM Elite Hockey Camp Pro Development Hockey Camp Korean Elementary Camp 250,000 Figure Skating Camp ESL Institute Dome Rental 200,000 School Store St. James Campus Net Sabre Café 150,000 Vending Machines Other Summer Camps 100,000 Boy's Prospects Tournaments Sponsorship Program Soccer Academy 50,000 Girl's Prospects Tournaments STEM Academy - Weddings YMCA Camp Skating Academy Ropes Course 1 Alt Rev Distribution Plotting Feasibility Low ELL Web App Film Production Educational Tech Co EB5 Regional Center ESL On-Line Elder Hostels $ Bagel Sales $$$ Wind Farm On-Line Academy AP Weekends Tournaments Inn/Banquet Facility Cafe Land Development ESL Institute Golf Course Charter School Rentals Camps High International Campus Supplemental Sources of Income $1mm of net SSI revenue = $25 mm of Endowment + Faculty additional compensation Wear and tear on Facilities Not as exposed to market trends Leverages what you have Program expansion Not on Balance Sheet Requires teamwork and innovation Sustainability Faculty professional growth Balance to admissions swings AND can create a recruitment pool Facility growth Must earn each year Using Assets to Develop Centers of Excellence Physical Faculty and Staff Programs Centers of Excellence Brand Geography and Region External Relations Center of Excellence A program aspiring to be nationally recognized in the arts, athletics, or academics. “Admissions Magnet” Sits alongside a School’s core program Creating a Center of Excellence Six essential elements: Leadership Program design Marketing Merit Aid as seed Facilities Outcomes Assets at Work – Pre-Conserv CoE Elite Instructorsand Geography in Region Region Elite Violinist Faculty and Faculty Staff Member Concert Hall Physical Facility Pre-Conservatory Center of Excellence Parent -Exec External DirRelations of St Paul Chamber Orch Global Ed Brand Program Assets at Work – Bio-Science CoE Medical Alley Geography and location Region Staff member Faculty and married Staffto Hospital CEO Physical STEM Center Bio-Science Center of Excellence Significant External # of medical Relations field alumni Innovative Brand Reputation Assets at Work–Campus Expansion Located in the Geography and U.S. Region Unique Faculty involvementand of Staff students, faculty and Board Global Ed Program Program Campus Expansion Global Alumni External and Parent Relations Network Alternative Revenue Brand Reputation Assets at Work – Blended Learning Technologically Geography and advanced Public Region Schools SchoolFaculty community’s and commitment Staff to innovation IT Backbone Physical and Bandwidth Blended Learning External Foundation Relations Support Experienced in Program Distance Learning Blended Learning at Shattuck-St. Mary’s School 250 200 Number of Courses Number of Faculty 150 Students Enrolled 100 Blended Pilot Students 50 0 2009 2010 2011 2012 2013 Asset Optimization: Team Effort Head of School Soccer Athltic Dirctr Admissions Faculty and/or Staff Parents √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ √ Board Advancement CFO √ √ √ Golf √ √ √ Bio-Science √ √ √ PreConserv √ √ √ Campus Expansion √ √ √ weCreate √ √ √ Blended Learning √ √ √ Acad Dean √ √ Asset Optimization: Asset Usage Summary Facilities Region and Geography Faculty, Staff External Relations Brand Soccer √ √ √ √ √ Golf √ √ √ √ √ √ √ √ √ Bio-Science Pre-Conserv √ √ √ √ Campus Expansion √ √ √ √ √ weCreate √ √ √ √ Blended Learning √ √ √ √ Program √ √ √ Asset Optimization: The Complete Impact Alternative Revenue Student Retention Faculty Retention Facility Growth Program Growth Soccer Golf Pre-Conserv Bio-Science Campus Expansion weCreate Blended Learning High Medium Low Admission Alumni Cultivation Asset Optimization: The Impact at SSM 2003-04 2013-14 Net Revenue ($1,800,000) $425,000 Annual Fund $650,000 $900,000 290 450 Enrollment Endowment Net Asset Value $8,000,000 $24,500,000 $13,000,000 $37,000,000 THANK YOU TO OUR GUESTS! Ray Levi Head of School Emeritus, Heilicher Minneapolis Jewish Day School [email protected] Nick Stoneman President, Shattuck-St. Mary’s School [email protected] NEXT STEPS: CONTINUING THE CONVERSATION What would you like to continue talking about in Google Groups? Title: Message: If you need a reminder about Google Groups, refer to your Quick Guide for Google Groups. For additional assistance, email [email protected] NEXT STEPS: UPCOMING CALLS How to Use Data to Construct Your Affordability Strategy Thursday, February 13, 2014, 1 pm EST Miriam Prum Hess, Director, Center for Excellence in Day School Education, BJE-LA Branding Your School for Distinctiveness and Success Thursday, March 20, 2014, 1 pm EST Laura Sheridan Please RSVP for all webinars by emailing Charles Cohen at [email protected] Thanks!