AffordabilityCoP1-14-14 - Partnership for Excellence in Jewish

Report
TUESDAY, JANUARY 14, 2014
ALTERNATIVE REVENUE STREAMS
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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]
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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!

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