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Berwick Academy RGI

Transcript of BA RGI collateral

  • RGI

    B e r w i c k A c a d e m yInvesting in Excellence

  • Berwick Academy, founded in 1791, is a Pre-kindergarten through Post-graduate college-preparatory

    day school dedicated to promoting virtue and useful knowledge among the rising generations. As one school with three divisions, Berwick develops balanced lead-ers through personal relationships that foster confidence and achievement. By engaging in a program distinguished by academic challenge, creative expression and performance, innovative technology, ethical sportsmanship, wellness, and a commitment to the common good, Berwick graduates become resilient citizens by living our core values of balance, engagement, excellence, and integrity.

    Berwick Academy Mission

  • [Welcome Letter Outline]

    We have a transformational, capitally efficient plan that will make dramatic improvement at Berwick:

    Over the past two years, we have developed a plan that will allow Berwick to become: More financially sustainable More accessible to families from a variety of financial circumstances Better positioned to support dedicated teachers More attractive to potential applicants

    The academics at Berwick Academy have made me a more refined person who can structure and organize complex ideas, and with those ideas realize more about my world. Because of this, I am a confident, curious person who is always seeking new knowledge, and that knowledge makes a smarter, happier world.

    - Eric Rawn 16

  • Berwick Academys greatest strength is the relationships forged between students and teachers, and the vast major-ity of our teachers are exceptional. However, faculty demographics suggest that significant numbers of teachers will retire in the next ten years. In the past, we have relied on tuition remission and geography to drive hiring success in the local area. Going forward, these tools will not be sufficient to elevate the level of our faculty on a national level. Consequently, we will improve salary levels and benefit programs to the mean levels of our benchmark group. Competitive salary and benefits will ensure our ability to attract and retain the best talent from across the country for our students. Continued emphasis on evaluations, professional development, and making diversity a priority in hiring will complement our increased level of investment in faculty compensation.

    Investing in Our Most Important AssetThe Case for Faculty Compensation

    The faculty at Berwick has had an amazing impact on my experience during my three years here. My art teacher, Mrs. Wildnauer, in particular, has been a wonderful mentor and teacher, and I value my relationship with her immensely. This relationship with Mrs. Wildnauer along with my other teachers, has been an incredibly positive influence on my academic, social, and artistic life here at BA.

    - Abby Scanlon 12

  • Each year, over $2.6 million dollars out of our $13.5 million operating budget goes towards supporting the best students in the Seacoast regardless of their ability to pay tuition. Increasing support for financial aid will also be es-sential in meeting the various student diversity goals we have as well. The budget for this is financed primarily from unrestricted funds and tuition discounting. Financial aid is a vital tool for us to be able to maintain and improve the quality of our student body.

    Investing in the Best and BrightestThe Case for Financial Aid

    Without financial aid, I would not have been able to attend Berwick and receive such a high quality education. Today, this generosity continues to inspire

    me as I advocate for the educational rights of students with disabilities and happily

    represent pro bono clients.

    - Lillian Glidden Wong 01

  • The campus is one of our greatest assets. While it presently serves our faculty and student body well, a number of improvements will be required and undertaken over the next ten years. We will construct a modern Performing Arts Center that will accommodate a desired high school enrollment of 325-375 and meet the needs of our sophisticated Arts program. When the Upper School does grow, we will renovate the inside of Fogg and/or re-purpose some of our existing spaces across campus. We know that the needs of our Office of Advancement will continue to expand, and we will renovate Oakes House to address Advancement space requirements and/or the future of our employee day care. Finally, the curb appeal of our beautiful campus trails our competitors, and we want to build our image as a source of pride to the local community. Therefore, we will complete the master landscaping plan that has been put in place for the major entrances of the school. The impact of these changes cannot be overstated from an enrollment and community morale perspective.

    $25,000-$50,000 $50,000

    $100,000-$200,000

    Investing in Our FacilityThe Case for Campus Enhancements

  • The Case for Campus Enhancements

    Investing in Operational ExcellenceThe case for financial durability

    Text

    MSP Benchmark Spending Rate Analysis

  • BERWICK ACADEMYFY 2013 - 2017

    LONG RANGE BUDGET PLANNING FINANCIAL MODELSummary Details

    Summary Model 4.xlsx Version 4

    FY 2013 FY 2014 FY 2015 FY 2016 FY 2017Scenario I (Improvements without Fundraising)

    Incremental Annual Fund Increase 100,000$ -$ -$ -$ -$ 5% Incremental Salary Pool Increase 314,628$ 314,869$ 287,829$ 333,826$ 349,636$

    Incremental Campus Investment 150,000$ 150,000$ 100,000$ 100,000$ 100,000$ Unrestricted Draw 433,889$ 463,889$ 395,000$ 590,000$ 660,000$ Debt Service details Interest only Interest only P&I (half year) P&I P&ITotal Cash & Investments @ June 30 14,615,193$ 14,417,565$ 14,269,769$ 13,921,552$ 13,485,741$

    Marketable Investments - Beginning Balance 14,650,000$ 14,515,193$ 14,317,565$ 14,169,769$ 13,821,552$ less draw (unrestricted & restricted) (689,032)$ (744,642)$ (681,756)$ (883,179)$ (960,051)$ add operating OPEX surplus 9,245$ 7,049$ 1,346$ 7,847$ 10,078$

    3.72% add investment return 544,980$ 539,965$ 532,613$ 527,115$ 514,162$ Ending Balance 14,515,193$ 14,317,565$ 14,169,769$ 13,821,552$ 13,385,741$

    FY 2013 FY 2014 FY 2015 FY 2016 FY 2017Scenario II (Treading Water)

    Incremental Annual Fund Increase 100,000$ -$ -$ -$ -$ 3% Incremental Salary Pool Increase 314,628$ 188,921$ 191,488$ 228,532$ 236,256$

    Incremental Campus Investment -$ -$ -$ -$ -$ Unrestricted Draw 283,889$ 283,889$ 200,000$ 150,000$ 90,000$ Debt Service details Interest only Interest only P&I (half year) P&I P&ITotal Cash & Investments @ June 30 14,765,193$ 14,865,686$ 15,075,008$ 15,204,006$ 15,378,162$

    Marketable Investments - Beginning Balance 14,650,000$ 14,665,193$ 14,765,686$ 14,975,008$ 15,104,006$ less draw (unrestricted & restricted) (539,032)$ (564,642)$ (486,756)$ (443,170)$ (390,051)$ add operating OPEX surplus 9,245$ 119,591$ 146,794$ 15,097$ 2,338$

    3.72% add investment return 544,980$ 545,545$ 549,284$ 557,070$ 561,869$ Ending Balance 14,665,193$ 14,765,686$ 14,975,008$ 15,104,006$ 15,278,162$

    FY 2013 FY 2014 FY 2015 FY 2016 FY 2017Scenario III (Improvements with Fundraising)

    Incremental Annual Fund Increase 600,000$ 500,000$ 500,000$ 500,000$ 500,000$ 5% Incremental Salary Pool Increase 314,628$ 314,869$ 287,829$ 333,826$ 349,636$

    Incremental Campus Investment 150,000$ 150,000$ 100,000$ 100,000$ 100,000$ Unrestricted Draw -$ -$ -$ -$ -$ Debt Service details Interest only Interest only P&I (half year) P&I P&ITotal Cash & Investments @ June 30 14,865,193$ 14,965,686$ 15,175,008$ 15,304,006$ 17,117,226$

    Marketable Investments - Beginning Balance 14,650,000$ 15,089,908$ 15,490,618$ 15,965,461$ 16,518,468$ less draw (restricted only) (255,143)$ (280,753)$ (286,756)$ (290,179)$ (300,051)$ add operating OPEX surplus 75,356$ 43,160$ 106,346$ 167,847$ 100,078$

    4.23% add investment return 619,695$ 638,303$ 655,253$ 675,339$ 698,731$ Ending Balance 15,089,908$ 15,490,618$ 15,965,461$ 16,518,468$ 17,017,226$

    $2.5 Million Impact of the Rising Generations Initiat