SSFS Closing

[Anonymous]

Who is behind this worthy effort?

[Anonymous]

There has been much talk that all these schools are just one bad year of enrollment from closing doors. Sure …. But we don’t read everyday that schools are closing? Why did ssfs enrollment tank? Open your eyes. Last year they had 80 students leave! Why? Another posted the summer 2024 trustees letter where the top reasons cited by the exit interviews of the families leaving as “unsustainable increase in tuition, culture shift, a misalignment with their family values”. Families stopped getting what they were paying for and left in droves. Everything that followed is a result of the school not delivering the product. And that’s on one person. Look at the facts.

[Anonymous]

FRIENDS OF SSFS: Join the Coalition

https://docs.google.com/forms/d/e/1FAIpQLSeGcMj7TwE0wjzHBO_FqiFLK58hy4Fz05u7R0TH9eOoftQWDA/viewform?pli=1

[Anonymous]

Anonymous wrote:There has been much talk that all these schools are just one bad year of enrollment from closing doors. Sure …. But we don’t read everyday that schools are closing? Why did ssfs enrollment tank? Open your eyes. Last year they had 80 students leave! Why? Another posted the summer 2024 trustees letter where the top reasons cited by the exit interviews of the families leaving as “unsustainable increase in tuition, culture shift, a misalignment with their family values”. Families stopped getting what they were paying for and left in droves. Everything that followed is a result of the school not delivering the product. And that’s on one person. Look at the facts.

Facts are not one person but one group. Board. Over a long time.

[Anonymous]

Anonymous wrote:FRIENDS OF SSFS: Join the Coalition

https://docs.google.com/forms/d/e/1FAIpQLSeGcMj7TwE0wjzHBO_FqiFLK58hy4Fz05u7R0TH9eOoftQWDA/viewform?pli=1

What is the specific goal of the coalition?

[Anonymous]

Two things can be true at the same time. (1) It is a tough time for all independent schools in terms of upward cost pressures, more families affected by Fed (and Fed adjacent) turmoil. (2) Couple that with poor management (financial and/or alienating a significant enough number of families at the school) and that’s the end.

But the schools that keep an eye on the numbers and continue to deliver value to their community should be ok. Parents should also do their due diligence and review form 990s, etc.

[Anonymous]

So poor leadership/BOT stewardship + Rodney. Yup.

[Anonymous]

Anonymous wrote:So poor leadership/BOT stewardship + Rodney. Yup.

There have been two heads of school since he left. And in this one year since he left the enrollment and finances dropped for next year to the point the school decided to close. A series of poor decision making since he left. Look at this year alone to see that. Including the decision to hire another head of school, hire several new administrators, enroll families, and close without warning. The school has been a financial mess for decades.

[Anonymous]

One of the main responsibilities of a BOT is ensuring financial stability and long-term success of School. They set and approve tuition as well as any loans the school takes on. For this school, its bylaws required like 8 or so seats on the BOT be from the meeting house, a lovely group of seniors citizens but query whether these volunteers are the right financial wizards to govern a school.

[Anonymous]

Anonymous wrote:One of the main responsibilities of a BOT is ensuring financial stability and long-term success of School. They set and approve tuition as well as any loans the school takes on. For this school, its bylaws required like 8 or so seats on the BOT be from the meeting house, a lovely group of seniors citizens but query whether these volunteers are the right financial wizards to govern a school.

Thank you, this made me chuckle, friend.

[Anonymous]

Anonymous wrote:One of the main responsibilities of a BOT is ensuring financial stability and long-term success of School. They set and approve tuition as well as any loans the school takes on. For this school, its bylaws required like 8 or so seats on the BOT be from the meeting house, a lovely group of seniors citizens but query whether these volunteers are the right financial wizards to govern a school.

How many seats, though? A big board can work really well. Room for long term culture, but you make your committees with the expertise needed and they do the heavy lifting.

[Anonymous]

Anonymous wrote:One of the main responsibilities of a BOT is ensuring financial stability and long-term success of School. They set and approve tuition as well as any loans the school takes on. For this school, its bylaws required like 8 or so seats on the BOT be from the meeting house, a lovely group of seniors citizens but query whether these volunteers are the right financial wizards to govern a school.

The Meeting is not the Friends House (retirement home) adjacent to the school. The Meeting is full of people of all ages with an array of skills. Trustees from the Meeting have varied in age.

[Anonymous]

Anonymous wrote:One of the main responsibilities of a BOT is ensuring financial stability and long-term success of School. They set and approve tuition as well as any loans the school takes on. For this school, its bylaws required like 8 or so seats on the BOT be from the meeting house, a lovely group of seniors citizens but query whether these volunteers are the right financial wizards to govern a school.

100%. This has always been a dilemma at SSFS

[Anonymous]

Lots of independent school boards engage in magical thinking.

[Anonymous]

Is a Cash Flow/Debt Service Ratio of 1.60 considered good for an independent school? (that was listed in a SSFS financial forecast document from the 2023/2024 school year, with previous years at 2.13 to 1.0) I'm trying to understand what could have happened.