SSFS Closing

[Anonymous]

That SSFS did not operate as its own 501(c)(3) with an autonomous governance structure didn’t help. This sounds akin to governance in some Episcopal schools with formal parish oversight. When a board must adhere to certain composition per bylaws, essential board skills (ex, finances, fundraising, marketing, etc) do get appropriately prioritized.

Some boards get enchanted by an unprepared incoming head who they think will solve every problem. On the flip side, some incoming heads don’t get the full skinny on a school’s financial pitfalls.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

THIS! It’s field of dreams nonsense. “If you build it they will come . . .” But they don’t come. Basic Econ would say you can’t keep hiking tuition to the point only families with generational wealth can afford it (and they don’t favor schools like SSFS)

I appreciate your field of dreams analogy. They certainly won’t come if it’s geographically undoable and unfortunately SSFS is undoable for the affluent dwellers of NWDC that keep a myriad of other privates flourishing. In NWDC it’s probably a little easier to build and expect to fill the classrooms.

Good point. Even there they are squeezing out high earners who know they’ll have to pay for college w/o financial aid, don’t have resources to pay both 16 years of tuition that keeps outpacing inflation, income

[Anonymous]

Anonymous wrote: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.

Will community members ever know if this was a combination of a financial perfect storm hitting a cash-strapped school OR if someone deliberately hid the school's true financial state?

Also, why, if the school was that close to insolvency, in addition to hiring all of the new heads, why did they undertake the expensive repairs to the Performing Arts Center?

[Anonymous]

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

My understanding is that the bequest of the land came with restrictions, including that it couldn’t be subdivided or sold off. So in the end the land - which is part of why we chose the school for our son - is what will sink it.

[Anonymous]

Too bad. Some of these schools sit on big acreage, much of which may not get fully used in even best of circumstances. This could’ve been a creative revenue solution for SSFS. Some schools leverage land/facilities/fields for rentals and bring in great revenue that way.

[Anonymous]

Anonymous wrote:Too bad. Some of these schools sit on big acreage, much of which may not get fully used in even best of circumstances. This could’ve been a creative revenue solution for SSFS. Some schools leverage land/facilities/fields for rentals and bring in great revenue that way.

I’m an administrator at a school with a similar campus, and the idea of monetization comes up constantly. In reality, we are lucky to get a few hours of rental on weekends from a heritage language school and field rentals end up costing more in terms of employees to open/close gates and insurance than the income they bring in.

Parents look at our land and assume it’s a cash cow, but unless you’re in the middle of a city, land is a neutral asset and costs a lot in security and insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote: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.

Will community members ever know if this was a combination of a financial perfect storm hitting a cash-strapped school OR if someone deliberately hid the school's true financial state?

Also, why, if the school was that close to insolvency, in addition to hiring all of the new heads, why did they undertake the expensive repairs to the Performing Arts Center?

Why did the PAC and athletic center require repairs/ renovation? Those are both relatively new buildings built to the latest standards and technology

[Anonymous]

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

[Anonymous]

This is just a tragic situation for these kids. Some kids deal well with change and instability, some don't. My husband and I know students who transferred during high school from public and private schools to both Barrie and Burke and felt overwhelmed with how welcomed they were by the communities. I know how hard this will be for students who are close to finishing at SSFS, but just know there are caring environments that will help them transition to a new school while honoring the unique gifts they bring.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

There is a market for a leaner private school without all the bells and whistles, but it has to have lower tuition to match. This is like the new car manufacturers who are all chasing the most affluent purchasers, new cars languishing on lots, while ignoring the upper middle class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

There is a market for a leaner private school without all the bells and whistles, but it has to have lower tuition to match. This is like the new car manufacturers who are all chasing the most affluent purchasers, new cars languishing on lots, while ignoring the upper middle class.

I'm really curious what that market is. Who wants to send their kids to a school that doesn't have certain amenities. What if they don't offer extracurriculars? What if there are no AP classes? What would that look like? Who is out there saying I'll pay more than public to send my kid to a private school that has way fewer amenities than the public school?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

There is a market for a leaner private school without all the bells and whistles, but it has to have lower tuition to match. This is like the new car manufacturers who are all chasing the most affluent purchasers, new cars languishing on lots, while ignoring the upper middle class.

I'm really curious what that market is. Who wants to send their kids to a school that doesn't have certain amenities. What if they don't offer extracurriculars? What if there are no AP classes? What would that look like? Who is out there saying I'll pay more than public to send my kid to a private school that has way fewer amenities than the public school?

Agree with this. The only no-bells-and-whistles schools seem to be really specific programs with either 1:1 learning or for kids with neurodivergence or specific learning needs. I don’t see the general population clamoring to pay tuition, however small, to get less than they would get at even their mediocre zoned public school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

There is a market for a leaner private school without all the bells and whistles, but it has to have lower tuition to match. This is like the new car manufacturers who are all chasing the most affluent purchasers, new cars languishing on lots, while ignoring the upper middle class.

I'm really curious what that market is. Who wants to send their kids to a school that doesn't have certain amenities. What if they don't offer extracurriculars? What if there are no AP classes? What would that look like? Who is out there saying I'll pay more than public to send my kid to a private school that has way fewer amenities than the public school?

Catholics are saying that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Responding as an independent school administrator. Many independent schools enter an “arms race” to ramp up facilities and renovate — to stay competitive and attractive in the market. Boards make decisions to borrow money for costly projects w/o much strategy to generate revenue beyond tuition. This can happen when a campaign won’t be able to meet its goal. Philanthropy is a critical piece of how independent schools achieve long term sustainability.

With 140 acres, was there talk of ever selling some land to right size?

Also an administrator and it’s scary to see what’s going on at SSFS…and at my former colleagues’ schools up and down the East coast. We see philanthropy concentrating itself at schools that are already stable, and families coming to our school are just not willing to donate at a level that covers the true cost of educating their student, so forget major gifts. But meanwhile they are demanding all the things- arts programs as broad as those in public schools, extensive sports facilities, multiple languages regardless of class size, etc.

There will be a few schools untouched by this climate- the Sidwells, NCSs, etc. The rest of us are going to blow ourselves up no matter what we do. It sounds fatalistic but that’s how I feel. I can’t reconcile what parents expect vs. what we have the funds to offer. Either we’ll fail because enrollment declines when everyone jumps ship for more bells and whistles, or we’ll fail because we spend money we don’t have on more bells and whistles.

There is a market for a leaner private school without all the bells and whistles, but it has to have lower tuition to match. This is like the new car manufacturers who are all chasing the most affluent purchasers, new cars languishing on lots, while ignoring the upper middle class.

I'm really curious what that market is. Who wants to send their kids to a school that doesn't have certain amenities. What if they don't offer extracurriculars? What if there are no AP classes? What would that look like? Who is out there saying I'll pay more than public to send my kid to a private school that has way fewer amenities than the public school?

Agree with this. The only no-bells-and-whistles schools seem to be really specific programs with either 1:1 learning or for kids with neurodivergence or specific learning needs. I don’t see the general population clamoring to pay tuition, however small, to get less than they would get at even their mediocre zoned public school.

Not a big market, but it’s there. Some avoid public school not to surround their kids in the fanciest of privilege but to be part of a smaller, intentional community that shares values and has an environment where their kids can be well. Standardized testing, big size, anonymity are just a few aspects of large public schools that can be downsides for some kids.

[Anonymous]

Your kid’s school doesn’t have to be absolutely everything, but it should be an environment for them. You live in an area where their interests can be met easily outside of school as needed.