SSFS Closing

[Anonymous]

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Anonymous wrote:This is from August message from BOT:

It is important to share with you that SSFS is facing some financial challenges, and the board is working on several strategic questions related to:
the declining boarding program;
unfulfilled pledges to our last Capital Campaign (Light the Way, meant to support the Upper School Building); and,
significant repair and maintenance needed in our Performing Arts and Athletic Centers.

I’m not aware (outside of this board) of the acrimony with the former HoS, but I suspect that someone would be well within their rights to not fulfill a pledge if they felt like the mission/direction/leadership of the school deviated from when the pledge was made. It may be (and is) sh*tty, but it happens all the time with universities, schools and other not for profits.

Institutions are typically hot to trot for pledges because they can publicize it and the fundraisers often get credit at the time of the pledge. From my experience, it’s often presented as “the pledge is good for the institution but it doesn’t really bind you to anything, so we’d appreciate it if you would agree. And if something comes up, no obligation.”

I wouldn’t make a pledge that I didn’t intend to fulfill, but I’ve seen the “bindingness” to be grossly undersold to try to get the signature.

These pledges were lapsed under Tom Gibian whose campaign it was and was supposed to be done before change of heads. They were already behind when the HOS changed. The lapses were discovered under RG, not created under RG.

Okay (again to RG cheerleader) let’s say the lapse was discovered under RG- before construction begun - which did occur UNDER RG. What stopped RG who was the leadership to say “hey so it looks like we haven’t received these pledges, we should hit the pause button till we do”? You’re saying RG was forced to continue down a bad path set by TG cause he was powerless to do the right thing for the school as its new head?

The building was finished before RG even got there. It opened to students under RG when they returned from the pandemic. Not an RG cheerleader. I just like facts.

+1. It also true that some pledges undertaken with TG were to be paid in subsequent years while Rodney was head. Not sure if this affected people not fulfilling them but it’s not unreasonable to wonder.

The lapsed pledges had a lot to do with the disorganization and mismanagement of the director of advancement who ran the campaign. Poorly.

So the onus is on the school to collect pledges that people committed to? How absurd. People should really be ashamed of themselves for pledging and knowing they had no intention of paying. People get all fancy pants, drinking wine at school events, and then realize they are in no position to be committing to that money. Shame.

Every private school I can think of has built new buildings in the last 10 years. None have had to shut their doors due to pledge issues. This is financial mismanagement on behalf of the board. They made the decision to move forward based on the money in hand and the pledged amounts. They took the risk.

All but those with biggest endowments, richest families have been dancing at the edge of financial insolvency.

Really? This doesn't ring true to me but first Feynman and now SSFS. It's extremely concerning.

NP, it’s true. It is the talk among independent school circles and at conferences. Consultants are making a lot of money now off of schools trying to find a way through.

Independent schools and small liberal arts colleges. I wouldn't say it makes me a lot of money, but I have plenty of work, and turn down potential clients every other month because my schedule is full. I'm actually taking less work from schools and colleges because honestly it's depressing at this point. Not that the nonprofit sector on the whole is particularly healthy given the current economic climate. I suspect we'll see an acceleration in school and college closures, and an onslaught on nonprofits shutting down, especially small ones and those reliant on government funding.

[Anonymous]

Anonymous wrote:It’s philanthropy that has built so many of these schools over time. Doesn’t sound like the advancement arm of SSFS was too sophisticated.

Who managed the advancement department for the past few years?

[Anonymous]

Anonymous wrote:How are families finding out about the coalition? Many families of older students aren’t so connected to other parents. I had no idea until discovering this thread today. Current family and alumni family. Just mentioning in case the organizers aim to reach every current family, at least.

Email your grade rep. They will be able to send you the form.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did anyone posting here go to the BOT meetings? Lots of rubber stampers serve on boards. It may be unfair to assume everyone on BOT supported the excess spending.

Plus I bet almost everyone in school community wanted the new high school. Did anyone speak against it?

Everyone wants a new high school. No one wants to pay for it.

The school had never indicated they were going into debt for this High school. No one would say “yes build it and go bankrupt!” If they knew that was the cost. When we toured the school in 2018 before enrolling we were told about the “amazing new US building that was being paid without tapping into school families already maxxed out by the tuition. How TG was able to get funding without burdening families further” we thought that was great. We did not know that was a lie.

[Anonymous]

Any independent without a robust endowment and very wealthy families is risking bankruptcy with any big capital project. They’re betting that everything will go just right, costs won’t overrun, pledges will come through and that the project will juice enrollment.

Ever notice wealthy families leaving after a big capital push at a not well endowed school? The school has gone back time and again asking to be bailed out of their bad planning. They use the wealth families like a piggy bank and eventually it’s obvious.

[Anonymous]

*to the wealthy families how badly they are being used

[Anonymous]

Retired head of school here. Plenty of schools are well-insulated and will keep thriving. Key markers: endowment, loyal alumni giving, high-functioning board, competent leadership, market niche, and positive learning outcomes.

There are other SSFS’s out there coping with same challenges. Head turnover due to dysfunctional boards, unpreparedness, and obstacles beyond one’s capacity. Unless a school draws from endowment, business model typically relies on 10-20% annual fundraising on top of tuition to meet budget.

This school simply could not afford its projects and program — and its head and board sounded unprepared to problem-solve to create a solvent and durable fixture.

The RG years should’ve centered on SSFS’s financial heath, fundraising, marketing, and retention of students/adults.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Slight disagreement: inherited wealth families want it. Families in financial aid want it. The full pay but it hurts families don’t want it bc they know tuition will go up to pay for it

And the financial aid but it hurts families? Where do we fit in your characterization? You don't think financial aid families worry about tuition increases every year? You think financial aid families are privileged? Maybe some are, I don't know honestly. But I do know this financial aid recipient had their utilities cut off twice last year. I'm not complaining. I choose to spend every cent of my hard earned money on tuition--I am a PROUD SSFS parent, but your comment is mischaracterization of most financial aid families.

Not being rude but if it comes down to paying for a private vs. utilities, utilities come first.

[Anonymous]

I think SSFS should’ve given you more financial aid!

[Anonymous]

Is it serving our kids to send them to a great private school if it puts us in the brink of bankruptcy? The school isn’t gonna give you your money back when you lose your job or have a medical emergency or your car breaks down. What happens when adult kids are trying to raise their own kids and support their aging parents who haven’t planned financially for old age? Not blaming anyone. It’s a hard choice. Given a big picture choice, would most rather go to public school and not have to worry about supporting kids and aging parents at the same time?

[Anonymous]

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Anonymous wrote:I am not surprised they are closing. I was there for a tour in January on one of the coldest days of the winter and there was no heat in the gym. I know this because the children were wearing their winter coats inside during PE (which seemed odd), so I asked why, and was told there was an HVAC issue and they weren't sure when they would be able to fix it. There was also no heat in a dormitory (not sure if there's more than one). That was a huge red flag to me.

Wow, that is shocking!

I’m sorry that the no-heat day was tour day, but I’m not sure it is shocking. My kid came home and was like “heat broke today. It was cold. What’s for dinner?” Equipment breaks and someone has to come fix it.

Now, the board shutting the school is shocking. I’m still gobsmacked and really sad.

Don’t take this the wrong way but if your kid coming home saying heat broke (which wasn’t just a 1 day thing, plus the pac was already broke etc) at your 40K tuition school, admins are leaving left and right, CFO is getting and you’re still gobsmacked when it turns out the school was collapsing … maybe you need to ask why nothing was raising red flags for you.

Again not at all trying to be mean but we felt something was up and were one of the 80 families who left the year before. I didn’t think in a million years that the school was in such bad shape that it would close but I sensed something was wrong and am not gobsmacked. Sad and angry but not surprised.

If 80 families left and those weren't graduating seniors huge red flag. Sounds like the only way to make this work would be a complete overhaul with new board, new head and new administrators who can do right by the school but that's rare to find folks who actually will.

80 is the rough difference of total enrollment start of 23-24 (around 690) and 24-25 (around 615). Not seniors who were replaced by juniors.

These ppl did not leave because of the US. Or because they realized how much debt the school was because of it. They left because the school wasn’t providing the education they were paying for.

Obviously not everyone’s experience. But enough people were having a bad experience.

Without the financial gamble on the US, SSFS would have had some capacity to withstand a drop in enrollment.

[Anonymous]

Anonymous wrote:I think SSFS should’ve given you more financial aid!

Aid they couldn’t afford to give? Not sure why anyone would choose a private school by going into debt and unable to pay for utilities. It’s not worth that much

[Anonymous]

Anonymous wrote:Retired head of school here. Plenty of schools are well-insulated and will keep thriving. Key markers: endowment, loyal alumni giving, high-functioning board, competent leadership, market niche, and positive learning outcomes.

There are other SSFS’s out there coping with same challenges. Head turnover due to dysfunctional boards, unpreparedness, and obstacles beyond one’s capacity. Unless a school draws from endowment, business model typically relies on 10-20% annual fundraising on top of tuition to meet budget.

This school simply could not afford its projects and program — and its head and board sounded unprepared to problem-solve to create a solvent and durable fixture.

The RG years should’ve centered on SSFS’s financial heath, fundraising, marketing, and retention of students/adults.

Sounds like by the time the RG years came along the school had already built too many buildings on debts they couldn't pay.

[Anonymous]

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Anonymous wrote:Please look at the facts:
- SSFS breaks ground on new Upper School building November 12, 2018
https://www.ssfs.org/cf_enotify/view.cfm?n=1646
- Covid begins March 2020
- RG began as HOS July 1, 2020 (during covid)
- Upper School building completed and began usage March 2021

All the bulk of construction was summer 2020 thru spring 2021
The groundbreaking was barely a shovel. Cause I was walking around in fall 2019 and right before Covid and the whole plot was still covered in grass.

At the end of the day it was never stopped or paused by anyone who was in admin when clearly they didn’t have the funds

If the building was opened March 2021, then in summer 2020 they had already invested a lot of borrowed money. Backing out at that point didn't make sense.

RG may have caused a lot of problems, but you can't blame him for the new building.

And so you can never back out. I guess that’s why inspite of being in debt they should have taken on the roof repairs and pac repairs - cause you know why stop?

We should all continue buying new cars and houses cause once in debt why back out?

What RG owns is alienating families to the point that last year lost 80+. Or do you say they all left because they hated the new building?

As far as how many donors pulled back because of RG we will never know. Interesting how the 500K to Renovate the LS came right after RG left. Amazing.

The enrollment dropped significantly again for next year, which is one of the major factors in the decision to close. RG wasn't there at all this year. So why did so many families leave this year?

[Anonymous]

From the Friends of SSFS Coalition’s latest email:
“The donor commitments over the past 48 hours have been remarkable. We have $9M+ in pledges, which has given our primary angel donor the confidence to guarantee the money up front to keep the school open for the next three years. Our long-term goal is to set up an endowment so that nothing like this can happen again.”

You can sign up at the link below (making any sort of pledge) to get further updates or contribute your time or talents.

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