Where we are:
Over the past week, we have continued the dialogue with an emphasis on reconciling the financial feasibility of our school with our educational philosophy. Although we had initially settled on a full scholarship for all members of our student body, in recent discussions we have begun to consider opening room and boarding fees to be payable based on each family's financial situation. We do want to maintain free tuition for all students to ensure a level playing field and eliminate any sense of hierarchy in the student body. We believe this will greatly benefit the social and academic dynamic of our school. Our group has synthesized the pertinent information for students and parents of applicants to Virginia EdCo in the form of a flyer. The flyer includes our Mission Statement, a section describing the main features and facilities of our campus, the core principles of our curriculum, a Q&A section, admissions policies, our natural education programs, flat figures (by the numbers- student-teacher ratio, size, etc.), and our mentorship opportunities.
Notes on my meeting with Keith Huyssoon if they interest anyone, some financial obstacles...Feel free to comment with questions and I will gladly clarify.
tiered tuition 1,000 5,000
Fundraising - annual funding, appeal to all families (average gift recommended)
Endowment-invested for the long term, corpus principle, lead donors
Expenses by Type: Total Cost approx. 30 million
Financial Aid 12.5%
Facilities/Operations 11.9%
Instructional 7.8%
Administrative 4.95%
Salaries/Benefits 62.9%
Poly Upper School: 55 faculty/admin. to 375 students includes performing arts, outdoor education, not athletics
market startup
donors, blend endowment supports 10% cost of school, annual fund 10% cost of school, 80% charge tuition, find donors, build endowment
10 people about ..
Outdoor educational programs, athletics, and arts psychologists, support,
credentials
60,000-90,000
Facilities and operations,
8-10 adults with broad skills, backed by one leader, professor, possible tuition cost if we admitted 6/7 students per grade, about 25 students in high school after 4 years, $65,000, 75-90,000 each or if you have zero to start $150,000, graduate students + 25,000 additional annually for outsourced, facilities leased from university???
210,000 + if university supports program, 30,000/year professors x 3 professors, 2 admin at 80,000, 100,000 additional costs,
350,000 (6 students) with significant support university, and professors
500,000 annual cost (25 students) → 20,000 tuition to fully cover WITHOUT any initial funds
coming in…
seed money up front, donors, transition costs, stability, fundraise
Theoretical endowments:
10 million dollars at 5% 500,000 year
2 million dollars, invest at 5%
Where we are going:
In the coming weeks, we will structure the daily schedule within the parameters of our educational philosophy. We will also write and outline course descriptions, and specify the extracurricular opportunities available to our students.
How we will get there:
We will continue collaborating and communicating via the GoogleDoc. Our editing process entailing an email chain has been rather successful thus far, and we intend to continue implementing this method.
I think the flyer is an important item to put out there. It gives the prospective students and parents a visually pleasing glance into the school. Our group is working on a similar idea.
ReplyDeleteWe, too, have found it useful to begin thinking about daily scheduling. Once that process begins, a lot of things start to fall into place. Outlining course descriptions sounds like an idea that we may be interested in.