Rationales:
- To ensure the school’s financial independence, solvency, sustainability, and growth
- To ensure that Westerly School remains financially accessible to current and prospective families
- To support the enhancement of curricular and co-curricular programs
- To sustain Westerly’s commitment to diversity, equity, and inclusivity
Action Steps:
- Ensure development initiatives adhere to current best practices and align with the vision of the Board and the Head of School
- Research and assess tuition and financial assistance models
- Continue to maintain a responsible debt management strategy
- Explore and pursue alternative revenue streams and fundraising opportunities across stakeholder groups
- Develop a robust and innovative admissions and marketing plan
Progress as of June 2022:
- FA continues to follow a sustainable model under 22%
- Finance Committee has completed tuition modeling assessment
- Have begun research on partnering with Consultant to complete Financial, enrollment, and marketing Plans
- Have begun to explore refinance options and partnerships for the East West Bank mortgage
- As of 2021-22, exceeded Annual Fund projected budget
- Added a fund-an-item auction goal which raised $63,250 revenue toward Bizjack Arts Village Modernization
- Reviewing staffing needs to best support Advancement Initiatives including major giving, Annual Fund, Auction, donor cultivation