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TUESDAY, JANUARY 14, 2014
ALTERNATIVE REVENUE STREAMS
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ETIQUETTE& LEARNING MORE ABOUT ADOBE CONNECT
PEJE’s Recruitment & Retention Academy• May 18-20, 2014• Chicago, IL• Space is Limited• To learn more and to apply
please visit the PEJE website: www.peje.org/recruitment/
• Email Elana Alfred at elana@peje.org or call 617-367-0001 x155 for any questions.
APPLY NOW!
MEET OUR GUESTS
Nick StonemanPresident,
Shattuck-St. Mary’s School
Ray LeviHead of School
Emeritus, Heilicher Minneapolis Jewish
Day School
Achieving Financial Sustainability through Asset
Optimization
Independent School Revenue
Tuition
Endowment
Annual
Giving
Alternative
Revenue
Revenue Sources
Threats to Revenue Sources
Student attrition Increased competition Faculty departures Inadequate facilities Drop in giving “Falling behind” market perception Lack of revenue diversification Weak endowment returns
A Different Approach to Independent School Revenue
Preserve the base AND expand revenue sources
Asset Optimizing
• Faculty Engagement
• Student Retention
• Enrollment Growth
• Facility Expansion
• Endowment Growth
• Program Enhancement
• Alternative Revenue
Revenue Expansion
Revenue Source Preservation
New Initiatives
What are these Assets?The Building Blocks
The Physical Faculty and Staff Brand Recognition External Relationships Geography and Region (+/-) Programs Offered
Essentials for Asset Optimization No silos allowed Leadership team must:
Model integrative thinking See change as normal Believe in the power of imagination Must see the dots to connect the dots
Head of School must be comfortable not being the expert
Board must support innovative thinking
Optimizing through Intertwining
Brand
External
Internal
Location
Physical
Program
• Increased Enrollment• Faculty Retention• Increased Giving• Facility Growth• Program Growth• Student Retention• Alternative Revenue
Scrabble as a Management Tool
BrandExternal InternalLocation Facilities ProgramExternal
External BrandBrand
LocationLocation
InternalInternal
FacilitiesFacilities
ProgramProgram
NEW OFFERING
Increases Enrollment
Using Assets to DevelopAlternative Revenue
External Relations
Brand
Physical
Faculty and Staff
Alternative Revenue
Programs
Geography and Region
1
-
50,000
100,000
150,000
200,000
250,000
300,000 Ice Arena Rentals
SSM Elite Hockey Camp
Pro Development Hockey Camp
Korean Elementary Camp
Figure Skating Camp
ESL Institute
Dome Rental
School Store
St. James Campus Net
Sabre Café
Vending Machines
Other Summer Camps
Boy's Prospects Tournaments
Sponsorship Program
Soccer Academy
Girl's Prospects Tournaments
STEM Academy
Weddings
YMCA Camp
Skating Academy
Ropes Course
Alt Rev Distribution PlottingFeasibility
$ $$$
Low
High
International Campus
Educational Tech Co
On-Line Academy
ELL Web App
Charter School Rentals
Golf Course
Tournaments
Cafe
Land Development
Bagel Sales
ESL On-Line
AP Weekends
Elder Hostels
Wind Farm
ESL Institute
Camps
Film Production
EB5 Regional Center
Inn/Banquet Facility
Supplemental Sources of Income
$1mm of net SSI revenue = $25 mm of Endowment + -
Faculty additional compensation
Wear and tear on Facilities
Not as exposed to market trends
Not on Balance Sheet
Leverages what you have Requires teamwork and innovation
Program expansion Sustainability
Faculty professional growth Must earn each year
Balance to admissions swings AND can create a recruitment pool
Facility growth
Using Assets to DevelopCenters of Excellence
External Relations
Brand
Physical
Faculty and Staff
Centers of Excellence
Programs
Geography and Region
Center of Excellence
A program aspiring to be nationally recognized in the arts, athletics, or academics.
“Admissions Magnet”Sits alongside a School’s core program
Creating a Center of Excellence
Six essential elements: Leadership Program design Marketing Merit Aid as seed Facilities Outcomes
Assets at Work – Pre-Conserv CoE
Elite Violinist Faculty Member
Elite Instructors in
Region
Parent -Exec Dir of St Paul
Chamber Orch
Global Ed Program
Pre-Conservatory Center of
Excellence
Concert Hall Facility
External Relations
Brand
Physical
Faculty and Staff
Geography and Region
Assets at Work – Bio-Science CoE
Staff member
married to Hospital
CEO
Medical Alley location
Significant # of
medical field
alumniInnovative Reputation
Bio-Science Center of
Excellence
STEM Center
External Relations
Brand
Physical
Faculty and Staff
Geography and Region
Assets at Work–Campus Expansion
Unique involvement of students, faculty and
Board
Located in the U.S.
Global Alumni and
Parent Network
Alternative Revenue
Reputation
Campus Expansion
Global Ed Program
External Relations
Brand
Program
Faculty and Staff
Geography and Region
Assets at Work – Blended Learning
School community’s commitment to innovation
Technologically advanced
Public Schools
Foundation Support
Experienced in Distance Learning
Blended Learning
IT Backbone
and Bandwidth
External Relations
Program
Physical
Faculty and Staff
Geography and Region
Blended Learning at Shattuck-St. Mary’s School
2009 2010 2011 2012 20130
50
100
150
200
250
Number of CoursesNumber of FacultyStudents EnrolledBlended Pilot Students
Asset Optimization: Team Effort
Head of
School
Board
Advance-ment
CFO
Acad Dean
Athltic
Dirctr
Admis-sions
Faculty and/or Staff
Parents
Soccer √ √ √ √ √ √ √ √
Golf √ √ √ √ √ √ √
Bio-Science √ √ √ √ √ √
Pre-Conserv √ √ √ √ √ √
Campus Expansion √ √ √ √ √ √ √
weCreate √ √ √ √ √ √ √
Blended Learning √ √ √ √ √ √
Asset Optimization: Asset Usage Summary
Facilities
Region and
Geography
Faculty,Staff
External Relation
sBrand Progra
m
Soccer √ √ √ √ √
Golf √ √ √ √ √ √
Bio-Science √ √ √ √
Pre-Conserv √ √ √ √
Campus Expansion √ √ √ √ √ √
weCreate √ √ √ √
Blended Learning √ √ √ √ √
Asset Optimization: The Complete Impact
Alternative
Revenue
Student Retenti
on
FacultyRetenti
on
Facility Growth
Program
Growth
Admission
Alumni Cultivati
on
Soccer
Golf
Pre-Conserv
Bio-Science
Campus Expansion
weCreate
Blended Learning
High Medium
Low
Asset Optimization:The Impact at SSM
2003-04 2013-14
Net Revenue ($1,800,000)
$425,000
Annual Fund $650,000
$900,000
Enrollment 290 450
Endowment $8,000,000
$24,500,000
Net Asset Value $13,000,000
$37,000,000
THANK YOU TO OUR GUESTS!
Nick StonemanPresident, Shattuck-St.
Mary’s SchoolNick.stoneman@s-sm.org
Ray LeviHead of School Emeritus,
Heilicher Minneapolis Jewish Day School Rlevi@hmjds.org
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NEXT STEPS: CONTINUING THE CONVERSATION
How to Use Data to Construct Your Affordability StrategyThursday, February 13, 2014, 1 pm ESTMiriam Prum Hess, Director, Center for Excellence in Day School Education, BJE-LA
Branding Your School for Distinctiveness and SuccessThursday, March 20, 2014, 1 pm ESTLaura Sheridan
Please RSVP for all webinars by emailing Charles Cohen at charles@peje.org
NEXT STEPS:UPCOMING CALLS
Thanks!
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