View as web page

Headlines

School Finances Q&A

The October PFA general meeting was canceled out of respect for Empty the Lot Day. The meeting topic would have been school finances, so PFA president Marie Godbey and PFA volunteer coordinator Heidi Owens sent these questions about the school’s endowment, tuition, and more.

How is our endowment doing?

Lark: Thanks to generous charitable gifts received last year, we were able to draw down less from the endowment than we have in previous years. Preserving our endowment and proceeding conservatively has been a real advantage for Catlin Gabel.

At the worst point in the recession, our endowment was down 34 percent. We made up important ground during the summer. The endowment currently stands at a respectable
$18.9 million, and we are optimistic overall. However, if we depend on endowment earnings alone to return the endowment principal to where it stood two years ago, it would take seven to eight years. The quickest way to get the endowment back on track is through new contributions.

How will the school fill the gap in financial aid dollars when Rummage is gone?

Miranda Wellman ’91, development director: We are considering several ideas for replacing Rummage revenue—at a much lower cost to the school—and have a task force of trustees helping us analyze the best options. In addition to the 12,000 volunteer hours required to hold the Rummage Sale, development staff members work many hours supporting the event. Those staff resources will be freed up to focus on an event with a higher return for Catlin Gabel’s financial aid program.

Fortunately, we have until 2011 before our new idea has to generate income. This spring we plan to announce our revenue replacement plan. On a related note, some families have told me that shopping and volunteering at Rummage provides a way for them to support financial aid in a meaningful way even though they cannot “write big checks.” I want to remind everyone that supporting our community fund — the Annual Fund — directly supports financial aid. Gifts to the Annual Fund range from $5 to several thousand dollars and support the immediate needs of the school. Certainly, financial aid is a top need every year. As for volunteering, there are many existing opportunities at the school, and in January a community task force will launch to brainstorm new volunteer opportunities. We're collecting some ideas in an online forum. Everyone is welcome to get involved!

What is the best guess on tuition increases?

John Gilleland, board of trustees co-chair: Within our annual process, it is too early to give a prediction on any change in tuition for the 2010-11 school year. The end of January is when Catlin Gabel determines the tuition rate for the following school year. In December, the finance committee of the board meets with Lark and Theresa Long, director of finance and operations, to project the tuition figure and the rate of increase. We aim for a tuition rate that will respect the needs of our families while providing an appropriate amount of operating funds. In January, the board of trustees reviews the tuition figure and either accepts it or suggests an alternative.

Last January as we considered the tuition increase we took into account the flagging economy, while at the same time we considered our increased financial aid needs and our commitment to fairly compensating our dedicated teachers and staff members. Keep in mind that our biggest expense is people. After thoughtful discussion and deep reflection, we agreed to increase tuition by 3 percent, which was less than our recent historical increases of 4 to 5-1/4 percent.

Any movement on the capital campaign for the arts center?

Lark: We have raised enough money to fund the design process and get plans ready for construction. However, we are still searching for an arts lover to champion this project. Our community needs a lead gift to launch this $7.5 million arts center for Middle and Upper School students.

Creating a new arts center is rooted in our curricular needs, so this is not about adding unnecessary square footage. That makes the project attractive to potential donors. Yet, we also know that until the economy rebounds, families will have a difficult time making big capital commitments. We are going to keep talking about the importance of the arts center and the opportunities to support it.

What is the goal for the Annual Fund this year?

Stuart Ellis, Annual Fund co-chair: This year our goal is $890,000. Two years ago, the board set an aggressive Annual Fund goal that was 5 percent over the previous year. Last year, given the economy, the board decided to keep the goal flat, so $890,000 is the goal for the second consecutive year.

We are lucky that 35 amazing parent volunteers have stepped up to lead the Annual Fund effort. They understand that what Catlin Gabel can offer in the classroom depends on the success of the Annual Fund. These volunteers have already started calling to remind parents and donors to pledge and contribute early. Early commitment helps the school make budgeting decisions for the year and reduces the number of calls we must make to reach our goal.

What do Annual Fund dollars cover?

Becky Ellis, Annual Fund co-chair: All that Catlin Gabel provides for our children, and that we value so much, costs about $2,200 more per student than tuition covers. The gap is filled through Annual Fund donations. Each student benefits from the Annual Fund. That’s why it is important that every family give at whatever level they can. Everyone gives, everyone receives. The Annual Fund supports exceptional teachers and small class sizes, and all of our extraordinary programs such as music, art, PE, languages, college counseling, field trips, science labs, outdoor education, and libraries.

How has the school tightened its belt?

Lark: Every department and division reduced its budget for this year, some by 30 percent. We decreased staffing by more than 7 FTEs, mostly by combining jobs and not replacing teachers and staff members who were moving on. We reduced publications expenses, delayed about $100,000 in technology equipment purchases, postponed furniture and equipment acquisitions, and maintained the benefits package at last year’s rate due to a very low premium increase that was shared between the school and employees. The fact that the school was able to maintain enrollment at 728 students through aggressive financial aid support and incredible community loyalty meant we did not have to compromise our curriculum or programs this year. I am grateful for the commitment of our parents!

Congrats!

Read about poetry, chess, science awards, and more.

Eagles athletes rip it up

Read about the fall season and what lies ahead.

Do you have a hard time describing Catlin Gabel to your friends, neighbors, and colleagues? Tell them to come see for themselves!

Admission open house events are scheduled for Sunday, November 15, for Middle and Upper Schools, and Sunday, November 22, for Beginning and Lower Schools.

Link to detailed schedules.

Mark your calendar for two can't-miss events in November

Viewfinder Global Film Screening: Coming of Age in a Culture
Thursday, November 12, 6:30 p.m.

“Higher Than the Eagle Soars: From the Eiger to Everest” a talk by renowned mountaineer Stephen Venables
Tuesday, November 17, 7:30 p.m.
A benefit for Catlin Gabel's outdoor education program

There's No Place Like Home"
Gambol online auction

Support our students and teachers in this important fundraiser for the school. The Gambol auction committee invites you to follow the yellow brick road to our online auction launch party on Monday, November 9, from 8:30 a.m. to 3:30 p.m. in the Jubitz seminar room (lower level of the Upper School library). Food, drinks, music, and online shopping. A great place to start your holiday shopping!

Annual Fund gifts rolling in, thanks to parents

Remember, there is a $2,200 gap between tuition and the cost of educating each student. If you can possibly cover the gap for your child this year, please do.

Don't forget to make your Annual Fund pledge early in the fall to avoid getting a reminder phone call. Just think how many fewer hours our Annual Fund volunteers will have to spend making calls if you contribute promptly!

Pledge or give online.

All hands on deck for our 65th and final
Catlin Gabel Rummage Sale!

If you have not signed up to volunteer, don't worry about it. Come to Expo and we'll find a job to your liking.

Great deal on Windows upgrade available to students and faculty-staff

Purchase the new Windows 7 Professional Upgrade for only $39.99 through the Oregon Technology Education Consortium's (OETC) personal technology purchasing website. This promotion runs through December 31, and is available to all students and faculty-staff for personal use at home. Limit is one copy per person per year. You will need to enter your faculty-staff ID or student ID during processing in order to verify that you are eligible to purchase this item. Find your ID online. You will be asked to login to the website before the information is provided. If you have a problem, please e-mail webmaster@catlin.edu.

What’s new on the website?

The website is frequently updated with news, photographs, blogs, and videos. Big news and events are promoted with home page badges posted below the photo. Here are a few website highlights.

Empty the Lot Day, Rummage Contest, and Homecoming videos