Grades and comments were written and posted weeks ago, and most faculty have scattered or are enjoying the lakes and bike paths of the local area. Administrative offices are staffed by a few; the admission office is planning the next cycle; Gordon Research conferences keep Housekeeping and the Kitchen busy. But the 2010-11 year has not ended for those of us who monitor the business affairs of this school. The fiscal year for the 501(c)3 not-for-profit corporation that is Proctor Academy ends at midnight June 30. Until that moment, the Development Office is busy raising funds crucial to the budget for the year that is ending. For students and teachers whose focus is (appropriately) on the relationships that make a difference, the dollars-and-cents of Proctor as a business is invisible. Yet, without a balanced budget, the school would enter a slippery slope that could lead to disaster. Here's a simplified analysis of this business. To accomplish all that we did (all educational services, plant upkeep, food, etc.) between July 1, 2010 and today cost a little more than 15 million dollars. 

 

Therefore, we needed to generate that much revenue. Tuition, (after we account for approximately 3 million dollars in financial assistance,) accounts for about 12 million dollars. Then, we gain revenue from interest off of endowed moneys, extraneous fees, rentals at the ski hill, summer programs, etc. This brings us within $1,100,000 of a balanced budget. Where does that money come from? 

 

The answer is that it comes from Annual Giving. Over the past 51 weeks, a little more than 700 people have made gifts in support of Proctor, including 234 who have donated $1,000 or more.

 

All of this is budgeted (meaning anticipated) a year in advance. We've known all along that we needed to raise $1,100,000 by next Friday. The Development Office has made thousands of calls inviting parents, past parents, alumni and friends of the school to support the Annual Fund, and the support we have received is testimony to the way this school is valued by its constituencies.

 

There is still a week to go. You can make a gift and join the team that makes Proctor not only an outstanding school, but a healthy and prosperous business!