As always, the school’s administration and Board of Governors must address the economic realities of today. In the fall of 2012, NCS tuition will be over $35,000; we are keenly aware of the challenges that tuition increases place on families. We remain committed to making an NCS education available to girls from all socioeconomic backgrounds. In addition to considering issues of affordability, we remain committed to an optimal class size, a superb faculty, and an outstanding program. In this spirit, we will continue to achieve economic efficiencies, explore opportunities for innovation borne out of our mission and values, and maintain sound financial management. Decision-making informed by data and good judgment will continue to support our sustainability initiatives.
Fundraising is critical to our plan. It has allowed us to make many improvements to our campus over the years and to grow our endowment. Looking ahead, we will keep our focus on completing the renovation of our Woodley North campus. This is the last step in a commitment the school has made to ensure we have up-to-date facilities in keeping with the mission and quality of the school. We also recognize that the endowment must continue to grow so that the school can operate in the long run with a larger percent of non-tuition dollars. This is truly the long-term solution to financial sustainability.
To ensure NCS remains a vibrant and accessible educational institution, we will pursue the following goal over the next five years:
Align fiscal management with strategic priorities
- Complete the final phase of the 1991 NCS Master Plan—the renovation of Procter Hall— including a new library/instructional center that meets the aspirations and needs of our students and teachers
- Develop a long-term plan to increase the endowment significantly including planned giving
- Develop a plan to strengthen our financial aid program
- Create a culture of philanthropy, with the board leading as stewards of the school’s long-term financial health
- Continue to aggressively identify and implement internal and external operating efficiencies, encouraging a culture of thoughtful financial management at every level within the school
- Work with Beauvoir and St Albans to develop an ongoing board level tri-school committee that will consider both programmatic and operational efficiencies
- Maximize opportunities for increasing auxiliary sources of revenue
- Develop and maintain data within all departments of the school on key indicators of institutional health that are used by decision makers within the school and at the board level (income and expense benchmarks, satisfaction surveys, admissions, diversity, compensation, financial aid, fundraising)
- Continue our commitment to environmental sustainability, both as a means of controlling costs and to fulfill our stewardship responsibilities