Sebastopol Independent Charter School Community Meeting Charter Foundation October 12, 2010 www.theCharterFoundation.org
The Big Picture The State of the Foundation The Road Behind Us – a year of challenge and opportunity The Difference Your Support Makes The Road Ahead – planning for the possibilities Your Questions and Answers
Building Our Community Our doors have been open for 16 years Over 150 students have graduated from our school, with the oldest now attending college Thousands of students and families have been a part of our community Through the generous support of our families, past and present, we’ve built and paid for this campus
Funding in Private Waldorf Schools Most Waldorf schools in the U.S. are private schools. The tuition cost per year, per child for grades 1-8 in Bay Area private Waldorf schools ranges from $12,000 - $16,000. Annual giving and donations are additional. Waldorf pre-schools average $500/month.
The Charter Foundation What is it and why do we need it? • A non-profit dedicated to serve the school • A privately funded entity distinct from SICS • Provides the facilities and supports programming What does the Foundation do? • Raises money for the school • Manages the building and other assets • Holds the long-term vision for the school
Savings vs. Supporting School Programs
Charter Foundation Sources of Income Pledge Program • Our most important source of income Fundraisers • Rummage Sale (this Saturday) • Online Auction (November 28 – December 12) • Spring Gala (March 19) Rental income – from School and retail shops Other Fundraising: eScrip, Whole Foods scrip, Friends & Family, Grants
Charter Foundation Sources of Revenue
Charter Foundation Disposition of Funds
Paying Off The Mortgage What we did and why • Used $614,000 from savings to pay off RSF loan • Frees up $144,000 in cash flow each year • Allows us to donate an additional $72,000 to SICS each year What it means • Our community paid off a $1.3 million mortgage in just 8 years • We own a valuable asset free and clear • And we need to replenish our savings to allow us both to acquire a unified campus and continue supporting school programs
Benefit of Paying Off Mortgage With Mortgage Without Mortgage CF Expenses CF Expenses SICS Grant SICS Grant Mortgage Savings Savings
Charter Foundation Savings Over Time
Charter Foundation Assets Our downtown campus • Two separate parcels with 10-year old building • Current value about $2.5 million • Owned free and clear Our savings • $170,000 in checking and savings accounts • $102,00 in Rudolf Steiner Investment Fund • We have been saving about $150,000/year, and are targeting to save $222,000 this year
Why the School Needs Your Pledge As a charter school, SICS receives no state funding for its facilities The difference between state funding per child and cost to educate per child is $2,000/yr. To close this gap, we ask for $230/month per child for 12 months Pledges are tax-deductible
Our Community is the Foundation
All Pulling Together
Keeping the Promise
Pledge Participation By Grade: 2009-2010
Pledge Participation By Grade: 2011 YTD
Mind the Gap: Revenue and Expenses $7,000 $6,500 $6,000 K-3 ADA Revenue 4-6 ADA Revenue 7-8 ADA Revenue $5,500 Expenses Per Child $5,000 $4,500 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012
Summary of Program and Staff Cuts This Year Spanish grades 1-3 – cut to 2x per week 3 rd grade strings – class sizes doubled Middle School block support – gone Employee Benefits: Medical cost to employee has gone up Eliminated Blue Shield option – Kaiser only Retirement benefit cut from 5% to 2% Professional development – no $ for conferences this year Pay freeze – really a cut, 2 nd year in a row Office support cut – same work in less time No more professional mentor at the school
Things We Still Don’t Have ONE CAMPUS – It’s hard to garden, play sports, and feel like one big school and community Teachers who get paid a real living wage, who don’t need to apply for Healthy Families for their own children Eurythmy in K-8 Woodworking in more grades Clay/ceramics Middle School Math Specialist Games and movement more than once a week Singing specialist is only grades 5-8 now, 1x/week Strings – grades 5 and 6 only have 1x/week
Things to Be Proud Of We have fabulous teachers with a high level of training and experience We have a paid games teacher this year We have record enrollment We have dedicated parents and staff and have not cut any full programs like many schools We own our main campus outright We are well-run, looking out for both the short term and very long term
Fall Online Auction
Fall Online Auction
Spring Gala 2010: HopMonk Tavern
Spring Gala 2010
Community is a Gift The word "community" is derived from the Old French “ communité ,” which is derived from the Latin communitas (cum, "with/together" + munus, "gift"), a broad term for fellowship or organized society.
The Long Term Vision A New Campus • Large enough for expanded programs, assembly and greater outdoor space • Unified to bring all grades and administration under one roof Deciding What to Do with Our Building • Sell or Lease
How You Can Help Pledge now, pledge more, keep current with your pledge Volunteer for a fundraising effort Sign up for electronic fundraisers like eScrip Add relatives to our outreach list Talk to your fellow parents
Talk to Us Charter Foundation: 824-8430 info@TheCharterFoundation.org bob@TheCharterFoundation.org Public Board meeting: Tuesday, October 19, 2010
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