IMPACT REPORT 2020-21
with knowledge,and knowledge with self-control, and self-control with endurance, and endurance - 2 Peter 1:5-7
Hello, I am Ryan Fazl, a Grade 12 student, and the President of the SMCS Student Government. On behalf of all the students at St. Michael’s College School, I would like to thank you for the generosity and support you have provided our community. For the past six years, my senior year included, I have been a witness to the positive changes and transformation our school has experienced. Thanks to your support, we have been able to install new technology, support athletics, our artistic talents, and many clubs and activities. All of which has helped us truly enjoy the well-rounded St. Mike’s experience. My educational journey started in Grade 7. Prior to entering St. Mike’s, I came from a relatively small Catholic elementary school. I was impressed with the scale of St. Michael’s, with over a thousand students. The school was both exciting and intimidating, but I quickly adapted when I learned of the variety of activities and clubs that were available. In my first year, I joined 21 clubs. I also auditioned and received acting roles in both the Fall Drama and Spring Musical. All of this made my school experience more interesting and special. The performances and production level of the shows that St. Michael’s produces are truly unbelievable and professional. I joined the cross-country team in Grades 7,8, and 9, and the ski team in Grades 9 and 10. There is no doubt that my six years at St. Michael’s have been very fulfilling and full of different experiences made possible through your generous donations and support. In retrospect, all the clubs and activities opened my mind to experiences I would never have had if they were not available for me to participate in. As a result, each subsequent year during our Open Houses, I promoted these amazing and diverse activities to all prospective families. At St. Mike’s, there truly is something for everyone. Thanks to the support we have received from our school community, we have maintained and excelled in athletics, especially given the challenges that the global pandemic presented to the school community. I proudly represent the student body at St. Michael’s and express our deep appreciation for your support through the enrichment of our academic, co-curricular, and spiritual lives at the school. Through your engagement, students learn of the beneficial impact your donations have had on our school community. It’s remarkable how it continues to boost school spirit and student morale when we see and feel the support of our very special donors. The unselfish support you give to St. Michael’s College School allows our students to grow into influential men of the future. On behalf of all of us, thank you.
IMPACT TO MUSIC
IMPACT TO ATHLETICS
IMPACT TO CO-CURRICULARS
HANDWASHING STATIONS
THERMAL TEMPERATURE GAUGE
CLASSROOM TECHNOLOGY
COLLABORATIVE FURNITURE
TRANSFORMER/COLLABORATIVE ROOM
ARTIFICIAL TURF & SEATING
PHYSICALLY DISTANCED GRADUATION
Financial Report for Fiscal 2021 from the Chief Operating Officer For the fiscal year ended June 30, 2021, the School’s Current Fund, which finances the School’s day-to-day operations, had an operating loss of $3,033,000 before extraordinary items as compared to the previous year’s loss of $1,523,000. The loss is a reflection of the lower enrolment due to COVID-19 and November 2018 incidents. The School also had non-re-occurring expenses of $1,358,000 which will be funded by the Foundation that currently manages the school’s endowment. The Foundation contributed $3,544,000 to the school for fiscal year 2021. The School’s net investment and rental income was $2,000,000 compared to the previous year of $269,000. The Restricted Funds (Building and Scholarship) had an operating surplus of $1,606,000 down from last year’s surplus of $1,612,000 before extraordinary items. Capital spending was up significantly from the traditional level of approximately $1,000,000 to $1,667,000 during the year. The major capital expenditures for 2021 was the upgrade to HVAC systems and the continued upgrading of lighting to LED lights. Williams & Partners, Chartered Professional Accountants LLP, have audited the school’s financial statements and have expressed an unqualified opinion on the fair presentation of our financial statements. Enrolment levels for the 2021-22 academic year are projected to remain flat at approximately 900 students but could drop slightly as COVID-19 lingers on. The school recognizes how increasingly competitive the private school market has become. In response to this environment, the Administration continues to adapt the Offices of Admissions and Student Services and provide them with resources to attract and retain qualified student candidates. The overall financial position of the school continues to be strong. It is incumbent on the school to continue to be fiscally responsible in setting tuition fees, generating additional revenues, and controlling its costs to ensure its viability for years to come. For the past five years, the President and the Basilian Fathers of St. Michael’s College School have been working together with senior administrators on a strategic plan to keep St. Michael’s College School at 1515 Bathurst into the next century. A part of the plan is to develop the lands on the corner of Bathurst and St. Clair which may start in 2023 and invest in new facilities for curriculum and athletics, including a new arena. During the 2021-22 academic year, the Board will be working with the school to further develop and advance these plans and will update the community on its progress throughout the year. Thank you all for your support. Yours truly,
Greg Hook ’80 Chief Operating Officer
The St. Michael’s High School Foundation Annual Report for Fiscal 2021 The St. Michael’s College High School Foundation was established in June 2005 with the intention to raise, manage, and invest funds for the benefit of the general charitable purposes carried out by St. Michael’s College School. The Foundation funds encompass the Basilian Fathers’ endowment, the Odette Arts Scholars Bursary Fund donation, and the Bathurst and St. Clair land proceeds. The Foundation endeavours to grow the fund capital while contributing annually to the school’s charitable purposes. This is accomplished by having investment policies in place that will generate yearly returns in excess of 3.5% (the returns for fiscal 2020-2021 were 8+%) through the application of prudent investment strategies. The goal is to have the fund grow to $100+ million (excluding the proceeds from the land deal) over time to ensure better support for the school’s charitable purposes. Since its inception, the Foundation has financially assisted St. Michael’s through the Financial Assistance Programme and for the construction of the Centre for the Arts. To date, $14.63 million has been gifted to the school. In addition, the Foundation has also provided short term loans of up to $4.5 million annually as required. Currently, there are no loans outstanding. The Foundation is overseen by an independent Board of Directors separate from the school. For the fiscal year that ended June 30, 2021, the Foundation had an operating surplus of $9,824,536 (up from $1,509,507 in 2020) from various investments before the transfer of funds to the school of $3,544,304 (up from $2,755,760 in 2020) to support its annual Financial Assistance Programme. The financial statements have been audited annually by Williams & Partners, Chartered Professional Accountants LLP, and they have expressed an unqualified opinion on the fair presentation of our financial statements for the year ended June 30, 2021. Since its inception, the Foundation has been an integral part of the finances of the school. It will require support from alumni, parents, staff, and friends of St. Michael’s College School to fully achieve its goals. If you would like to make a donation to the Foundation, kindly contact Kimberley Bailey, Director of Advancement, at baileyk@smcsmail.com. Yours truly,
John Piccininni ’77 Chair, Board of Directors
YOUR DONATIONS AT WORK 2020-2021 Named Bursary/Scholarship
42.3%
School's Greatest Needs
34.3%
General Bursary/Scholarship
18%
Other
5.4%
Every Gift Matters
304 Gifts Under $500
GIVING BY GROUP Alumni - 40% Current Parents - 37% Friends of SMCS - 15% Company/Business - 8%
new donors in
2020-2021
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Our Mission In the tradition of the Basilian Fathers, we educate young men in Goodness, Discipline, and Knowledge for a life of leadership and service in faithfulness to Jesus Christ.
Our Vision We graduate young men who will change the world through lives of faith, character, and service.