DEVELOPMENT UPDATE:
Fast Facts About the Next Generation Campaign
Rendering of the new Crossroads Building which is scheduled to open in September 2021.
What is the Next Generation Campaign? This $20 million campaign is a three-year, focused fundraising effort to grow Langley’s endowment and construct a new building to house our Primary School, fifth grade, and library/ media center, along with our Club E.D. program and a multi-purpose movement and music space on the lower level.
Why is it important to grow the endowment? An endowment creates a financial bedrock for an organization. It is an invested pool of money that is protected so that the principal remains untouched in perpetuity. At $4.6 million, Langley’s endowment is one of the smallest relative to our peer institutions and does not reflect the strength of our program. Increasing the endowment to $10 million will enable Langley to continually and fully fund innovative programming, keep tuition affordable while offering tuition assistance to deserving families, and attract and retain the best teachers by compensating them at a level that truly recognizes their extraordinary work.
Why does Langley need a new building? With flexible, collaborative spaces, breakout areas, plenty of natural light, connections to the outdoors, a performance stage, and a place for movement classes, the new Crossroads Building will allow Langley to provide modern learning spaces to better meet the needs of our youngest learners in the Primary School, while also giving our fifth-graders an appropriate place to explore and grow as they prepare for the transition to Middle School. Our new library/media center will incorporate advancements in design, programming, and technology in order to expand its role as a “hub” of campus that will bring our entire community of students, parents, and faculty/staff together. On the lower level, a vibrant new space will enhance the afterschool experience for the growing number of students in our extended day program, Club E.D.
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WINTER 2020
Do gifts to The Langley Fund support the Next Generation Campaign? The Langley Fund, the school’s annual fund, is completely separate from the Next Generation Campaign. It is an annual appeal that allows for growth and flexibility in the operating budget, helping provide student experiences such as musical instruments, the STEAM Fair, and the eighth-grade capstone trip. The Langley Fund also provides resources to attract and retain the best and brightest faculty and staff.
What about the annual auction? What role does it play? Like The Langley Fund, the annual auction raises funds that are an essential part of Langley’s operating budget each school year. These funds play a significant role in enabling Langley to enhance and develop our programs, facilities, and faculty/ staff in support of the school’s mission. In addition, every dollar committed during the “Raise the Paddle” portion of the auction supports faculty excellence.
Does Langley still need to raise money for the Crossroads Building even though groundbreaking is planned for June 2020? Yes, fundraising to complete the building is even more important now. Every dollar not raised is taken on as debt. The Langley Board of Trustees has been fiscally responsible in developing a financial strategy that 1) embraces the unique opportunity it has to keep the cost of the building from escalating out of reach and 2) uses bridge financing to fund the balance of the project while fundraising continues. It is important to note that, for every million dollars raised toward the building goal, Langley’s annual debt service will decrease by more than $52,000.
