FINANCIAL OVERVIEW

KIT FINANCIAL OVERVIEW

Due to our stronger finances, additional resources have been devoted toward enhancing Roeper’s near-term and long-term finances as outlined in the newly adopted Strategic Plan.

Roeper’s financial position continued to improve during the 2018/2019 school year. Due to our stronger finances, David Feldman, the faculty, administration and Board of Trustees devoted additional resources toward enhancing Roeper’s near-term and long-term finances as outlined in the newly adopted Strategic Plan. From a financial perspective, there are several key sub-elements of the Strategic Plan that are critical for Roeper’s longterm sustainability:

Support and Attract Great Faculty and Staff — Roeper’s longevity is due to the strength of the faculty and administration. Retention of our talented teachers and staff is vital to Roeper’s longterm success. We are pleased to share that during the 2018/2019 school year, salaries were increased by ~2% and are at the benchmark salaries of other Midwestern independent schools, and as we enter the 2019/2020 school year, we look to raise the retirement match to 5% to be better aligned with other independent schools in the area.

Invest in Best-In-Class Facilities — Over the past several years, significant investment was made in the Birmingham campus to improve the learning environment. The Development team turned its attention to Phase II of the Capital Campaign to finish the improvements to the Birmingham campus. The major components of this campaign include a full, working kitchen, a space devoted to students with twice exceptional learning requirements and finally, long-needed improvements and upgrades to administrative office space. Total cost for these projects is ~$1.2 million.

We are pleased that we completed the fundraising for the kitchen, and the students started having prepared meals in September 2019! The Development team is working tirelessly to secure the remaining ~$600,00 to complete the campaign. Grow the Endowment — Roeper’s endowment, a key source of funding for the school’s operation, increased 6.3% to more than $8 million as a result of donations and prudent investment management. By continuing to grow the endowment, we will be able to provide increased funding for Roeper’s operations as we strive to keep tuition affordable.

Support the Mission through Increased Financial Aid — While financial strength is important to the long-term viability of the school, it is only one element that defines Roeper’s success. George and Annemarie founded the school to provide education to children of all income levels. As a result of an improving financial position, Roeper was able to continue to provide more than $2.3 million in financial aid dollars to attract and retain talented young people and their families in our community. Financial aid is a critical element of Roeper’s financial model as more than 31% of Roeper’s tuition revenue comes from families who receive financial aid.

David Feldman and Dave Fluent provide Roeper with strong financial stewardship. Their leadership has resulted in an improved financial position over the past several years. The Finance Committee has worked closely with the school’s leadership to establish the annual budget and to make sound financial decisions to not only benefit this year, but to also keep a clear focus on Roeper’s long-term financial strength to support future students and families. F