This bulletin is our 4th installment of a regular series of updates to our school community from the Mark Day School Board of Trustees. This month's In Step With the Board describes the work of the Campaign Steering Committee and the Development Committee.
The Campaign Steering Committee, chaired by Aimee Foreman, oversees the school's current endowment campaign, which is 100% focused on teachers and teaching--supporting teacher compensation, the professional development that is a hallmark of our school, and our intern teacher program. At independent schools, campaigns commonly take place every 5-7 years and last for 3-5 years. Last spring, the committee launched the endowment campaign with trustees and will begin to reach out to current families, alumni and friends in the coming months.
The three major campaigns in our school's history have an essential impact on every child's Mark Day experience, every day.
- The Campaign for Mark Day School (2000-02) raised $3.5 million to build the Arts & Science building and Gym that serve as central parts of the learning experience at Mark Day.
- The largest single gift in school history, $2.5 million, established the perpetual endowment that funds the M.V. Williams Scholars program. The gift was followed by the Campaign for Teaching and Learning (2004-07), which added another $3.2 million to the endowment to support teacher compensation, professional development, and socio-economic diversity.
- The We Create Campaign raised $6.5 million and led to the LEED Platinum Learning Commons, Creativity Lab, Amphitheater and Quad project that re-imagined the heart of campus and added 11,000 square feet of learning space.
What is endowment? Endowment funds the operating budget of the school in perpetuity. If you have been able to attend the Finance Town Hall meetings offered each winter, you know that the endowment currently lowers tuition by approximately $1,000 each year for each and every student! Another way of saying this is that the endowment is expected to contribute nearly $460,000 to the operating budget for the 2022-23 school year. The endowment principal remains intact each year as the school uses only a portion of the return generated to fund initiatives, with the spend rate ranging between 3% and 4% annually over the past several years. The endowment supports teacher salaries and professional development, brings socio-economic diversity that benefits every child, and keeps us secure in volatile times.
The Campaign Steering Committee includes chair Aimee Foreman, Head of School Joe Harvey, Board President Ethan Dornhelm, Chris Abate, Lindsay Bartsh, Sara Egide, Katie Shannon, and Director of Development Wendy Levine '89.
The Development Committee, chaired by Ryan Brown, is charged with the oversight of the school's fundraising and development activities. Fundraising supports many special programs and initiatives including capital projects, our endowment, Indexed Tuition, technology, and so much more. We thank the amazing generosity of our current families, grandparents, trustees, alumni families, and other friends of the school.
In addition, after May 9th, the cost of educating every student for the remainder of the school year is completely covered by the contributions from The Mark Day Fund, the school's endowment, and the Family Association's revenue.
Needless to say, fundraising is important for the Mark Day School community!
- The Mark Day Fund, our annual fund, helps to bridge the gap between tuition and the actual cost of educating each of our children. Donations are put to work immediately, during the current school year. We strive for 100% participation from the family community, and we are nearing that goal during 2022-2023 with current participation at 93%. Under the leadership of Eric Palm, Patrick Shannon, and board member Megan Mariani, we are poised to exceed our $1 million fundraising goal. That support comes not only from current families, but also from alumni, alumni parents, grandparents, and friends of our school.
- This year's spring fundraiser--TAKE ME TO THE TWENTIES, held on April 1--was a wonderful success and a great community event. The money the Family Association raises through auction items, socials and our Fund-A-Need is a critical piece of each school year's budget. We are so grateful to have had parent volunteer Devin Alper and the Family Association's VPs of Fundraising Tiffany Westwater and Jessica Clifton leading this effort. The spring fundraiser netted approximately $320,000, with $173,000 of that going toward the Fund-A-Need's turfed play field. We thank all who volunteered, supported, and attended the event.
The Development Committee is chaired by Ryan Brown and includes Board President Ethan Dornhelm, Mike Beck, Rika Gopinath, Reetika Grewal, Scott Lamson '06, Pam Emo, Mark Day Fund Co-Chair Megan Mariani, Andrea Urda Rijo, David Shapiro, Head of School Joe Harvey, and Director of Development Wendy Levine '89.
The impact of ongoing philanthropy is also due to the support from people in these two groups:
Legacy Society - In 2015, we launched Mark Day School's Legacy Society, a planned giving program that allows families to name Mark Day School in their will or trust and provide for students in perpetuity. Six families have already included the school in their estate plans. Click here for more information.
Eighth Pillar - We thank 90 supporters who have consistently donated to our school over 10 or more consecutive years, and they receive special recognition in the Mark Day School Annual Report. In addition, we now have 118 families and other community members as part of Mark Day School's 8th Pillar, which recognizes those who have been especially generous on a cumulative basis to our school. Such tremendous and consistent generosity enables us to provide an exceptional program year after year, providing lifelong value to our graduates.
Please stay tuned for future editions of In Step With The Board. Our goal every year is to be transparent about our work in service of our school.
For additional information about the board, please visit the Board of Trustees section of the school website. If you have any questions about the Development and Finance Committee, please contact Ryan Brown; for Campaign Committee questions, please contact Aimee Foreman.
The Mark Day School Board of Trustees