Maine Coast Waldorf School 2020-21 Annual Report

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SCHOOL FINANCES A SUSTAINABLE BUDGET, SUPPORTED BY PHILANTHROPY A YEAR OF FISCAL STRENGTH AND RESILIENCE The school’s fiscal strength and resilience was reflected this past year in our ability to weather the financial impact of covid, while continuing to provide all of our students a high quality, in-person, Waldorf education. This was made possible thanks to good fiscal management and the philanthropic generosity of this community. During the 2020-21 school year, our buildings and grounds expenses increased over 50% from the prior year to cover the construction of 16 outdoor classrooms, air filters for every room, health and safety equipment, and building renovations for a nursing station. We also spent an additional $105,000 to meet the 11% increase in tiered tuition needs of our community during this difficult time. Tuition revenue remains the primary driver on the income side, generating 88% of our annual revenues. While enrollment is steadily rising (267 students in EC-G12 as of Fall 2021), it is not yet at pre-covid levels of 292. Reaching full enrollment in every grade remains a priority. The largest revenue increase in 2020-21 was in philanthropic giving, which nearly doubled from the prior year, driven by an outpouring of generosity from our community. Although not reflected in the pie charts below, MCWS also received covid-related federal (PPP) and state (EANS) forgivable loans, which is helping cover ongoing expenses related to the delta variant. MCWS’ top strategic priorities for financial sustainability: 1) reduce reliance on tuition revenue by increasing our Endowment Fund through planned gifts. A significantly larger Endowment Fund is needed to generate annual revenues equivalent to our tiered tuition expenses. 2) make MCWS education more accessible and inclusive, by expanding tiered tuition. Increasing annual giving to the Maine Coast Waldorf Fund, Tiered Tuition Fund, and the Opportunity Fund, all help make this important goal possible. ANNUAL EXPENSES ANNUAL INCOME ANNUAL EXPENSES =Personnel $3,276,338 =Tiered Tuition $853,661 =Programs $58,380 =Administrative $224,074 =Buildings & Grounds $474,421 =Debt Service $164,965 ANNUAL INCOME =Tuition and Fees $4,657,948 =Fundraising $601,618 =Auxiliary Programs $26,191 =Endowment & Surplus $16,470 Total: $5,302,227 Total: $5,051,839
MAKING A DIFFERENCE HOW PHILANTHROPY SUPPORTS MCWS With gratitude from Lynne Espy, Development Director PHILANTHROPY: MAKING IT EASY TO GIVE Since the school’s inception in 1984, philanthropic giving has generously supplemented MCWS’ annual operating needs, making innumerable dreams possible. Now, more than ever before, due to the ongoing global crises and financial disparities, philanthropic giving will impact MCWS’ ability to reach more families, attract the best teachers, and provide the highest quality Waldorf education. We are grateful for all the ways donors contribute to the school, from cash gifts that fill an urgent funding need to major and planned gifts that will make future dreams come true. Our goal is to make giving easy! Easier mobile and online giving MCWS recently adopted a new online and mobile giving platform that greatly expands payment options, including Venmo, Apple Pay, Google Pay, debit and credit cards (VISA, MC and AMEX), PayPal and direct deposit from your personal bank account. Visit MaineCoastWaldorf.org/give Easily transfer QCDs For donors age 70.5 years or older, donating Qualified Charitable Distributions (QCDs) from your Individual Retirement Account (IRA) is one of the most tax-efficient and easiest ways to support the school. Our website details the steps you can take to initiate this transfer. TRANSFORMATIVE GIVING IN 2020-21 The Maine Coast Waldorf Fund, our largest annual unrestricted fundraising effort, predominately supports MCWS’ critical assets: faculty (salaries and benefits) and students (tiered tuition). Last year, 237 donors contributed a total of $307,813 to this essential fund, exceeding our goal. The Tiered Tuition Fund, supported through directed gifts by individuals and businesses, mostly via the online Auction, provided $130,000. This provided tuition support to over 40% of MCWS families. The Opportunity Fund was established by generous donors in spring 2021 to increase diversity and accessibility. It provided supplemental tiered tuition for a number of high school families who qualified through TADS, making it possible for their children to benefit from this education. The Endowment Fund, supported primarily by larger directed and planned gifts, ensures MCWS’ future financial sustainability by providing annual revenue from investments. Last year the Endowment Fund increased by over $340,000, topping one million dollars, thanks to generous philanthropic donations and a strong stock market. Stocks, DAFs and Foundation Gifts For donors who have appreciated stock, or who give through a Donor Advised Fund (DAF) or a Family Foundation, we can provide the information you need to make a meaningful gift while also meeting your longterm financial and estate planning needs. Planning for the future Donors who wish to support the school’s longterm goals of sustainability, accessibility, and inclusivity can do so by naming MCWS as a beneficiary of a bequest in your will or trust. We can help you through the process. The first step is making the decision to give. The details can be tailored to meet your goals. Start the conversation today by contacting the Development Office at development@MaineCoastWaldorf.org
Page 1 and 2: 2020-2021 ANNUAL REPORT MAINE COAST
Page 3 and 4: TRIBUTES David Sloan, founding teac
Page 5 and 6: As we begin the 2021-22 school year
Page 8 and 9: CLASS OF 2021 GRADUATION A REMARKAB
Page 12 and 13: WITH DEEP GRATITUDE EXPANDING THE R
Page 14 and 15: BUSINESS AND FOUNDATION SUPPORTERS
Page 16: 57 Desert Road, Freeport, ME 04032

Maine Coast Waldorf School 2020-21 Annual Report

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