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Welcome from the Head of School

Dear Friends,

 

The 2020-2021 school year was a remarkable one for Friends Seminary, and our many accomplishments have deepened my gratitude in working with our enthusiastic, dedicated, and flexible students, faculty and administrative staff. The decision to reopen our doors in September 2020, while still in the midst of the COVID-19 pandemic, was not an easy one, but it was born of the belief that in-person instruction was essential to both our students’ learning and emotional development. We had confidence that our teams—from instructional to operational—had the talent, courage, and fortitude to pull it off. When opportunities for improvement were identified, we were quick to regroup and retool, always working toward the most equitable and developmentally appropriate divisions of available time and space for our students. All the while—and still—the health and safety of our community remained our paramount concern. 

 

In order to execute the reopening, which included hybrid in-person/online learning models as well as significant modifications to our physical plant, we incurred an additional $2.3M of unbudgeted-for costs, which became the focus of our fundraising efforts for the year. To mitigate these unforeseen challenges, $2,644,000 was raised for the Fund for Friends; the 2021 Senior Class Gift created the Class of 2021 Financial Aid Endowment, with 87% of the class families participating; and our endowment grew to more than $40M by the end of the year. All of this is evidence of how the Friends community came together—despite many economic uncertainties—to support the School and its mission. Because of you, we didn’t just survive, we thrived!

 

If that were the end of the story, I would still be as proud of the Friends Seminary community as I have ever been, but in March you showed up impressively to support our first ever all-virtual Benefit: Friends Forever. In all, the Benefit raised $579,000 to help offset additional COVID costs, and featured a record-breaking paddle raise. Because of the online format, we were able to open the evening to students for the first time, allowing families to experience the evening together, and growing the audience to more than 1,000 viewers! Highlights from the evening included a student-narrated Day in the Life video, a performance of “Keep Holding on” by the Middle and Upper School Choirs, and a surprise appearance from School Receptionist Emerita Eva Townes and many more.  

 

As always, none of these notable achievements could have been accomplished without you—the people who make up the heart and soul of Friends Seminary. On behalf of the Board of Trustees, for whose service I am grateful, and the entire School, it is my pleasure to recognize and express our sincere gratitude for the alumni, parents, grandparents, past and present faculty and staff, and parents of alumni who have honored our community with their philanthropy, their volunteerism, and their partnership with Friends this past year.

 

Your dedication and commitment to Friends Seminary and its mission has helped us continue to deliver a Friends education in circumstances we could have never imagined. As I embark upon my twentieth year as Principal/Head of School, I am humbled to witness the continued growth of care and stewardship that characterizes the people of our School. I thank you and pledge my—and the School’s—continuing best efforts to offer programmatic excellence and fidelity to the Quaker values which are the foundation upon which Friends Seminary is built.

 

With gratitude,

​

Robert “Bo” Lauder
Head of School

2020-2021
OPERATING INCOME

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Tuition & Fees
$42,498,276 (86%)


Gift Income
$3,543,829 (7%)

 
Other Income
$2,272,616 (5%)

Interest from Endowment & Temporarily Restricted Funds
$1,227,426 (2%)

TOTAL OPERATING INCOME: $49,542,147

2020-2021
OPERATING EXPENSES

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TOTAL OPERATING EXPENSES: $49,542,147

Salaries & Benefits
$27,393,254 (55%)


Financial Aid
$6,615,550 (13%)

Instructional Activities &
Professional Development
$4,971,029 (10%)

 
General Operating
$2,181,278 (4%)
 
Plant & Operations
$3,363,890 (7%)

Debt Service
$1,245,823 (3%)


Rent to NYQM and Shared Maintenance Fund
$1,015,224 (2%)

Board Designated Funds
$2,756,099 (6%)
 

TOTAL ENDOWMENT
(as of November 15, 2021)

$41,106,191

$5,971,552

TOTAL PHILANTHROPIC
SUPPORT
(July 1, 2020-June 30, 2021)
 

CURRENT OPERATING
FUNDS

$3,582,209

The Fund for Friends
$2,643,932


Faculty Enrichment
$340,650


Restricted Operating Budget
$597,627

CAPITAL FUNDS
$1,667,308

Light the Future (Facilities)
$1,146,925


James Turrell Fund
$520,383

ENDOWMENT FUNDS
$722,035

Board Designated Bequest Fund
$1,528

Light the Future (Endowment for Financial Aid)
$51,172
 
Lift Every Voice & 225th Anniversary
$112,500

Senior Gift 2021 - Class of 2021 Financial Aid Endowment
$131,621

Other Endowment
$425,214

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