The first few weeks of 2009 launched a new era around the globe, the country, and on Mount Ida. The message from the 44th president, infused with optimism and strength, addressed challenges that demand disciplined decisions and sacrifice. I was inspired by the images and words of January 20, 2009; they offered a secure foundation of hope for our nation, for other nations, and for every individual who was privileged to witness the inaugural events. While listening to the ceremony and viewing the crowds of historic proportion, I thought about how the realities of our country would inform the realities of life at Emma Willard. For President Obama was absolutely correct: “The world has changed, and we must change with it.”

Earlier this month Chair of the Board of Trustees Wendy Lehmann ’64 and I met with the faculty and staff to outline the fiscal state of affairs at Emma Willard and the plans to ensure the sustained excellence of our school. Several days later,
I reminded our student body that “ye grey walls protecting” could not keep the international economic distress at bay. Our students represent every sort of diversity, so each of their families will feel the impact of the economic downturn in personal ways. We must be prepared for what the future holds for them and for Emma Willard. We must plan conservatively while thinking boldly; we must be compassionate, yet decisive. Just as our country seeks a new way forward,
so must we.

As we implement our plans, we know it is essential to adhere to our founder’s distinctive vision. A summary of our efforts to date follows. Please join our continuing conversation in the coming weeks by visiting our Web site at www.emmawillard.org, where we intend to post related information and FAQs. Your interest and investment are more important than ever.

An Overview

In what has been described as a “perfect storm,” all of our traditional revenue streams stand to be negatively affected by the current economic distress. Endowment revenue, which accounts for 36 percent of our operating budget, is projected to decrease significantly; by late October we had seen the endowment slip 30 percent from its peak market value. Tuition and gift income are uncertain, and, at the same time, our expenses continue to increase. Trustee conversations have focused on ways in which we can address the significant strains on our budget while framing a shared vision that secures Emma Willard’s place at the forefront of girls’ education.

Fortunately, our board recognized the need for extensive long-term fiscal planning a full two years ago. Their preliminary fiscal work has served us extremely well, allowing us to streamline our efforts and permitting us to focus on areas over which we have the greatest control. Further, it is important to note that our endowment has been managed conservatively and well. However, as we have read, there was nowhere to hide in this unstable market. Accordingly, in early December the trustees held a special meeting to address the impact of the downturn and finalize the details of a fiscal model that will frame our planning for the next five years.

Budget Reductions

Our challenge is to reduce our operating budget by $1.5 million over the next two years. This process has involved key individuals from across the campus. Our senior administrative team has worked side by side with the board and me to review and consider difficult choices. Foremost in our minds during these discussions is preserving that which matters: a best in class education for girls.

We will strive to ensure that Emma Willard remains accessible to girls, regardless of their families’ means, who will benefit most from our faculty and curriculum and who will contribute most to our community. We will cease all facilities master planning for the time being and reduce both utilities and transportation costs. We are amending internal policies and practices where we see opportunity for efficiency and income. Using careful benchmarking and performance indicators, we will continue to scrutinize all available options for enhanced revenue and further reductions, believing that across-the-board cuts will not serve the school well. 

Impact on the School Community

After careful consideration it became clear that we need to make modest reductions in the number of faculty and staff positions. Some of these reductions will occur via attrition, but some will not. This will be hard. While the number of directly affected individuals is relatively small, this is little consolation to those who will leave our community and those they leave behind. These faculty and staff reductions have already been announced to the community and will not take effect until July 1 in order to provide time for our colleagues to make their transitions successfully.

Summary

These are trying times but, in our nearly 200-year history, Emma Willard School has endured even greater challenges. We prevailed then, as we shall now, by placing the essential ahead of the desirable and by distinguishing the “must dos” from the “nice to dos.” While there are no crystal balls to predict the timing of an economic recovery, we were a strong, vital school when these latest challenges loomed, and we will be an even stronger school when they are behind us. Our aim is to use this financial mandate for change, not as a moment in which to pull back, but rather as a catalyst for examining what we do and for ensuring that we do it better than ever.

As I close, let me refer to Elizabeth Alexander’s inaugural poem, as her words substantiate the truth that hope always trumps fear during tumultuous times: “In today’s sharp sparkle, this winter air, anything can be made, any sentence begun. On the brink, on the brim, on the cusp, praise song for walking forward in that light.” Indeed, this school is committed to walking forward in that light and with such hope.

Knowing you are with us as we wrestle with arduous decisions makes the going a bit easier for this grateful head of school.