2021-22 Financial Report

ARCHBISHOP HOBAN HIGH SCHOOL

2021-22 FINANCIAL REPORT

JULY 1, 2021 – JUNE 30, 2022

STATEMENT

MISSION

We are a Catholic high school in the Holy Cross tradition.

We celebrate our diversity, value each person and welcome one another with the hospitality of Christ.

As a family of learners, anchored in gospel values,

Dear Alumni, Parents and Friends of Hoban,

The enclosed financial report from the 2021-22 fiscal year highlights our financial stewardship as well as investments in resources to best serve our students and community—it is a testimony of the faith and commitment of so many who lovingly call Hoban “family.” Despite the undeniably difficult economic climate, we continue to set and achieve new goals.

With your loyal and generous support, Hoban is thriving. Our Holy Cross educators are creating new academic opportunities. Our students continue to reach new heights, explore new interests, and overcome challenges they face in and outside of the classroom.

Your generosity has provided financial assistance and scholarships, allowed for continued learning opportunities for educators, and supplemented student cocurricular opportunities. Administratively, Hoban has created and is in the process of actualizing a new strategic plan that was developed in response to stakeholder feedback. We also launched a new capital campaign—the largest in school history that will forever change the landscape of Hoban. This future vision will launch Hoban to a new level of success and is transformational in every way.

With the success and celebration of the 2021-22 fiscal year, Hoban is fully committed to our next year’s growth and development. Your support continues to be monumentally important as we remain committed to providing an affordable academic experience for all students.

Yours in Holy Cross, Christopher A. DiMauro ’99

Dunay ’82 President Vice President of Finance and Operations

Jonathan

MESSAGE FROM THE PRESIDENT

1. INSTRUCTIONAL REVENUE

Tuition $9,626,746 General and Registration Fees $564,430 Other Fees $187,760 Student Events $51,133 $10,430,069

Diocese of Cleveland $177,950

Ohio Department of Education $3,099,598 Mandated Services $373,666 $3,651,214

Food Service $407,957 Transportation $21,773 Hoban Store $118,970 Athletics $234,813 $783,513 4. ADVANCEMENT

REVENUE

Unrestricted Revenue $280,442 Restricted Revenue $1,555,549 $1,835,991 5.

Trust Fund Endowed $570,000 Grants $2,500 $572,500 6.

Extravaganza $978,960 Boosters Club and Alumni $74,615 $1,053,575 7.

OPERATING EXPENSES

1. INSTRUCTION AND STUDENT ACTIVITIES

Faculty and Technology Salaries and Benefits $3,928,727

Classroom Expenses $35,221 Campus Ministry $15,678 Student Expenses $204,873 $4,184,499

2. FINANCIAL AID, SCHOLARSHIP AND WORK STUDY

Financial Assistance $5,783,058 $5,783,058

3. AUXILIARY SERVICES

Food Service $329,539 Transportation $86,208 Hoban Store $119,252 Athletics $1,090,384 $1,625,383

4. SUPPORT SERVICES

Administration $1,306,850 Advancement $677,174 Admissions $302,846 Operational Expenses $516,364 $2,803,233

5. FACILITIES

Facilities Expenses $1,318,111 Maintenance $435,694 Stadium Expenses $66,467 $1,820,272

6. TECHNOLOGY

Technology $322,968 $322,968

TOTAL EXPENSES $16,539,412

BOARD OF DIRECTORS

CHAIR

William A. Scala ’71 President, Kenmore Construction

CO-CHAIR

Patricia Wartko ’77 Retired, Don Wartko Construction

CO-CHAIR

Bud Wentz President, Wentz Financial Group

SECRETARY

Steven A. Dimengo ’79 Managing Partner, Buckingham, Doolittle & Burroughs, LLC

TREASURER David Kunce CFO, NMG Aerospace

PRESIDENT

Chris DiMauro ’99 President, Archbishop Hoban High School

The Rev. G. David Bline Director of Saint Mary Seminary and Graduate School of Theology, Borromeo Seminary

Traci Buckner Executive Director, Akron Children’s Museum

Richard C. Fedorovich ’70 Executive Chair, Bober Markey Fedorovich

Brother Kenneth Haders, CSC Provincial Superior, Midwest Province, Brothers of Holy Cross

Stephen Hammersmith Partner, Buckingham, Doolittle & Burroughs, LLC

Angela (Spitaleri ’95) Ianiro Executive Director, NOIA, PAS Publishing

Dr. Richard May ’79 Physician Managing Partner, Northeast Ohio Nephrology Associates, Inc.

Derrick B. Owens ’89 Vice President of Government Affairs WTA–Advocates for Rural Broadband

Dr. Kathleen Piker-King Professor Emerita, Sociology University of Mount Union

Dr. Brian Reilly ’05 Physician, Akron Children’s Hospital

Jeffrey Salamon President, Lumis Marketing

Joseph P. Siegferth ’70 Policy Consultant, NEOLA, Inc.

Arthur P. Sunday Vice President of Sales, The House of LaRose, Inc.

DIRECTORS

EMERITI

William H. Considine ’65 Director Emeritus, Akron Children’s Hospital

Alice Maher Luse ’76 Retired, American Heart Association

Rev. Paul J. Rosing Pastor, Holy Family Parish

David Showers ’64 President, Strausser Development