Bannockburn Annual Report 2023-2024

2023-2024

Annual Report

Cultivating Curiosity, Nurturing Potential, Empowering Independence

TABLE OF CONTENTS 01 Our Vision and Mission 02 Bannockburn Independent School Update 03 Chair of the Board of Directors 04 The Board of Directors 05 Financial Update 06 Financial Summary 07 Bannockburn Parent’s Association Update 08 BPA Classroom Representatives 09 The Bannockburn Foundation 10 Thank you to our Donors

OUR MISSION Bannockburn develops responsible, nurturing, peaceful young people with self-esteem and respect for others. Bannockburn graduates are self-motivated, intellectually-curious students who love learning and who achieve academic success.

OUR VISION An excellent school, providing a well-rounded education for its students through the application of the Montessori philosophy, principles, and methodology.

A modest school, accommodated in facilities conducive to the Montessori principles.

A student body that benefits contributes to their school.

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A parent body that understands and supports the school’s Montessori philosophy, principles, and methodology.

A staff of qualified teachers and support personnel who contribute to the school through their knowledge, abilities, and love of their profession, who feel valued for the job they are doing and who work together as a team in the further development of the school.

A board of governors that provides stewardship for the school to ensure its future experience.

BANNOCKBURN INDEPENDENT SCHOOL UPDATE As I reflect on this past year at Bannockburn Independent School, I am filled with gratitude for the unwavering commitment of our students, parents, faculty, and staff. Together, we have strengthened our foundation, fostering an environment that cultivates curiosity, nurtures potential, and empowers independence.

This year, we celebrated milestones that showcased the dedication and resilience of our community.

As we bade farewell to our former Head of School, Meg Kahnert, our families placed their trust in Bannockburn’s faculty, staff, and Board to maintain the outstanding educational environment that has defined this institution for the past 30 years. Now, as we begin a new chapter, I am honoured to lead this warm and caring school community. I am deeply grateful for your steadfast support throughout my tenure as Interim Head and now, as Head of School.

Bannockburn experienced many exciting developments in 2023–24. We licensed all of our Primary classrooms under the Ministry of Education’s Child Care program, enabling us to maintain multi-age classrooms that embody the true Montessori philosophy. We successfully completed a school-wide air conditioning project. The launch of our first-ever school magazine, The Nest, was a tremendous success, providing an excellent platform to celebrate our many achievements and to share the stories of our staff, students, and alumni.

Our connections within the Toronto independent school community also deepened this year as we organized reciprocal visits with some of the larger independent schools where our graduates continue their education. The busy hum of Bannockburn reflects the continuous innovation and dedication of our teachers and staff, who work tirelessly to create meaningful and enriching experiences for our students.

Of course, none of this would be possible without the incredible support of Bannockburn families and donors. Your generosity and belief in Bannockburn’s vision of education empower us to strive for excellence in all that we do. Thank you for your trust and partnership in shaping the future of your children.

As we celebrate the accomplishments of this past year, let us look ahead with optimism and determination, united by our shared vision for Bannockburn. Together, we will continue to grow, innovate, and inspire.

With gratitude and best wishes,

Jacqueline Richman Head of School 02

CHAIR OF THE BOARD OF DIRECTORS The 2023-2024 academic year marked a period of transition for our school. Following the departure of our previous Head of School, Meg Kahnert, the Bannockburn Board of Directors, in collaboration with the Griffith Group Executive Search firm, initiated a comprehensive search to identify the right leader for the future of our school.

We greatly valued the input from both parents and staff throughout this process, as it was instrumental in shaping our decision. We were thrilled to announce in July 2024 that we appointed an exceptional new Head of School, Jacqueline Richman. Her transition into the role was seamless, and we are excited for the future of Bannockburn Independent School under her leadership.

Another change that took place, after careful consideration, was the decision to sell the Bayview Avenue properties, a sale that was finalized in October 2023. Evolving circumstances post-pandemic made it clear that it was no longer the most strategic path forward and in having sold the properties, the school is able to redirect resources that ensure a more sustainable future.

As part of our ongoing commitment to providing the best environment for our students and staff, the leadership team undertook an important capital project to upgrade the building’s air conditioning system. This included replacing several existing units and installing new ones in classrooms that had not previously been fully equipped. Given the scope of the project, a carefully structured protocol was followed to ensure all steps were considered. The project was successfully completed over the summer, and all air conditioning units can now be operated reliably and efficiently.

I would like to express my sincere gratitude once again to the entire Bannockburn community, including, but not limited to the Bannockburn Parents’ Association (BPA), staff, students, parents, and extended family members. Thank you for your invaluable feedback, contributions, and support. I encourage you to keep sharing your time and ideas with the school. Your dedication to our shared vision is what makes Bannockburn Independent School such a special place for our children.

Lisa Russell Chair of the Bannockburn Board of Directors

BOARD OF DIRECTORS Dynamic, involved, and dedicated are three words that describe Bannockburn's Board of Governors. Our Board members, who are all volunteers, have varied backgrounds, which allows us to create a Board that is rich in knowledge and perspective. Thank you for giving your time and wise counsel to our school. The significant commitment of our Board members helps provide a rich educational experience for our current students, as well as future generations.

Christina Sorbara

Lisa Russell

Jerry Maheras

Sue Rosenblatt

Lisa Bayrami

Christine Bernardini

Phil Gibson

Vas Papadiamantopoulos

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FINANCIAL UPDATE

As a not-for-profit corporation, Bannockburn is audited annually and a summary of the 2023-2024 audited financial statements is provided here.

In terms of assets, student enrollment increased in this fiscal year, as word continues to spread, in the new catchment area, of Bannockburn’s reputation for excellence in Montessori education, low student-teacher ratios, and highly skilled and dedicated educators. As a result, there was an increase in new student registration and tuition revenue. Long-term debt was eliminated and long-term assets remain solid.

Bannockburn also benefited from the strong interest rates on investments, which increased revenue significantly.

In terms of expenses, retention of teachers and administrative staff remained a high priority of the Board and leadership team. The teachers received an annual increase on the teacher salary grid, and administrative staff also realized an increase in compensation from the previous year. All staff also continue to be supported with a fulsome and fully-funded benefit package, normally only available to employees of large corporations. RRSP’s were also paid to employees, with no requirement to match contributions to receive them. As a result, Bannockburn continues to attract and retain highly qualified and dedicated staff.

On behalf of the Board of Governors, I would like to sincerely thank the members of the Finance Committee—Peter Ferrante, Derek Russell, and Christina Bernardini—for their dedication and financial oversight throughout the year. Their expertise and patient stewardship has been instrumental in ensuring the financial stability and growth of Bannockburn.

Sharon Robinson, Business Manager

FINANCIAL SUMMARY Summary of Statement of Financial Position

Assets

2024

2023

$ 3,078,174

$ 3,331,812

1,881,438

10,326,823

$ 4,959,612

$ 13,658,635

$ 2,971,862

$ 12,284,811

0

0

$ 2,971,862

$ 12,284,811

Unrestricted

1,757,255

-367,814

Invested in Property and Equipment

230,495

1,741,638

1,987,750

1,373,824

$ 4,959,612

$ 13,658,635

2024

2023

$ 4,602,268

$ 4,284,556

527,359

395,808

Total Revenue

$ 5,129,627

$ 4,680,364

Salaries, Classroom Materials and Other Student Costs

$ 2,912,233

$ 2,887,067

137,584

151,081

1,448,253

1,460,896

76,831

76,831

$ 4,574,901

$ 4,575,875

Current Long-Term

Liabilities

Current Mortgage Payable

Net Assets

Total Assets

Summary of Revenue and Expenditures

Revenue

Tuition and New Student Registration Other (School Programs, Facilities, Interest, etc)

Expenditures

Marketing, Communications and Development Facility, Administration and Other Costs Amortization of Capital Assets Total Expenditures

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BANNOCKBURN PARENT’S ASSOCIATION UPDATE The aim of the Bannockburn Parents’ Association (BPA) is to foster a strong school community while also raising funds to supplement our children’s education at the school. We strive to ensure that all parents and children feel welcome. We encourage parents to engage with and participate in our initiatives in order to achieve that goal.

In the 2023/24 school year, it was a pleasure to welcome so many new families into our Bannockburn community. Participation was active in our regular BPA meetings, our Backto-School Ice Cream Social and Movie Night, a Dance Party, and a post-March Break Magic Show.

Our Annual Holiday Sale was a wonderful event where we set up crafts, hot chocolate, and cookies for the children to accompany the sale items. It felt like a truly celebratory way to kick off the holiday season. In the spring, parents were able to come together again to cook and deliver waffles to the classrooms for the much beloved Valentine’s Waffle Party.

We also enjoyed hosting our successful Spring Sale.

The BPA helped to organize and run another great annual Fun Fair with inflatables, games, magician, DJ’ed dance party, face painting, music, raffles, and food trucks. We finished the evening with a movie and popcorn in the gymnasium where current Bannockburn students, alumni, and parents mingled.

Through these fundraising initiatives, the BPA was able to host the Family Skate at the Cricket Club, the maintenance of the aquarium in the foyer of the school, as well as fund some items for class wishlists for outdoor play. Our fundraising also contributed to a new covered area in the Toddler yard, which was built by Rocco Oppedisano, a parent in our Bannockburn community. We also brought back our popular parent-only social event. In the spring term, we gathered at K1 Speed for a friendly go-kart race. We thank Maggie Orenstein and Sonia-Lynn DeRocchis (BPA class reps), for planning this fun and wellattended night out.

The BPA sincerely appreciates the support of all parents who volunteered at fundraisers and events, attended BPA meetings, served as class representatives, and who gave input into BPA activities. We also owe tremendous thanks to Jacqueline Richman and all the teachers and staff who helped support our efforts.

We have enjoyed our second year as BPA co-chairs and look forward to new opportunities to continue to contribute to the Bannockburn community.

Christine Bernardini and Tracy Morgan BPA Co-Chairs

BPA CLASSROOM REPRESENTATIVES

TD1

PR1

PR2

Claudia Bernardo, Sonia-Lynn De Rocchis

Katie Follwell

Heather Trommels

TD2

PR3

PR4

Crystal Zhang

Lisa Russell Nadira Rambihar

Maggie Hong Zoherain Khalfan

LEL1

LEL2

UEL

Helen Overgaard Lisa Bayrami

Sonia-Lynn De Rocchis Leah Bloom

Anne Chan Jenn Hwang

THE BANNOCKBURN FOUNDATION The Bannockburn Foundation is a federally incorporated, charitable organization, created to support the furtherment of Montessori education at Bannockburn School. The Foundation provides funds for projects, programs, activities, and bursaries which are not funded by Bannockburn School’s normal operating budget. Tuition fees pay for the day-to-day operations of the School. Foundation funds are used to support facility upgrades, program enhancements, special activities, and bursaries.

Over the years the Foundation has gifted well over $500,000 towards these projects.

All classrooms within the School have benefitted from Foundation funds and all programs have been enhanced by Foundation. Donations allow the School to invest in itself and its future for the advancement of the education of Bannockburn children.

Bannockburn Foundation Board Members Stu Miller Sharon Robinson Aldo Forgione Dan Singer

THANK YOU TO OUR DONORS A strong sense of community is evident in the generous gifts of financial support and hours of personal time parent volunteers devote to the Bannockburn community. Bannockburn School gratefully acknowledges these financial contributions of community members between July 2023 and June 2024. Thank you for your continued support of our School.

Aleks Zemdegs and Denise Young Andrea Leung and James Jong Andrew Howlett and Nadira Rambihar Andon Agolliu and Linda Escorcia Bianca Girimonte and Daniel Pedra Bo Yang and Jing Lin Brian Lee and Li Qin Charlene Francisco Christina Sorbara and Kerry Weiland Claire Bai and Qun Wen Derek and Lisa Russell Fani Englezou and Vasileios Papadiamantopoulos Graham and Jamesina Lowe Guonan and Alan Yin Harris and Dinara Sukhera Helen and Christopher Overgaard Heather Trommels

Ilana Meyer Jason Leung Jeff Yeung and Jacqueline Wong John and Michelle Gagliano John Trang and Marisa Caple Jody and Ian Richardson Juvy and Andrew Rogerson Kushneryk Morgan LLP Naiomi Raichik Nelly and Alex Yuzbasiyan Niyanta and Ambrish Shah Patrick Sapphire and Yang Xing Rita Araujo and Justing Kutyan Rocco Oppedisano Siqi Wang and Michael Zheng Suhuyini Abudulai and Brock Wilimek Tongyi Wang and Nanyang Zhu Tracey and Eric Morgan Vicky Lee and Edwin Chiu Zack Fenwish and Monica Levitan Zhe Li Jiang and Jason Zhu

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Cultivating Curiosity Nurturing Potential Empowering Independence

CONTACT INFORMATION: Mail Phone Website

reception@bannockburn.ca 416-789-7855 www.bannockburn.ca

3080 Bayview Avenue, North York, ON. M2N 5L3