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The 2011-12 school year was a continuation of last year’s renewed financial stability in spite of negative economic indicators and extreme volatility in the financial markets. Another strong admissions year resulted in our being over-enrolled. Alumni participation in the Annual Fund increased more than three percentage points to 46 percent. We have strong cash flow and ample liquidity. Our endowment ended the year at its highest yearend level ever at $170 million.  In order to take advantage of the low interest rate environment, we refinanced our 2003 Series bonds, which resulted in a savings of $1 million over the life of the bonds or about $49,250 per year. We continue to enhance our physical plant.  This spring we began construction on Townsend Hall, an $18.5 million project that will be completed in time for the 2013-14 school year.  It is a new 30,000-square-foot academic wing which will replace the West Wing as well as the kitchen.  In addition, parts of Hoxton House will be renovated. We began this construction project with 100 percent of the construction costs raised or committed. We are focused on the value proposition and understand that we need to achieve superior results in all areas of the School’s operations. As I have said many times before, Episcopal High School is a special place. We have students of purpose, a caring faculty, and a dedicated staff who all strive to make this the best school possible.  Thank you to everyone for everything you do.

Operating Revenues and Expenses Revenues 2011-12

Gross Tuition • 64%

Gifts • 8%

Endowment Draw • 15%

Other Income • 3%

Foundation Support • 10%

Gross Tuition . . . . . . . . . . . . . . . . . . . . . . . $19,609,237.50 Endowment Draw . . . . . . . . . . . . . . . . . . . . . 4,745,000.00 Foundation Support. . . . . . . . . . . . . . . . . . . . 3,052,306.73 Gifts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,587,343.84 Other Income . . . . . . . . . . . . . . . . . . . . . . . . . 900,343.82 Total Revenue. . . . . . . . . . . . . . . . . . . . . . . . . $30,894,231.89 Expenses 2011-12

Sincerely,

William Hunter deButts III ’76

Chief Financial Officer Treasurer

Salary & Benefits • 42%

Contract Services • 8%

Financial Aid • 14%

Capital Expenses • 7%

General Institutional • 9%

Plant & Utilities • 6%

Debt Service • 8%

Instructional • 6%

Salary & Benefits . . . . . . . . . . . . . . . . . . . . $13,137,053.08 Financial Aid . . . . . . . . . . . . . . . . . . . . . . . . . 4,392,061.06 General Institutional. . . . . . . . . . . . . . . . . . . . 2,731,035.10 Debt Service. . . . . . . . . . . . . . . . . . . . . . . . . 2,459,723.77 Contract Services. . . . . . . . . . . . . . . . . . . . . . 2,483,357.14 Capital Expend.. . . . . . . . . . . . . . . . . . . . . . . 2,148,901.96 Plant & Utilities. . . . . . . . . . . . . . . . . . . . . . . 1,879,094.03 Instructional. . . . . . . . . . . . . . . . . . . . . . . . . . 1,743,005.94 Total Expenses. . . . . . . . . . . . . . . . . . . . . . . . . $30,974,232.08 NET SURPLUS/(DEFICIT). . . . . . . . . . . . . . . ($80,000.19)

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Profile for Episcopal High School

2011-12 EHS Annual Report  

2011-12 EHS Annual Report

2011-12 EHS Annual Report  

2011-12 EHS Annual Report

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