Report Card (2022-2023)

REPORT CARD

Learning For Life. Creating The Future.

2022 –2023

INTRODUCTION As we reflect on the past year, I am delighted to share the highlights of our collective journey. It has been truly remarkable to see the growth and development of our children over the past year.

There are so many things that make Pickering College distinct, but most importantly, our focus and our values define us—our educational program is not just about what our students learn but, more importantly, on who they become. We are united by a mission that instils in each individual the ability and responsibility to make the world greater, better and more beautiful than they discovered it.

In this Report Card, the key initiatives that defined our year are showcased: integrating technology, enriching outdoor education, and fostering experiential learning. These efforts align seamlessly with our work to help students see themselves as change agents in the world as the learning associated with each of these initiatives helps to bring students out of the classroom and into the real world where our young learners can be engaged in addressing the challenges that we face in society today.

Our commitment to technological advancement is demonstrated through our robotics programs, the establishment of a new cutting-edge Makerspace, and our exploration of innovative opportunities like the use of our new FarmBot. Using this bot, students explore the future of food production and tech-based farming as they use robotics and coding and see, first-hand, the influence that different plants have on the soil and environment. These initiatives underscore our dedication to providing a hands-on learning experience that enriches student learning.

Outdoor education also remains a cornerstone of a Pickering College education. Our goal, through this type of programming, is to instil a sense of curiosity in our students, as we encourage them to be creative innovators and environmental stewards who have a deep respect for the land we live and learn on.

Experiential education, the thread that ties everything together, propels our students beyond the curriculum, and ensures they are future-ready and engaged with their community. The approval of our in-house radio station, CHOP FM 102.7, to become a fully-licensed community station is a testament to our commitment to engage with our community in real and meaningful ways.

At a strategic level, we’re actively building, fundraising, and innovating. The construction of our new academic building, West Lake House, and our plans for campus redevelopment highlight our dedication to enhancing the student experience in multitudes of ways. Our successful fundraising endeavors, coupled with community outreach, underscore the pivotal role each of you play in shaping the Pickering College experience for our current students and for all those who will enter our doors in the future.

In closing, I extend my sincere gratitude to each of you for your unwavering support. As we lead in this transformative time for education, Pickering College stands as a beacon for positive change and a flagship for others to follow. I am honoured to be part of this journey with you.

Dr. Cinde Lock Head of School

OUR VISION To develop innovative, courageous and compassionate global citizens who take action, true to Quaker values.

OUR MISSION To instil in each individual the ability and responsibility to make the world greater, better and more beautiful than they discovered it.

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TOP

ENGAGED STUDENTS

373 +___ 102 475

OF THE CLASS

day students

boarding students

100% of our graduates accepted to the post-secondary institution of their choice

100

%

86

%

students JK - Grade 12

Grade 9-12 students on Head of School’s Honour List

PARTICIPATION RATES FOR

ANNUAL GIVING

91% of our 2023 graduates earned the Global Leadership Diploma 15% of our 2023 graduates received the Global Leadership Diploma with Distinction

100%

51.7%

Board Members

Corporation Members

54.7%

38.6%

1.4%

Staff

Parents

Alumni

OUR PARENTS SAY...

88%

of our graduating class are Ontario scholars

90

%

FULL SCHOOL RETENTION

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“Pickering College challenges our children to see beyond themselves and become the spearheads of change to help others and improve the world. It was important to us that our family shares the same values and purpose as Pickering College. And that is our shared desire to contribute to making the world a better place, filled with support, kindness and compassion. It is important for us that our children become leaders and be of service and the Pickering College Global Leadership Program in which servant leadership qualities are nurtured is truly –PC Parent inspirational.”

Pickering College is the first independent school in Ontario to become a full Member School in the UNESCO Associated Schools Network

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18

42

100

18% of our students receive financial aid

42 countries represented in our school community

100 community organizations served by our student and staff volunteers

AN INCLUSIVE AND GENEROUS SCHOOL COMMUNITY VALUED PARTNERSHIPS

12,756,536

$

TOTAL FUNDRAISING

2.9%

ANNUAL RATE OF RETURN ON ENDOWMENTS

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OUR APPROACH THE ROLE OF QUAKERISM AT PICKERING COLLEGE

reflect the educational context to say that “there is that of good in every person.”

Restated, this means a belief that there is a divine spirit in every human being and Pickering College was founded by the Religious Society of Friends, also known as therefore the belief that all human beings Quakers, in 1842. While we are not formally have equal worth and dignity. Sometimes a Quaker school today, we remain the only at Pickering we refer to this as “finding the light” within each child—that inner Quaker-founded school in Canada and potential that is waiting to shine upon the influence of their guiding values is the world. Hence, Quakers believe that immense. education is an “opening up” rather than a “filling up” and we therefore work with We live in an increasingly secular world; each student to find and express their our school prides itself on being multiunique qualities and passions. cultural and ecumenical. Today, we boast students from over 30 countries and Staying true to this Quaker approach a multiplicity of religious and cultural means: backgrounds. This is, and has been for years, one of the great strengths and benefits of a Pickering College education. • recognizing that there is good in every person, regardless of age, gender, and And yet our approach to education, and ethnic background; more fundamentally, our approach to how we reach out to our students and our • providing a high degree of caring, compassion and support; belief in what students can and ought to • developing a strong social consciousness; do in this world, is profoundly influenced • using consensus in decision-making; by the spiritual nature of our Quaker • emphasizing traditional Quaker values founders’ beliefs. In some ways, the role such as non-violence and simplicity, as of Quakerism has become so pervasive well as the school values of community, in everything we do and everything we compassion, integrity, respect and are as a school that we take it for granted. responsibility; and It guides our gathering in Morning • building our community through Meeting, our use of silence, our approach Morning Meeting. to decision-making, the strength of our community, the depth of our values, and Staying true to the beliefs and ideals the inspiration for our action. Yet in other deeply held by our Quaker founders ways, and for many parents, students, means continuing to be a school that alumni and staff, the understanding of combines academic excellence with moral Quakerism and the role it plays in our depth. All of these qualities are embedded school is a great unknown. in the Pickering College approach to The role of Quakerism at Pickering College education. is a unique and defining aspect of our If we are true to our Quaker roots, our school. Retaining a close relationship students will be taught, and will come with our Quaker heritage provides a to exemplify, the belief that they are to philosophical, moral and operational framework for our planning and decision- be seekers of those universal principles and values—as articulated in our Guiding making.

Values, Traits and Guiding Principles— While the basic tenet of Quakerism is that during their time at our school and, more importantly, once they leave our “there is that of God in every person,” many people at Pickering share a different protective shelter and go forth in the world as leaders, ready to change the interpretation and belief in God. For that reason, we change the wording slightly to world.

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TRAITS: WHAT WE DEMONSTRATE Acceptance – We recognize, accept and celebrate the wide range of human qualities and attributes within our community such as ancestry, culture, ethnicity, gender, gender identity, gender expression, language, physical and intellectual ability, race, religion, sex, sexual orientation and socioeconomic status. This acceptance of diversity means embracing the tension that diversity may initially bring and valuing the challenge of the encounter and the difference of the other person, culture, or perspective.

Accountability – We believe in living consistent with our values. This means speaking the truth to all, including people in positions of power, and to each other, even when it is difficult and our message may be unpopular. We deal honestly and fairly with peers and colleagues. We take responsibility for our actions and their results. We fulfill our commitments, and we give credit to others for their contributions.

Courage – To demonstrate courage is to be afraid of doing something, but doing it anyway. Courage is a daily occurrence whereby we express what we believe in and act in a way that demonstrates our values. It means speaking the truth to our hopes, and fears, and aspirations and ambitions. To be courageous means exposing our vulnerabilities, our worries and our fears; demonstrating caring and compassion and respect by being ourselves—authentic, unprotected, and genuine.

Creativity – We inspire those with whom we work to develop or do something original, to turn their ideas into reality and to bring greater value and meaning to themselves and to others. Creativity may be the most precious resource we have in our future, for it is unlimited, renewable and omnipresent. It is a learned skill and mindset that takes hard work, self-discipline, and regular and routine focus.

Curiosity – We instil a sense of wonder by constantly asking questions. Questions make us more thoughtful, intelligent and caring; questions build relationships with people; questions get the other person to think, and focus attention on them; and questions remind ourselves of the ideals we seek to attain. Thus, our approach is experiential: it must be lived and acted upon for real effect ... it is not just about beliefs—it must be experienced, observed and reflected upon.

Excellence – We know that humans are born with an infinite capacity for good, which can be nurtured and developed through education. Thus, we believe in always searching for the very best in ourselves and inspiring it in others.

The whole community works together with each person recognizing the special position held by others and the contribution required from each for the perfection of our common lives.

Stewardship – We strive to use the gifts we have been given wisely, including not only material wealth, but more importantly, our talents, our good health, our wisdom and insights and, of course, our natural environment.

Trust – It is a foundational belief that we must always deal honestly with all others as well as with ourselves, summarized by the old Quaker injunction, “Let your yes be yes and your no be no.”

GUIDING PRINCIPLES: HOW WE WORK Collaboration – We believe that each person is to be valued and respected for their capacity to contribute to a more complex understanding of something being studied than any one could create individually. This leads to being open to a full range of voices; being comfortable with disagreement, accepting complexity; and an openness to new learning.

Consensus – Consensus decision-making is grounded in the belief that when several people come together they can find an answer that exceeds the reach of any one individual. In consensus

decision-making, the group does not simply vote to determine the majority view, but rather they seek unity about the wisest course of action.

Innovation – We are committed to teaching and learning about developing new strategies and sustainable concepts to meet social needs through enabling solutions based on mutual sharing and capability. Thus, social innovation is a new solution to a social problem that is more effective, efficient, just or sustainable than existing solutions and for which the value created primarily supports society as a whole rather than private individuals.

Equality – We believe that all people are equal, all people have equal access to pursue the truth and all people possess the same divine spark within them.

Non-violent Resolution – Seeking peace is anything but passive. In our engagement with the world, we not only speak out to condemn injustice, but we teach that, when necessary, it might be required to engage in non-violent action or even civil disobedience to bring about justice and sustainable peace in the world.

Peace – We oppose violence in all forms a nd refuse to engage in the violent resolution of conflict. In pursuit of a lasting and sustainable peace, we seek to eliminate causes of violent conflict, such as poverty, exploitation and intolerance by forthrightly and non-violently confronting evil and oppression.

Silence – Gathering in silence is based on t he belief that when a group settles into silence, it feels like more than a simple quieting down; the sense of collective thought deepens. It is the belief that if one opens one’s heart and listens, one can hear what is right, and can live out these inner teachings. Silence is often used to settle into a meeting, to invite reflection, or to make way for deep thinking.

Simplicity – We strive to “clear away the clutter” to be more ready to hear the important and to live out the idea that “less is more.”

VALUES: WHAT IS IMPORTANT TO US Community Community is gathering interconnected individuals whose collective actions create a sense of belonging and encourage participation, who accept and take care of one another.

Compassion Compassion is being sensitive to others’ thoughts and feelings and understanding and considering conflicting issues and ideas. It is to show concern and caring for all others in the community, no matter their differences, in a way that creates harmony and peace.

Integrity Integrity is the courage to act honestly and truthfully in all actions.

Respect Respect is valuing yourself and others and the environment in which we exist, based on the principles of simplicity and equality, so that you treat others as you wish to be treated.

Responsibility Responsibility is being accountable for one’s own actions and behaviours by demonstrating good judgement and fulfilling obligations.

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PICKERING COLLEGE’S

STRATEGIC DIRECTION In the development of our strategic plan, the Board has reconfirmed our commitment to Quaker values as an important differentiator, providing an ongoing link from our founding to our future. The Board identified the ongoing role of the Global Leadership Program in building Pickering College’s reputation as a leader in education. Digital transformation, progress through disruption, identifying new sources of revenue, partnerships and innovation round out the commitments we are making to the future of the school and to our community.

Our winning aspiration is to be the first choice of school for families seeking a caring and experiential program in which their children learn how to lead a meaningful life.

TO BUILD, TO FUND, TO INNOVATE The plan is straightforward with three new overarching strategic choices.

To Build We develop facilities and facilities use to enhance stakeholder experience.

To Fund Our priority is to engage the community, develop revenue streams, and build brand awareness.

To Innovate We have a responsibility to envision the future of education and provide a transformative learning experience for our students.

On the following pages, there is a description of each initiative and the highlights of accomplishments from 2022-2023.

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BUILD Build • Actualize West Lake House ACTUALIZE WEST LAKE HOUSE

Providing best-in-class learning spaces is one of the highest priorities for the school, while continuing to ensure the long-term financial sustainability of Pickering College.

Highlights from 2022-2023 A warded Maystar the construction management contract for our $46.2 million build of West Lake House  Launched the project with a full community event  Began construction in April 2022 with a completion target date of February 2025  T endered 70 per cent of construction and on track financially

• Plan Blue & Silver Farm development • Plan redevelopment of existing facilities

PLAN BLUE & SILVER FARM DEVELOPMENT

Thanks to the generosity of the late Charles F. Boyd, teacher, coach, mentor, advisor and alumni ambassador, Pickering College was bequeathed his beloved Blue & Silver Farm.

Highlights from 2022-2023  T ransfer completed of ownership of the Blue & Silver Farm to Pickering College in April 2023  Undertook topographical, natural heritage, septic surveys as well as a land appraisal  Received a generous donation to enable the renovation of the farmhouse  Established

a partnership with the University of Guelph for Grade 9 Farm Development project and with soil/water testing

PLAN REDEVELOPMENT OF EXISTING FACILITIES

The redevelopment plan takes into consideration PC’s current master plan, deferred maintenance list, accessibility audit, existing infrastructure and high-level plans for the interior alterations of current spaces. The plan includes both academic and residential spaces.

Highlights from 2022-2023 C ompleted site visit with architects in January 2023  Undertook strategic facility planning with the Board, Senior Management and all staff in March 2023  Hired a sustainability consultant in June 2023 C ompleted 2022-2023 capital work including New House and Stage roof, IT capital replacements, etc.

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FUND RECONNECT AND ENGAGE COMMUNITY

Following two years where our community could not come to campus due to the COVID-19 pandemic, reconnecting and engaging our students, staff, parents and alumni was a priority.

Fund • Reconnect and engage community • Enhance strategic engagement to amplify external school recognition • Continue financal growth

Highlights from 2022-2023 D eveloped comprehensive onboarding program for new students, staff and parents  I ncreased parent engagement through events such as PCA socials, coffee socials for our Chinese families, fall and spring PCA walks, the Holiday Boutique Soirée, Spring Luncheon, H2O Beyond the Reef Gala, and the Charles F. Boyd Invitational Golf Tournament  Increased alumni engagement through Reunion Weekend, alumni events in Toronto, London, and Newmarket, and alumni, past parent, and current parent events in Hong Kong, Tokyo, and Barbados. Hosted on-campus basketball and volleyball games, and numerous alumni visits  Strengthened full-staff community through welcome reception, pumpkin carving contest, family and staff holiday party, gourmet treats and hot chocolate station, staff bingo and annual year-end staff BBQ  Facilitated staff to pursue a range of professional development activities associated with their goals and school goals  Enhanced sharing of ideas across divisions through the Global Leadership Program review process

ENHANCE STRATEGIC ENGAGEMENT TO AMPLIFY EXTERNAL SCHOOL RECOGNITION

Pickering College’s brand is a living business asset, designed to enhance the connection between the school and its key audiences. It is brought to life across all touchpoints which creates identification, differentiation and value.

Highlights from 2022-2023  E nhanced community relations through attendance at key events to support academic student leadership, business partnerships and community engagement including: Newmarket Chamber of Commerce, Portraits of Giving, York Region Chair’s lunch, Newmarket African Caribbean Canadian Association, Lafontaine-Baldwin Youth Conference, Aurora Salvation Army, and partnership with TelMAX. C reated the Global Leadership Program community awards and launched the new Alumni Keystone Award  Grew enrolment to 373 day students and 102 boarding students

CONTINUE FINANCAL GROWTH

To ensure financial sustainability of the school, it is important for Pickering College to find, build and sustain relationships and processes that result in long-term fundraising success.

Our ability to generate new revenue from sources and markets that would not normally be considered Pickering College students is another key priority.

Highlights from 2022-2023 C ontinued to build a culture of philanthropy with $12,754,226 raised in 2022-2023 U ndertook prospect identification for major donors  Launched a new cloud-based fundraising and donor management system (Raiser’s Edge NXT®)  Created new revenue generation by establishing the ESL Boarding Academy  Grew our auxiliary programs including the GLP Summer Camp, ESL Summer Camp, Day Camps and the launch of a new Middle School Day Camp 10

INNOVATE REVIEW AND ENRICH THE GLOBAL LEADERSHIP PROGRAM

At Pickering College, mission-appropriate students and other learners and staff independently drive forward projects for lasting global impact, engaging with all members of the PC community and other broader communities in mutually beneficial relationships.

Highlights from 2022-2023 C ompleted full organizational review of the Global Leadership Program including the academic program, co-curricular components, community engagement and service elements  Showcased the Global Leadership Program through internal and external communications with a focus on student success  Established the Pickering College Impact Incubator program that accelerates and launches students who have an innovative, viable idea to develop a product to address a significant local or global issue

DRIVE DIGITAL TRANSFORMATION

At Pickering College “drive a digital transformation” means that we will leverage the opportunities presented by technology to enhance student experience, community experience (staff, parents, alumni, partners, donors), steward existing relationships, realize new customers and relationships, and raise the organization to new levels of effectiveness and efficiency.

Highlights from 2022-2023  I mplemented PowerSchool (PS), the new student information system, with attendance, report card, Ontario reporting, and on-line course requisition modules  Launched a new cloud-based system, Raiser’s Edge NXT®, a fundraising and donor management, and new camp registration system, CampBrain  Completed analysis of ISTE standards and drove the development of a Technological Strategic Plan for Academic Program  E stablished a Makerspace in Rogers House regularly used in all divisions  Began the Cybersecurity Maturity Assessment to understand our current security posture, including five Cyber Security Trainings and six phishing campaigns for staff

Innovate • Review and enrich the Global Leadership Program • Drive digital transformation • Forge strategic collaborative partnerships

FORGE STRATEGIC COLLABORATIVE PARTNERSHIPS

An efficient, systematic process exists that continually scans the environment for potential partners who can work collaboratively with PC to support the development of a mutually beneficial approach that supports our Global Leadership Program, facilities development and generates financial results.

Highlights from 2022-2023 D eveloped informal collaborations with Norval Outdoor School, Lakefield College School, and other forest schools to support farm development  Developed connections to Newmarket African Caribbean Canadian Association  Built and set up Farmbot to work with the Green Team to run farm-to-table activities in fall of 2023 W orked with University of Guelph agricultural and forestry faculty to support the outdoor learning space design experience in the Grade 9 Global Leadership Program  Worked with Friends Of Simon Wiesenthal Center For Holocaust Studies, one of Canada’s leading human rights and social advocacy organizations  Continued involvement with UNESCO and Facing History and Ourselves  S tarted a FIRST Robotics team that placed 33rd in the province and worked with the Newbotics Team to promote Pickering College throughout the region

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INSPIRED STUDENTS

GLOBAL LEADERSHIP PROGRAM HIGHLIGHTS

During the Pillar Years Launch, students faced three challenges requiring skills from the four Middle School Pillars: Adventure, Community, Wisdom and Freedom. They discovered hidden talents like juggling and hula hooping and, for the final challenge, built a fire tall enough to burn through a rope using scavenged materials.  The Grade 6 class spent a week examining and researching how social media can be used to promote mental and physical wellness topics for Middle School students. They used the design-thinking process to create social media prototypes and presented them to a panel of judges.  At PC’s annual Middle School Public Speaking Tournament, students presented 3-to-5 12

minute persuasive speeches and interpretive readings, showcasing public speaking techniques learned in class.

A diverse panel of judges, including faculty, staff, alumni, and members of the board and corporation, inspired competitors and highlighted the importance of effective communication.  For Middle School Service Day, students launched Blue & Silver Farm’s first garden project, planting potatoes, corn, squash, sunflowers and more. At the garden, students will study sustainable agricultural techniques, soil quality, irrigation, and plant biology.

Students also removed invasive garlic mustard to support an Intergenerational Fireside Circle.  Grade 10 students visited

Newmarket Community Centre to work on the theme of social justice for their Global Leadership Program project, with the goal of widening their perspectives on people from different backgrounds and classes.

One activity was to write questions on a photo related to the theme.  Grade 9 students visited Dogwood Forest School in Port Perry to discover key considerations when designing an outdoor learning centre. Concepts such as roof pitch, directional exposure, trail width, and building materials were discussed, with students learning the benefits of intentional design.  Grade 10 students enjoyed a community walk to learn about examples of local social justice organizations

Program PLACE (Partnering for Local Action and Community Engagement) projects. They researched social justice issues, chose organizations working locally to address them, and gave pitch presentations.

Judges selected one group from each class to receive a $500 donation to their organization.  working to provide services to those in need. Students visited Community Living, Inn From the Cold, and the Newmarket Food Pantry’s community fridge.  Grade 11 students tested lunar landers constructed during a design and build activity, while Kindergarten and Grade 1 students observed. One young audience member said she wanted to be an astronaut; another claimed he knew how to build a spaceship.

Senior students enjoyed being role models and

demonstrating leadership.  Grade 12 students are beginning to implement Global Leadership Program action plans for positive impact. They proposed project ideas, drafted action plans, identified success criteria, contacted experts, and took first steps toward execution. New this year, some students worked in groups after demonstrating how it would benefit the project.  Grade 10 students presented their Global Leadership

Pickering College hosted 70 guests to learn about sustainability from Joe Brewer, Earth Regenerator, Barichara Ecoversity, and Dr. Dan Longboat, Associate Professor in the Chanie Wenjack School for Indigenous Studies at Trent University.  Grade 12 students Shyam Subramanyam and Brooklyn Tobias hosted Sustainable Stitches, an event designed to draw attention to the ethical and environmental implications of fast fashion. The event 13

INSPIRED STUDENTS

GLOBAL LEADERSHIP PROGRAM HIGHLIGHTS showcased talented and hardworking designers from our community to highlight sustainable fashion choices.  Grade 9 students engaged with James Bleakley, General Manager at Piloti Shoes, who took the students through the design process to help them design an eco-friendly outdoor learning space at Blue & Silver Farm. In groups, students took a deeper dive into their ideas and began forming their preliminary budget.  Grade 10 students explored culture in a GLP workshop, and their hard work on GLP PLACE Projects was acknowledged. Winning pitch competition videos were screened, and representatives of Canadian Centre for Men & Families, Community Living of Central York, Down Syndrome Association of York Region and Jack.org received $500 grants. 

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Grade 11 students explored how data can be gathered, analyzed, and represented (or misrepresented) to strengthen an argument.

They were joined by a virtual panel of PC alumni who shared their experience with the GLP program and how it has been beneficial

to their post-secondary experience.  Buoyed by GLP events such as Earth Regenerators, Sustainable Stiches, and Indigenous Peoples’ Atlas of Canada, Grade 12 students wrapped up their action projects by analyzing data to measure impact and working on pitches for their final Capstone presentations.  In an inaugural ceremony, the Class of 2023 received an alumni tie and pin to wear during their final months at PC. Brooklyn Tobias ’23 and Shyam Subramanyam ’23 led the alumni tie creation. PC is pleased to continue the tie and pin tradition every year in the fall term.  As the culmination of their year-long Global Leadership

Program project, Grade 9 students presented concepts for an ecofriendly, innovative outdoor education facility for Blue & Silver Farm. The facility was to reflect the needs of the Pickering College community while demonstrating innovative and creative sustainability practices in design and construction.  During their final GLP Day, Grade 11 students visited the Bata Shoe Museum, where they immersed themselves in fast fashion and witnessed how an organization has tackled this global issue.

Students pitched shoe design ideas, explored the history of footwear, and experienced its future through cutting-edge VR technology. 

PC held its seventh annual Capstone Pitch Competition, where students pitch innovative action-based solutions to issues of global significance.

Congratulations to Grade 12 students Tom Chen, Chen Liang, and Chris Yu, whose “Puma Tutoring” Capstone project received a $1,000 prize donated by Miller Orthodontics!  A special congratulations also to Capstone project finalists Bryan Jiang, Brooklyn Tobias, Shyam Subramanyam, and Elena Meshkar for their impressive projects focused on child abuse awareness, sustainable fashion, and hygiene product donation for homeless shelters.  Thank you to Capstone Pitch Competition volunteer judges Janis Luttrell,

Vice-Chair of Newmarket African Caribbean Canadian Association; Victor Woodhouse, Ward Councillor; and Dr. Cinde Lock for providing such insightful feedback to our student global leaders.

The Strategic Partnerships Committee launched the

PC Impact Incubator to accelerate and launch students’ innovative, viable ideas for products that address significant local or global issues. Five Grade 12 students formed the first cohort: Thomas Bianco, Moira Boland, Coco Cao, Sonya Kovtun and Morgan Podd.  15

INSPIRED STUDENTS

STEM HIGHLIGHTS Students participating in the design and build co-curricular activity put their creativity to work using EV3 Lego Mindstorm kits to design, build, and code robots; creating vinyl decals using Cricut Design Studio; coding on Scratch; and designing on TinkerCad followed by printing on the 3D printer.  Mr. Au Yong’s Grade 5 class demonstrated the testing phase of their design and build challenge. Students were tasked with creating a single, stable, selfsupporting structure, with a minimum height and limited time and resources.  Grade 4 students took a trip to NewMakeit where they built their very own birdhouses! Before gluing everything together and painting their creations, they observed how the Epilog laser cut the pieces.  In the biology unit of Grade 8 Science, students learned the different components of plant and animal cells, made cell models out of craft materials, and labeled the parts of the cell, as part of their ongoing investigation of the characteristics of living things.  16

Grade 11 students performed a lab activity to test the physical properties of some mystery compounds. By observing the compounds’ melting point, solubility in water, and other physical properties, they were able to identify them as either ionic or molecular compounds.  To learn about stem cells, cell differentiation, and cell specialization, Grade 10 Science students created models of the stages of early development. They constructed a morula, blastula, and gastrula, and applied descriptive terms

to the type of stem cells at each stage.  Grade 11 Psychology students developed a model to identify specific structures of the human brain. The students researched and analyzed various psychologists and their theories to make connections between specific parts of the brain and human behaviour.  The Grade 10 Science class participated in a crosscurricular STEAM (Science, Technology, Engineering, Arts, Math) activity inspired by the work of biologist and artist Ruben Sandoval.

As an introduction to stoichiometry, the Grade 11 Chemistry class made the “ideal s’more” with two graham crackers, one marshmallow, and four pieces of chocolate. They explored molar ratios and theoretical yield while also enjoying a sweet treat!  The Grade 11 Chemistry class heated magnesium in a crucible to help it react with oxygen gas in the air, producing magnesium oxide. They were able to calculate the percentage composition of magnesium oxide and the empirical formula of the compound.  Students viewed slides of animal tissues using a microscope, took photos of what they saw, and learned how to tessellate their images using Photoshop. 

The Grade 11 Chemistry class became familiar with lab equipment, such as burettes and pipettes, and learned to successfully

titrate an acid solution of unknown concentration with sodium hydroxide. The goal was to achieve a very light pink-coloured neutral solution.  Grade 10 Science students undertook a design and build challenge to keep penguins cool amid melting ice and warming oceans.

They built model huts housing ice cube “penguins”, applying learnings about heat transfer, radiation, convection, and conduction.

The models were tested in an aquarium with an overhead light simulating sunlight.  Grade 10 attended a virtual workshop on crime scene investigation hosted by the RCMP’s Heritage Centre.

Students worked with an RCMP investigator to

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INSPIRED STUDENTS

STEM HIGHLIGHTS examine a crime scene, and learned how the Canadian Integrated Ballistics Identification Network examines bullets from crime scenes and other forensics techniques.  Senior School celebrated STEM week with Nerdle, a daily math problem, a science photo contest, coding challenge, and annual Advisor Group Design and Build Challenge.

This year’s task: build the tallest tower able to support a 500 mL can using 30 pieces of paper and a roll of tape. 

Grade 11 computer science students tested their Eighty-three students in coding skills with a Python Grades 9–11 wrote the program to play RPSLS, Pascal/Cayley/Fermat math a variation of the game contest developed by the Rock Paper Scissors with University of Waterloo. two additional options, About 50,000 students take Lizard and Spock. Students part worldwide. Many PC devised winning strategies students finished in the top to output their next moves 25 per cent of all contestants and tested their programs in in Ontario.  a double-elimination class tournament.  Anthea Huang and Phoebe Kuang earned a place on Students from the the provincial honour Newbotics team visited roll for the Pascal/Cayley/ MegaLab Group Inc. in Fermat math contests.

Aurora with Malcolm Boyes, Anthea placed 42nd of 7,295 a team mentor. They were Ontario students in the encouraged to connect Pascal contest and Phoebe the skills developed on placed third of 5,760 Ontario their FIRST Robotics team students in the Fermat to real-world applications, contest.  including in the workplace, 18

and explored how these skills might be applied in PC’s new Makerspace.  Senior School students attended the Toronto Youth STEM & Innovation Conference, covering topics on molecular genetics, Hut 8 bitcoin mining, and data engineering. Students also listened to innovation challenge pitches that focused on improving education through technology.  Several PC students attended the Shift23 Business Conference hosted by Newmarket’s Chamber of Commerce. They heard guest speakers, networked with community members, and

explored new perspectives on business and the importance of boldness. Topics included marketing, selling your business through storytelling, investing in employer brands, and the future of AI.  Students participated in a brand new co-curricular Design-Build Club. They worked at NewMakeIt, a local maker space, to build, wire, and code robot vehicles to follow a maze.

They learned how to solder,

assemble circuits, and code Arduino components.  The FarmBot extracurricular project aims to teach students about agriculture, sustainability, and software development, with a goal of growing vegetables to serve in the dining hall.

Led by Senior School Science teacher Vanessa Poehlmann, the Green Team constructed a garden bed and began assembling and programming the FarmBot

robot.  Students explored Canada’s coastal regions and marine ecosystems with the Canadian Geographic Oceans map, which uses high-resolution satellite imagery and topographic data to accurately depict the ocean floor and surrounding land masses. Its augmented reality capabilities create an immersive and interactive learning experience for students. 

19

INSPIRED STUDENTS

EXPERIENTIAL LEARNING HIGHLIGHTS

Kindergarten students attended a workshop about wampum belts and treaties with guest speaker Brian Charles of the Chippewas of Georgina Island First Nation.

He shared stories about the collection of beautiful wampum belts that he had brought with him, as well as delicate shells and jewellery created from them.  The Grade 1 class visited the West Lake House construction site, where they had the opportunity to ask Maystar representatives questions about the build.

By connecting directly with their inquiry about structures and building projects, students gained insights into what goes into a development like this.  20

Grade 8 French students bolstered their reading comprehension, math, science, and culinary skills and knowledge by following traditional French recipes.

They learned about French culinary culture and gained appreciation for careful leadership and precise reading comprehension; teams that followed the

instructions closely ended up with tastier rewards and sweeter treats.  The Grade 6 class engaged in cross-curricular outdoor education lessons that seamlessly integrated French and social science. One project involved the intricate process of cleaning, tanning, and stretching fish leather. 

basketball, where the Senior School student team cruised to a 9–0 victory over the faculty team.  Grade 10 and 11 Drama classes created and presented an original production to the JK through Grade 2 classes. Their play Kid Garden is a whimsical look into the imaginations and aspirations of a Grade 2 class. The audience asked insightful questions and learned about props, preparation, and scene choreography. 

In Grade 9 Healthy Active Living, students learned the skills required for three different Paralympic sports: wheelchair basketball, goal ball, and sledge hockey. At Morning Meeting there was a Grade 12 English classes welcomed Dean Gessie, spirited game of wheelchair

author, poet, and former PC faculty member, for a day of creative writing workshops and a special Senior School Morning Meeting where he was interviewed by Dr. Lock.

Students read and discussed his award-winning poem [sic]stemic, which highlights systemic racism.  Canadian jazz composer and professional trombone player Christian Overton visited PC. Students in the senior jazz band and Grade 11–12 instrumental class explored the importance of their role within an ensemble, focusing on diaphragmatic breathing, dynamics, 21

INSPIRED STUDENTS

EXPERIENTIAL LEARNING HIGHLIGHTS articulation, tuning, and how to effectively communicate with an audience through performance.  Grade 10 students participated in a virtual tour of the Woodland Cultural Centre, led by guide Lorrie Gallant. They explored 140 years of history of the Mohawk Institute Indian Residential School and engaged in a Q&A session with one of the centre’s facilitators, enriching their understanding of this historical institution.  Grade 10 English students gathered around fire pits to learn about the teachings of the medicine wheel and engage in meaningful conversations while building their understanding.

Students learned that quiet, reflective experiences like these can lead to significant rewards in education.  Guest speaker Andy Réti, a child Holocaust survivor born in Hungary in 1942, offered a poignant firsthand account of the horrors faced by his family at the hands of the Nazis, and how he and his mother survived. He later visited a Grade 10 Canadian History Class for a Q&A. 

22

PC students from Kindergarten to Grade 12

explored the Indigenous Peoples’ Atlas of Canada.

This giant floor map shows the locations of Indigenous communities, residential schools, reserves and more. The Royal Canadian Geographical Society developed the map with

Indigenous and ally educators from across Canada.  Gabriel Allahdua, the University of Guelph’s first Activist-in-Residence, visited PC to discuss the importance of being aware of injustice and taking action to create

positive change. He spoke about coming to Canada as a migrant worker and how that experience led him to seek improved working conditions for migrant workers.  Junior and Middle School students had a full day of fun, beginning outdoors with horse-drawn wagon

rides, making maple taffy, and playing ice games in the arena. The day included a visit from Bonhomme Carnaval and a delicious French-Canadian lunch featuring tourtière.  Pickering College welcomed Jessica Johnson, advocate for media integrity and former

editor-in-chief of The Walrus, for a day of thoughtful discussion. Jessica shared her insights with students and spoke about her previous leadership initiatives. Her commitment to transparency and dedication to diversity and inclusion within the journalism industry was inspiring.  23

INSPIRED STUDENTS

EXCURSION HIGHLIGHTS

Grade 5 students immersed themselves in the life of Ontario’s first French settlement, Sainte-Marie among the Hurons in Midland, established in 1639.

They learned about the first interactions between Indigenous peoples and European colonizers and missionaries. 

24

The Grade 2 class went to Blue & Silver Farm to examine how soil, mud, plants, and animals prepare for fall and winter. Students collected samples from the pond and learned about the milkweed plant and animals that hibernate in the pond over the winter. 

The Grade 4 class visited the sugar bush at the Kortright Centre for Conservation to learn how early Indigenous peoples in Canada lived off the land, including discovering sap and making maple syrup, and how their methods have evolved.

Students applied traditional Anishinaabe teachings to create their own maple sugar.  Colin Service, Director of Arts and Culture, and Bob Kwapis, Ward 5 Councillor, welcomed the Grade 5 class to Newmarket Town Council. Students asked questions about municipal

governance, the challenges of being a local politician, and issues that residents care about. They also visited the Mayor’s office for a chat. Grade 8 students embarked on a highropes course excursion at Treetop Trekking Barrie in the Copeland Forest.

Between climbs, students and teachers discussed the obstacles they had conquered and the challenges still to come. The trek left everyone with fresh appreciation for the benefits of outdoor learning.  Grade 8 students travelled

to St. Donat, Quebec for an unforgettable winter experience. This excursion immersed students in the French culture and language while they participated in outdoor education, music, and drama, and learned about the history and geography of the region.  Thirty-two PC students from Grades 7–9 visited

Costa Rica. Among the highlights, they swam at a waterfall; hiked through the rainforest; toured Arenal Volcano; soaked in hot springs; witnessed the region’s biodiversity in Manuel Antonio Park; and learned how Kids Saving the Rainforest are rehabilitating injured animals.  Grade 7 students immersed

themselves in French language and culture during a trip to Quebec City. They learned about the local history and geography while exploring historic streets and beautiful landscapes, including Montmorency Falls. Students also participated in the Martello Towers workshop and enjoyed dinner at a sugar shack. 

25

INSPIRED STUDENTS

EXCURSION HIGHLIGHTS

26

Grade 9 students enjoyed an outdoor learning experience for three days at Camp Tawingo on the shores of beautiful Lake Vernon in Muskoka. The intention of the trip was to build community within the grade, foster connections, grow friendships, and create memories that last a lifetime. 

visited Blue & Silver Farm as an extension of their sustainable ecosystems unit. The students identified invasive species and took many photos of native species. They collected soil samples that were tested back at PC for nitrogen and phosphorous content and pH. 

Grade 11 and 12 outdoor education classes went on a three-day backpacking trip to Algonquin Park. Students were divided into groups, with each responsible for carrying food, water, a tent, and sleeping bags. The students demonstrated teamwork and cooperation to encourage each other throughout the hike.  Grade 9 science students

Grade 12 English and Grades 9–12 Drama students attended a performance of Hamlet at the Stratford Festival, featuring Amaka Umeh, the first Black woman to play Hamlet in the festival’s history. Upon their return, students discussed how actors and the director make choices to shape meaning for the audience.  Grade 11 LEAP and Grade

12 recreation & leadership classes spent a rewarding day treetop trekking. This hands-on experience challenged students to push the boundaries of their comfort zones, communicate with one another, and work as a team to be successful.  Grade 9 students were welcomed to Humber College where they visited the Centre of Urban Ecology, an award-winning building in the Humber Arboretum.

They took a guided outdoor tour before venturing through the Sustainable Design Lab, where they learned about key features of the design process. 

together. PC later hosted the Sutton students, where they discussed Quaker values and the educational curriculum at Pickering College.

Students from both schools planned a joint leadership conference to explore Indigenizing democracy. 

During Black History Month, Grade 12 World Issues students participated in the World Affairs Conference at Upper Canada College.

Civil rights leader Martin Luther King lll spoke about racial freedom, justice, and equality. His message: “Be ashamed to die until you’ve done something to make the world a little better.”  The Grade 12 Kinesiology class visited Humber College Kinesiology Department’s Exercise and Lifestyle Management lab, where they measured levels such as anaerobic threshold

and VO2 Max, completed a Fundamental Movement Screen, and used an accelerometer to gather data on the speed of skills like a standing jump or bench press.  Four PC students visited Sutton High School on a short student exchange, where they experienced a day in the life of Georgina Island students, enjoyed homemade Three Sisters soup for lunch, and learned about the significance of three sisters crops and the ecological advantages of growing these plants

Two groups of students from Grades 9–10 and 11–12 spent ten days in Italy soaking up local culture in Florence, Venice (for Grades 11–12), Sorrento, and Rome. Among the highlights: spectacular art galleries, delicious food, fascinating historic sites, coastal vistas and delicious cappuccinos.  Nine senior school students travelled to Verbier, Switzerland to ski and snowboard in the Alps.

Some of the students took a day away from the pistes to visit the capital city of Bern, where they enjoyed the Communications Museum and some shopping.  27

INSPIRED STUDENTS

STUDENT SPOTLIGHT Grade 5 student Connor O’Leary competed in the international Buzz Welker Memorial Polo Tournament in Wellington, Florida. He was the youngest Canadian to compete at the U15 level.

Connor scored the winning goal to help his team capture the World Polo Championship. 

competed in the High School Market Simulation Challenge at the University of Toronto’s Rotman School of Management. They learned about stock trading and did their best to navigate a volatile system.

Congratulations to Shyam, who placed eighth of 150 participants! 

Grade 6 students Arjun, Hayley, Kayla and Sofia presented their Grade 5 pollinator garden action project at the Climate Action Youth Forum at the Aga Khan Museum in Toronto, organized by the Learning for a Sustainable Future organization. The organizers said they were excellent keynote speakers! 

Congratulations to Bella Zhang who won the Gold Key in the Scholastic Art & Writing Awards for her acrylic painting “In Plight.”

The awards recognize student achievement in the visual and literary arts in 28 categories, including drawing and illustration, photography, flash fiction, poetry, film and animation, journalism, and more. 

Eight Senior School students attended the CIS Thrive Student Leaders Symposium at Ridley College in St. Catharines.

They attended workshops on topics including raising school spirit, starting new clubs, and mentoring younger students. Young alumni speakers shared how their leadership experiences have continued to influence their lives. 

28

Javir Obhan, Ryan Francis, Owen Cassarchis, and Shyam Subramanyam

Grade 9 student Yawen (Mary) Liu won the 2022 Young Entrepreneurs Festival, an international competition that showcases students’ entrepreneurship skills.

Students are challenged to develop a business idea, market and promote it, with the goal of launching a business by the end of the competition.  Grade 11 student Helen Manke won the U20 Ontario high jump competition at the 2023 Ontario

Indoor U20 Athletics Championships. Helen set a new personal best of 1.63 m. Congratulations!  Senior School students Shyam Subramanyam, Carys Porter, Charlotte Jez, and Owen Cameron attended the CAIS Senior School Student Leadership Conference at Rothesay Netherwood School in Saint John, NB. Students participated in Model UN, social innovation sprints, leadership and teamwork activities, and heard from speakers including Olympic gold medalist Heather Moyse.  A group of Senior School students formed a co-ed volleyball team and spent time practicing outside of regular Co-curricular Program hours. They played in an 18-team tournament at Ajax High School, with all proceeds from tournament entry fees going to Lupus Ontario.  Congratulations to boarding students Helen Manke from Germany and Raul Mena Perez from Spain, this year’s Athletes of the Year. The award is given for skill and ability, commitment to competitive teams, and sportsmanship. Both

Helen and Raul should be very proud of their accomplishments. 

virtual networking exercises. The team placed 146th out of 1,145 teams. 

Congratulations to Hannah Kim, this year’s C.R. Blackstock Award recipient. This award recognizes a senior student for their contribution to the spirit of Pickering College through athletics. Hannah has played on the soccer, volleyball, and ultimate frisbee teams, where she has been a model of determination and positive spirit 

Oscar Jiang, Grade 12, finished in second place at the Winter Fulford Debate Tournament. His efforts, combined with those of Mar Garcia in Grade 11, led PC to win the Fulford League Senior Trophy. 

Congratulations to Krypton Ni, Fred Shao, Chen Liang and Mike Xu for participating in the CyberPatriot high school cybersecurity competition, which challenges teams to find and fix vulnerabilities in Windows and Linux.

Competitors also answer questions and perform

Grade 11 students Mar Garcia and Sonya Kovtun were selected as semifinalists for the 2023 Speaker’s Idol competition, through the Friends of Simon Wiesenthal Centre for Holocaust Studies.

Sonya advanced to the final round following the semi-finals.  Pickering College took the Division II title in U14 Ultimate! With sheer determination and a never-give-up attitude, the U14 Ultimate team

fought their way from sixth place to first.

Congratulations on this well-deserved victory.  Three Pickering College Senior School students visited Brighton College in the U.K. for a two-week exchange program. They participated in classes and school life while enjoying cultural experiences in Brighton and London. They also spent a day in Poland visiting Holocaust sites, including Auschwitz.  29

FINANCIAL ACCOUNTABILITY

For the year ending June 30, 2023

OVERVIEW

The academic and fiscal year ending June 30, 2023 marked the return of all our programming and was a growth year for us with expanded enrolment. As we recovered from COVID-19, we had planned to grow our enrolment and auxiliary programs, and we exceeded both of those targets. We had some one-time revenue as well that contributed to an overall excess of revenue over expenditure that well exceeded our budget. With this excess, we were able to fund our increased capital expenditures in 2022/23 and will be able to provide some support to our 2023/24 capital projects.

We began the school year with an enrolment of 102 boarding students and 373 day students for a total of 475 students (budget target was 471 students). In 2021/2022 school year we had a total of 439 students (94 boarders, 345 day). The Boarding program returned to normal operations and was closed over Christmas and March Break but remained open throughout all the long weekends during the academic year.

STUDENT ENROLMENT

2022/23

373 +102 _ 475 day students

boarding students

total students 2022/23

345 +94 _ 439 day student

boarding students

total students 2021/22

2022/23

98 103 +274 _ 475 junior school middle school

senior school

total students 2022/23

2021/22

2021/22

101 84 +254 _ 439 junior school middle school

senior school

total students 2021/22

In September, for the first time, all staff returned to campus to work on site. We had a cautious return to full programming, but we were able to reintroduce many trips, more co-curriculars, all students and staff could eat in the dining hall and guests could return to campus. Reconnecting and engaging our community was a focus for the year. We also faced continued labour shortages throughout the year in various areas and sustained high inflation.

Overall, financially, our excess (deficiency) of revenue over expenses, before amortization, government subsidies, realized gains on long-term investments and the net change in unrealized gains on long term investments for the 2023 fiscal year was an excess of $1,181,223 as compared to the prior year excess of $412,927. This excess is important to the school as from this we allocate interest earned to our endowment and internally restricted funds, which totaled $266,216 and we funded $795,920 in regular annual capital projects. The remaining $119,087 has gone into unrestricted reserves. We are pleased with our overall financial results.

30

The 2023 audit was successfully completed by Grant Thornton. Please note that the auditors have provided a clean opinion.

During 2023, several capital projects were underway which resulted in a total of $4,478,324 of investment in property, building and equipment. Regular completed projects totaled $795,920, which included regular technology replacements, a replacement of the New House roof, the purchase of a mini-bus, renovated first floor of the Head’s house, Egan House lighting replacement to LED fixtures and a new school-wide student information system.

PC also incurred $3,682,398 in costs for West Lake House. The Finance Committee and Board reviewed the financial modelling to support the construction of West Lake House and approved a $46.2M build. Siteworks took place in December 2022 and construction began in the Spring 2023.

In addition, the Blue & Silver Farm was legally transferred to Pickering College in April 2023, so you will see an increase in our land value in our Fixed Assets.

REVENUE

In 2023, PC reported total tuition and other program related revenues of $21,349,389 on 475 students. This compares to $18,434,471 on 439 students in 2022.

In 2023, actual enrollment was 475 students consisting of 102 boarders and 373 day students. This was a significant increase from 2022 when we had 439 students of which 94 were boarders and 345 were day students.

We recruited 49 new boarding students (increased from 38 the year before) and that coupled with an 85% retention rate, resulted in a boarding population of 102. This growth continues to be on target to return to our regular 110-120 enrolment. We continue to maximize the day student population with the recruitment of 85 new day students and a 91% retention rate for a total day population of 373. Our Middle School grew by 19 students and our Senior School grew by 20 students. Of the $21.3 million in revenues, $19.6 million represents the tuition and fee revenue. This reflects an increase in tuition, an increase in enrolment and significant increase in enrolment and application fees.

In terms of diversifying our revenue sources, the national benchmark targets 90% of total revenue to come from tuition and fees and 10% from other sources. In 2023, parents paid tuition and fees representing 86.1% (85.5% in 2022) of PC’s total revenue. Auxiliary programs represented 6.6% (5.5% in 2022), investment income represented 1.2% (0.7% in 2022) and donations and fundraising revenue was 2.9% (2.9% in 2022) of total income. Rental and other income represented 3.2% (0.6% in 2022) of total income and the Canada Emergency Wage Subsidy represented 0% (4.8% in 2022) of total income.

During 2023, we continued to have a generous PC community, raising a total of $12,756,536 ($7,380,053 in 2022).

Our 2023 funds raised can be broken down as $494,465 raised through the Annual Giving events; $3,203,858 raised in restricted donations; $253,200 donated to endowments; $6,372,288 received in support of West Lake House. In addition, the Blue & Silver Farm was legally transferred to Pickering College in April 2023 at a value of $2,400,000 and Gifts in kind of $32,725were received.

Individual annual giving exceeded our target, but Special Events were below budget with the cancellation of the Road Rally event, and we only held a Holiday Boutique and Soiree, no in person Holiday Home Tour. We were able to have a Gala and a Golf Tournament. The support to the capital campaign for West Lake House was extraordinary in 2023 with multiple multi-million dollar gifts from the Rathlyn Investments Ltd., facilitated by Roger Warren ’51.

With respect to charitable giving at PC, our Board of Directors continue to lead the way with 100% participation followed by faculty and staff participation at 54.8% (58.9% in 2022), the Corporation at 51.7% (50% in 2022), giving by our parents at a participation rate of 38.6% (30.4% in 2022) and 1.4% (2.7% in 2022) of our alumni contributed.

...continued on page 33 31

STATEMENT OF OPERATIONS

2023

For the year ended June 30

2022

REVENUE Tuition and other program-related revenue Auxiliary programs

$

19,576,506

$

17,184,395

1,509,167

1,114,378

263,716

135,698

21,349,389

18,434,471

Rental and other income

729,677

114,046

Donations and fundraising

494,465

419,929

Amortization of deferred educational program contributions

146,245

168,498

22,719,776

19,136,944

Instructional and co-curricular programs

11,746,836

10,421,418

Instructional/residential/arena buildings maintenance & grounds

3,200,434

2,690,678

Advancement

2,318,945

2,072,043

Management, administrative and operations

1,980,350

1,849,050

Auxiliary programs

1,235,488

861,133

Scholarships and bursaries

1,056,500

829,695

Total

21,538,553

18,724,017

(Deficiency) excess of revenue over expenses before items below

1,181,223

412,927

-

968,891

1,181,223

1,381,818

(406,132)

(387,116)

66,274

66,860

-

1,313,011

335,458

(1,625,996)

Investment income from long-term investments

Total

EXPENSES

Canada Emergency Wage Subisdy

Amortization of property, buildings and equipment Amortization of deferred capital contributions Realized gain on long-term investment portfolio Net change in unrealized gain (loss) on long-term investments Excess (deficiency) of revenue over expenses for the year

$ 1,176,823

$

748,577

The above Statement of Operations is an excerpt from the complete Audited Financial Statements.

Complete Audited Financial Statements, including notes, are available upon request from the school’s Business Office.

32

...continued from page 31 Auxiliary program revenue increased significantly to $1,509,167 ($1,114,378 in 2022). The increase comes from the return of ESL Overnight Summer Camp, growth in the summer Day Camp and an increase in Hilltop Shop revenue, with the uniform requirements returning to requiring first dress. Boarding isolation camp was eliminated, and Experience Canada program was reduced significantly with the education system changing in our main target market. Rental and other income of $729,677 has exceeded last year’s income of $114,046. This increase included over $200,000 in interest income, with PC taking advantage of short term investment rates, as well as a return to renting our arena and facilities for almost $160,000, some one-time income included insurance expense reimbursements and tuition being recognized into income from COVID-19 deferrals.

Deferred educational program revenue represents the recognition of donations that have been given for specific purposes. In 2023, PC recognized $146,245 ($168,498 in 2022) in revenue from donations in support of the PC Power of Community and specific programs. The amount to be recognized varies from year to year depending on the donations received.

Overall total revenue (not including the realized investment gains or the Canada Emergency Wage Subsidy) has increased by $3,582,832 or 18.7% based on 36 more students, a tuition increase, increased one-time enrolment fees with a high number of new students, return of auxiliary programs, rental income, interest income and special events. Revenue is also $1.4M or 6.6% above budget.

REVENUE DATA

FARM

$2,400,000 CAPITAL CAMPAIGN

$6,372,288 RESTRICTED DONATIONS ANNUAL GIVING ENDOWMENT GIFTS IN KIND

$3,203,858

$494,465 $253,200 $32,725

TOTAL

$12,756,536 33

55

%

WHERE DID WE SPEND OUR MONEY?

PROGRAMS

5%

SCHOLARSHIPS

%

15

FACILITIES

%

11

ADVANCEMENT

%

9

%

5

ADMINISTRATIVE

AUXILIARY PROGRAMS

SCHOLARSHIP DATA DOLLARS AWARDED Percentage of boarding students on aid Average award—boarding student Percentage of day students on bursaries Average award—day student

34

2022/23

2021/22

$ 1,056,500

$ 829,695

26%

18%

$ 23,500

$ 22,059

8%

9%

$ 14,067

$ 14,797

EXPENDITURES

Instructional expenses totaled approximately $11.7 million in 2023 ($10.4 million in 2022). PC spends approximately 55%-60% of its total operational budget on direct instructional and co-curricular program costs with salaries and benefits representing 78% of that total. In 2023 we had a 3% salary increase and grid movement after a 2% salary increase in 2022. In addition, we implemented the first phase of a new boarding staffing model with equity adjustments to all boarding positions. The new boarding staffing model separates boarding staff from supply teachers to allow the boarding staff to focus on the evening and weekend boarding program. In 2023/24 the last phase of this new staffing model will be implemented. In addition, program budgets and actuals increased as programming returned and enhanced after the pandemic. Information Technology costs increased to reflect more software being used and increased costs related to security. Growth in food costs occurred due to an increased school population, the return of all staff to campus, labour shortages and high inflation.

Auxiliary Programs expenditures increased significantly to $1,235,488 ($861,133 in2022) as ESL Boarding Summer Camp was reintroduced. Day Camp had increased enrolment and as a result increased cost. The Hilltop Shop had increased revenue with a return to first dress and therefore increased costs of goods sold.

Scholarships and bursaries increased to $1,056,500 from $896,778 in 2022. In 2023, 26.5% (18% in2022) of boarding students and 14% (18% in 2022) of day students received some form of financial aid.

As our endowments grow, our ability to award more scholarships and bursaries will also increase. A healthy endowment and a strong financial aid program are a key strategy to attract and retain boarding students and potentially relieve tuition increase pressure and affordability concerns for families in the future. Focused attention on our fundraising and donations program is how we will increase our endowment funds.

Advancement costs (Admission, Development, Alumni and Parent Relations and Communications) have increased by $246,902 over last year, totaling $2,318,945 ($2,072,043 in 2022). We had a full year of recruitment and travel, increasing costs by $170K. In addition, we updated our marketing photography and videography, and undertook international alumni travel for the remaining increase.

Facility costs (instructional and residential buildings maintenance) for 2023 were $3,200,434 a significant increase from the $2,690,679 in 2022. We have begun to rebuild and undertake facility projects that we deferred. The insurance market continued to be unpredictable, and we saw increases in our insurance costs. Increased usage of our facilities and the loss of a government rebate resulted in our utilities increasing. Salaries increased 3%. It is important to note that we opted to continue with enhanced cleaning and sanitizing procedures in common areas as a best practice to support a healthy environment and as a result our supplies and cleaning costs continue to be high. The arena was back in operation this year, we had some operating costs for the farm, and we reinstated a full turf maintenance program.

Management, administration and operations costs were 7.6% ($131,300) higher than the prior year. This line includes costs in relation to the operation of the Head of School’s office, Assistant Heads, Business Office, Human Resources and Reception. In addition, school-wide infrastructure costs are charged here and professional fees, such as legal and audit fees are reflected in this cost centre. Staffing costs increased with a 3% cost of living adjustments and equity adjustments, legal fees, vacancy recruitment costs and staff recognition costs increased this year.

Overall, total expenditures have increased by $2,814,536 or 14.3 % in 2023 but were only 1.4% over budget ($303,444).

35

ENDOWED FUNDS

2023

As at June 30

2022

SCHOLARSHIPS AND MEMORIAL FUNDS 1985 bursary fund

$

100,100

$

100,100

Harry M. Beer memorial fund

322,834

337,132

C.R. Blackstock memorial fund

204,065

204,065

Richard Hayden memorial fund

25,000

25,000

Helen and Henry Jackman fund

179,126

179,126

Kirshenblatt and Miller fund

25,000

25,000

Gertrude L’Anson fund

35,000

35,000

Edward M. Lau ‘81 memorial fund

189,540

196,537

Joseph McCulley memorial fund

578,017

593,977

R.S. McLaughlin memorial fund

200,000

200,000

Harvey Ng bursary fund

103,517

111,817

Robert and Shirley Prittie bursary fund

321,445

346,153

Promise fund

174,363

172,218

Ed and Elizabeth Richardson fund

459,850

353,050

Gerry and Anita Smith fund

59,936

63,930

Spring Family scholarship fund

2,595,892

2,704,945

The Rathlyn Foundation fund

325,450

195,520

Peter Widdrington memorial fund

253,226

259,293

Barney Jackson memorial fund

148,958

148,958

Other

361,823

356,503

6,663,142

6,608,324

Allan Family fund

171,076

173,655

Keith “Booker” McLaren fund

126,850

129,839

Cyril Howarth memorial fund

10,804

10,804

Eric Veale memorial arena fund

208,287

195,105

Joshua Weinzweig memorial fund

109,682

110,755

Sturrup Family endowment fund

408,920

390,550

6,371

6,478

OTHER ENDOWMENTS

Other

1,041,990

1,017,186

SUB-TOTAL before unrealized gain (loss)

7,705,132

7,625,510

Unrealized gain (loss) on restricted endowment funds

(155,615)

(491,072)

TOTAL $ 7,549,517 $ 7,134,438

The scholarship and other endowment funds represent accumulated donations to the school that have been externally restricted for endowment. Some fund balances include accumulated interest that has not yet been awarded. As a result, there are times when a total fund balance goes down, if some of the accumulated interest is awarded. Funds with a balance of at least $25,000 are shown indvidually, and all of the other scholarship funds are grouped together as Other.

36

ENDOWMENTS

Endowments in 2023 grew by $253,200, most notably with growth of the Rathlyn Foundation Bursary and the Ed and Elizabeth Richardson Fund. Continued growth in the scholarship and bursary funds is one of the key strategies to continue to attract and grow the student population at PC. In 2022, 26.5% (18% in 2022) of boarding students and 14% (18% in 2022) of day students received financial aid. For the 2023/24 academic year, our boarding population has grown to 111 students, and while 20% have financial aid, the average award has increased from $22,059 in 2021/22 to $23,500 in 2022/23.

With the change in long-term investment portfolio managers in 2021, we expect our portfolios to need time to establish themselves and re-establish their annual income to a reasonable level. The regular long-term gross investment income earned during 2023 totaled $191,443, which was a rate of return of 2.9%. After management fees of $59,763 net investment income totaled $131,680 ($102,437 in 2022). As part of our ASNPO reporting, it should be noted that all the income earned on the long-term investments is recognized as income in the year that it is earned. The income is then transferred to the Restricted for Endowment purposes in the net asset section of the balance sheet. In addition, the change in the unrealized gain on the investments is also recognized on the Statement of Operations and transferred to the Restricted for Endowment net asset. The unrealized gain (loss) on investments was ($155,615) in 2023 improving from an unrealized loss of ($491,072) in 2022. In total, $295,619 ($195,616 in 2022) was withdrawn to fund awarded scholarships and bursaries and other endowed purposes.

SUMMARY STATEMENT OF FINANCIAL POSITION

2023

For the year ended June 30

2022

ASSETS Current assets Long-term assets

$

48,081,284

$

38,051,245

45,109,353

37,752,698

93,190,637

75,803,943

Current liabilities

23,733,001

19,687,846

Long-term liabilities

30,809,388

21,297,872

54,542,389

40,985,718

Internally restricted

5,471,544

5,337,008

Restricted for endowment purposes

7,549,517

7,134,438

Construction in progress

(8,302,033)

-

Unrestricted

33,929,220

22,346,779

38,648,248

34,818,225

$ 93,190,637

$ 75,803,943

LIABILITIES

NET ASSETS

The above Statement of Financial Position is an excerpt from the complete Audited Financial Statements.

Complete Audited Financial Statements, including notes, are available upon request from the school’s Business Office.

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LIQUIDITY AND NET ASSETS

The school’s cash and cash equivalents have increased over last year. Our overall cash and cash equivalents totaled $46,668,879 as at June 30, 2023 ($36,605,901 in 2022). Cash continued to increase with successful fundraising in capital and restricted donations, and cash flow from operations continues to be positive with increased enrolment and an operating excess. The school continues to closely monitor cash flow. Overall, net assets have increased to a total of $38.6 million. Net Assets consist of internally restricted funds, endowments, and an unrestricted net asset/ equity account. We have combined our investment in property, plant and equipment and operations into one unrestricted account in net assets, it has a balance of $33,929,220. Our unrestricted net asset account increases with capital projects we complete and any excess of revenue over expenditure. In addition, we have shown the construction in progress for West Lake House as its own line in net assets.

CONCLUSION

Our focus for the 2022/23 year was to continue to rebuild our boarding program, focus on getting West Lake House built as we continued to enhance our programs with pandemic restrictions lifted, and to re-engage our Pickering College community. Overall, 2023 was successful and financially we exceeded our goals. We spent time planning for new sources of revenue, continued cost control measures, monitored cash flow and long-term investments closely and undertook several much-needed capital improvements.

We are starting the 2024 fiscal year with 510 students (111 boarders, 399 day students), our highest ever enrolment! We also launched the new ESL Boarding Academy with seven students. In the long term we must continue to strive for innovation, new sources of revenue, continued cost control measures and continue to monitor cash flow closely. We must be flexible in our operations. Financial planning and modelling will be core to our business operations over the next few years as we focus on our financial sustainability.

We continue to have a very dedicated team here at Pickering College who face the challenges and seize the opportunities that lay ahead.

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PICKERING COLLEGE 16945 Bayview Ave. Newmarket, ON L3Y 4X2 Canada

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Web: www.pickeringcollege.on.ca Email: info@pickeringcollege.on.ca Voice: 905-895-1700