Being Proactive About the Economy
Conference Call Series
In early December, PEJE convened a conference
call with leaders of the denominational networks and major Jewish
organizations to serve as a think tank on the economic realities
schools are facing. Out of this call grew the initiative for a series
of field-wide conference calls to address crucial topics that schools
are facing. The first two webinars have been scheduled:
Leadership in Tough Economic Times
January 13, 2009, 1:00-2:00 pm Eastern
Featuring: Leonard A. Schlesinger, President of Babson College.
Projecting Enrollment Numbers, Including Financial Aid, in Tough Economic Times
January 28, 2009, 1:00-2:15 pm Eastern
Featuring: Rheua Stakely, PEJE Coach, Organizational Development Consultant, and Trainer
The two webinars will take place as both a conference call and an internet-based presentation.
For both calls, please RSVP to Kirk Tallman
New PEJE Podcast
In the latest installment of the PEJE Podcast, we talk to four school leaders about how their schools are managing the economic downturn. Go to the Podcast Archive to listen to the podcast directly from your computer or to download the audio file.
Visit our new web page, The Changing Economy, on our website which contains various resources for dealing with the economy.
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Get the Right People On Your Board
 "Excellent, interactive, well-prepared, well-organized, practical, helpful, concrete, and do-able" was how one school leader described the November Getting the Right People on Your Board conference. This one-day conference is designed to help school teams find the hard-working, enthusiastic, and capable trustees needed to get your Board where you want it to go. Board leaders responsible for new member recruitment should attend with a Board or professional partner. As another participant said, "it gave us the tools to move forward."
The cost is $450 for a team of two; additional team members are welcome at $200 per person.
Los Angeles, CA
Sunday, Jan. 11 Register by Dec. 31
Thank you to PARDeS, RAVSAK, SSDSA,
and the Yeshiva University Institute for University-School Partnership
for cosponsoring the conference. |
2009 Benchmark Report Revision
 PEJE and Measuring Success are revising the Benchmark Report, from the Day School Peer Yardstick® Suite of Tools. The Benchmark Report measures school performance and helps school leaders track progress toward enrollment growth and financial sustainability. After five successful years of data collection and benchmark generation, we are updating the Data Collection Form and associated Benchmark Report using past evaluation results and input from selected heads of school attending this winter's denominational regional conferences.
From the Solomon Schechter Day School Association, we value the contributions of:
Avi Baran Munro, Community Day School
Dina Shtull Leber, Hebrew
Day School of Ann Arbor
Richard Cuenca, Hochberg
Preparatory
Joyce Raynor, SSDS of Essex and Union
Dr. Steven C. Lorch, Solomon Schechter School of Manhattan
Jane Taubenfeld Cohen, South Area SSDS
Additional informants will be confirmed from RAVSAK, the Yeshiva University Institute for University-School Partnership, and PARDeS.
The goal of the revision is to increase ease of use in populating the Data Collection Form and in interpreting and applying the learning and recommendations generated in the associated Benchmark Report.
The revised Benchmark Report will be released and ready for data collection in late Spring 2009. Please contact benchmark@yardsticksuite.org with any questions.
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Use the SFMT for Even More Benefit
The Strategic Financial Modeling Tool, developed in partnership by PEJE and Measuring Success, helps your
school achieve its goal of financial sustainability. The SFMT provides stability in a changing economic climate, automatic feedback
based on benchmark data, and much more. With the purchase of the SFMT,
your school will receive the software, an extensive user guide, and an
online Tool Library.
Purchase the SFMT by contacting Devorah at (617)367-0001 x 162.
Schools that have already purchased the Strategic Financial Modeling Tool and completed one of the 2008 trainings are invited to purchase one of three Post-SFMT Coaching Packages.
Package 1: Polishing Your Scenarios
Continue to use your SFMT to refine your scenario planning with PEJE Coach or Measuring Success consultation (one-day consultation including site visit).
Package 2: Preparation of Strategic
Financial Plan
Use your SFMT to prepare a Strategic Financial Plan with three days PEJE Coach or Measuring Success consultation including participation at a board retreat (two-days onsite and one-day preparation time).
Package 3: Long Term Financial Planning
Full support to integrate SFMT into your daily work, including the preparation of a strategic plan, presentations to board and donors, and training additional staff on SFMT use (eight days PEJE Coach or Measuring Success consultation over a 12-month period).
Contact Devorah at (617) 367-0001 x 162 to learn more. |
Network Events
PEJE Executive Director Rabbi Josh Elkin will be one of the workshop leaders at the RAVSAK Annual Leadership Conference, being held in San Francisco from Jan. 18-20, 2009. The deadline for registration is Jan. 2.
We hope those at the Solomon Schechter Day School Biennial Conference in Boca Raton, FL (Dec. 14-16) enjoyed a meaningful and valuable conference.
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You're Invited:
December - January CoP Calls
 During challenging economic times, connecting with colleagues can be a great way to find support and share knowledge.
The PEJE Communities of Practice (CoPs)
invite
you to join the following conference calls.
CoP membership is not required, and you'll get a chance to sample the
learning, networking, and support that come with CoP membership.
Dec 17 - Leadership CoP
The Interview: Creating Questions that Open the Door for A Successful Match
Dec 17 - Financial Management CoP
Adapting a Financial Strategy for Today's Economy
Jan 12 - Diverse Learners CoP
Positive Behavioral Supports-Continuing the Conversation
Jan 14 - Joint Israel Engagement and Financial Management CoP
Exploring Financial Resources to Fund Israel Trips and Exchange Programs
Jan 22 - Leadership CoP
The Meltdown and Jewish Education
Jan 29 - Professional Development CoP
Leadership Styles that Support PLC's
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Financial Management CoP Members Meeting at NBOA Symposium
Members of the Financial Management CoP attending the National Business Officers Association Symposium in Chicago on Feb. 23-25, 2009 are invited to attend a special face-to-face meeting facilitated by PEJE. The NBOA symposium offers sessions on topics such as business manager leadership, capital campaigns, investing, financial planning, and much more. PEJE Coach and Financial Management CoP member Howard Richmond will even be leading a workshop on financial aid. Register for the symposium (kosher catering is available), and contact Stephane Acel to learn more about the CoP meeting.
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MyJewishLearning.com
 It has become almost as much a tradition as cooking latkes: criticizing the commercialization of Hanukkah. Yet, there are ways to make this a teachable moment. Indeed, the irony of the Christmas-ization of Hanukkah is that the original central message of the holiday is the struggle over assimilation versus acculturation. The story of the oil, in fact, was not mentioned until centuries later, in the Talmud. Interestingly enough, the dreidel is itself a product of assimilation: It is borrowed from a Renaissance British and Germanic game. |
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| December 2008 · Kislev 5769
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Day School Growth and Excellence: Steering Your Jewish Day School Toward Financial Sustainability in an Unstable Economy
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By Sacha Litman, Founder and Principal Consultant, Measuring Success
Jewish day schools today are worried about the impact of the ongoing economic instability on school enrollment and financial sustainability for next year. Measuring Success, through our partnership with PEJE, has developed data-driven insights from the Day School Peer Yardstick Suite of Tools® for helping schools deal with the situation. Many of these insights come from our work with over 100 schools using the Yardstick Strategic Financial Modeling Tool at six financial modeling conferences, as well as our analysis of the "Vicious and Virtuous" financial cycles drawn from the Yardstick Benchmark Report data from over 175 schools.
A useful approach in these stressful financial times is to recall the Chinese symbol for the word "crisis," which consists of two characters: danger and opportunity. Though it is important to emphasize that nobody has the answers about how to deal with current financial uncertainties, and nobody can accurately predict what the enrollment effects will be, here are some dangerous pitfalls to avoid and some concomitant unique opportunities to act upon.
1. Do not let tuition slip much below cost per student.
The best way to maintain financial sustainability is to set tuition as close as possible to cost per student. You can achieve this by either scaling back costs per student or raising tuition. Scaling back costs can be dangerous (see below), but showing parents how tuition compares to your school's cost per student can justify your tuition (or potential tuition increase). The larger the gap between tuition and actual cost per student, the larger the burden on your development department to raise funds for operational expenses (instead of financial aid).
2. Do not keep tuition flat.
As tempting as it may be for your board to keep tuition flat, remember that there are inflationary pressures on the entire economy and on your school. Teachers, whose salaries constitute on average 63% of your costs, need raises, at least at the cost of living--which has been on average 3.3% over the past five years. The cost of staff benefits also continues to grow sharply at 10-20% a year. Parents expect costs of services to increase, though they certainly are not happy about it. Unless the entire economy enters a period of deflation (in which prices get cheaper or stop growing), Jewish day schools should not overreact. Measuring Success has studied day school data for the past eight years, including the recession from 2000-2002, and our analyses have repeatedly indicated that there appears to be no association between the level of tuition increases and enrollment changes. Instead, we believe tuition and enrollment are both driven by another factor: your school's perceived value. Your tuition should be set to reflect the perceived value of your school, and your school's perceived value will drive enrollment. Certainly this is not the year to propose excessive tuition increases, but modest increases will be necessary for your school's financial sustainability. Test the effects of various tuition increases against growing costs by deploying the Yardstick Strategic Financial Modeling Tool in your school.
3. Have a clear understanding about how your school's value is perceived by current and prospective parents.
Many schools want to know how to measure their perceived value across the school. The Day School Peer Yardstick® Parent Survey, already in use by 40 Jewish day schools, is a great tool for doing so. The Yardstick Parent Survey enables your school to understand how different parent segments--e.g. wealthy families, less observant families, or families who left the school--perceive your school, and how they will be affected by the economy and by tuition changes. Schools get a comprehensive report showing how they compare on perceived value to peer Jewish day schools, local competition (public, private, charter, and other local Jewish day schools), longitudinally over time, and among parent segments.
4. Do not increase the burden on your development department.
A crucial financial calculation to watch is a school's coverage ratio. Coverage ratio is net tuition (charged minus financial aid) divided by total...
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Related Resources
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Areyvut's "A Kindness a Day" Calendar
Areyvut is pleased to announce the arrival of its 2009 "A Kindness a Day" calendar, which provides 365 suggested kindnesses, each one linked to a traditional Jewish text. The calendar serves as a constant reminder to reach out to others. It serves as a wonderful educational resource for those looking to infuse the importance of chesed, tzedakah and tikkun olam in their classrooms. Until January 15, Areyvut will be offering PEJE eNewsletter subscribers a 10% discount on all orders. When purchasing your order, simply enter promotional code: peje. Visit the website or contact Areyvut at (201) 244-6702 for more information.
Chalav u'Dvash Training Seminar
A training seminar for Chalav u'Dvash, a Hebrew language instruction program for three- to six-year olds, will take place in New York on February 16-18. The program teaches Ivrit b'Ivrit and focuses on oral language. The training seminar provides both a theoretical overview of the program and practical training in how to implement the program.
Sheila Schwartz Family International Leading Science Teacher Seminar
The application period for the 2009 Sheila Schwartz Family International Leading Science Teacher Seminar is now officially open. The seminar will be at the Weizmann Institute of Science in Rehovot, Israel, from July 6-13. Visit the website for more information.
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Partnership for Excellence
in Jewish Education
88 Broad Street, 6th Floor
Boston, Massachusetts 02110
617.367.0001 tel · 617.367.0029 fax
email PEJE · http://www.peje.org
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