NBOA President and CEO
The independent school world has changed irreversibly since the economic downturn of 2008. Students’ needs have evolved in ways affecting where, what, when and how they learn, as have expectations of world-class learning. Bewildering growth in alternatives to public and independent preK–12 education demands that we invest in our value proposition and deliver on our mission.
During this same time, another evolution has taken place that is even more valuable, in my opinion. Independent school leadership has changed for the better. I’ve written at length about how the business officer’s role (sometimes out of necessity) has developed into a strategic partnership with the head of school and board of trustees in advancing the school’s mission. I’ve also observed how another leadership role has changed dramatically in ways that are just beginning to have a material impact on schools. Increasingly, the most dynamic independent schools have a business-savvy head of school.
How does the business-savvy head of school lead differently? She or he assesses the school’s financial strengths, supported by the business officer, and pulls the right financial levers to ensure that the school thrives. Any business officer worth his salt would like to work with such a leader. This issue of Net Assets showcases two of them (“The Reawakenings").
A key strength of a business-savvy head of school is the ability to identify resources that can bolster a program in demonstrable ways.
You might assume that Mike Saxenian, the head of school at the McLean School in Potomac, Maryland, would naturally be more business-savvy than most, given his successful tenure as the chief financial officer at Sidwell Friends. When Mike came to McLean, he quickly identified an enviable financial position whereby the net tuition per student was significantly higher than at most schools. He then strategically pulled those financial levers to reinvest in the school’s program in high-impact ways. In fact, a key strength of a business-savvy head of school is the ability to identify resources that can bolster a program in demonstrable ways.
Another business-savvy head of school resides at the Summit School in Winston-Salem, North Carolina. Michael Ebeling made significant financial cuts to “stop the bleeding” following the 2008 recession, but he instinctively knew that expense cuts were not the path to financial sustainability. He crystallized the school’s value proposition as it relates to the student experience, and then invested in faculty professional development to support that experience.
In full disclosure, I have had the pleasure to work with both Mike Saxenian and Michael Ebeling during my tenure at NBOA, and I know that both men are too humble to seek the type of attention this issue of Net Assets gives them. But they both represent leadership that all of us can learn from as we grapple with unique financial challenges at our own independent schools.
Follow NBOA President and CEO Jeff Shields @shieldsNBOA.
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