Renovations, Tuition Top Trustees’ Agenda
The Academy’s Trustees kicked off the new year with their official winter term meetings from Wednesday, Jan. 20, through Friday, Jan. 22. During the three-day visit, the Trustees discussed an array of important matters for the Academy, including the yearly determination of student tuition and employee salaries, the exciting progress of Exeter’s Performing Arts Initiative and the approval and announcement of the winners of the John Phillips Award and the Founder’s Day Award. During their stay at the Academy, the Trustees also had the opportunity to experience the heart of Exeter by chatting with faculty and students through dinners and dorm duty.
As is usual for their winter term meeting, the Trustees set the tuition for the upcoming Academy school year, which will be released mid-February. Tom Hutton ‘73, the President of the Trustees, said that although it isn’t an explicit goal and isn’t always true, Exeter’s tuition is usually at or near the bottom of comparable New England Boarding schools, as a result of the Academy’s generally larger Endowment. Faculty and staff salary increases were also discussed during the Trustees meeting. The final decision on salary increases will be made in the coming months as the Trustees refine the 2015-16 budget; the decision will be shared in employees’ March salary letters. Utilizing the opposite rationale for tuition, the Trustees tried to maximize salaries, taking into account the increases in living costs and the hope of paying Exeter faculty the same as or more than comparable New England boarding schools do.
Since it is the top funding priority for the school year, Trustees were pleased to discuss the promising progress of Exeter’s Performing Arts Initiative.
At this time, the Academy has successfully raised sufficient funds to begin the addition to the current music building, the Forrestal-Bowld Music Center, which will include a recital and rehearsal hall, as well as teaching spaces. The Academy anticipates construction on the center to begin this spring, which is on schedule for the planned September 2016 opening.
The funding for the music-oriented portion of the Performing Arts Initiative has been completed, and the theatre/arts portion is not far behind. According to Principal Tom Hassan, the Academy has secured 82 percent of the funds needed to build a new performance center for theater and dance, which will be located on Court Street, where the tennis courts are now situated. The successful fundraising is due to the persistence of fundraisers and the collective generosity of the Trustees and many other donors, both alumni and parents.
Hutton is confident the Academy will be able to collect the remaining 18 percent of the necessary funds. “The Institutional Advancement Department, Mr. Hassan, volunteers and trustees have been working hard to raise funds for the PARC. We are encouraged by the support of Alumni and other fans and supporters of Exeter,” Hutton said on behalf the Trustees. “We are confident that we will raise the remaining amount.”
The architects for the new performing arts center, Tod Williams and Billie Tsien, were also on campus last week to continue their initial work on the design process and participate in discussions with faculty to further immerse themselves in the Exeter culture. In hopes of creating a performing arts center fit to Exeter’s unique environment, Hassan said, “The design process is still in its very early stages, and we plan on having Tod and Billie back on campus for sessions that will engage the Academy community in the creative planning for this very exciting new project.”
In the formal meetings, Trustees also approved the recipients for the Founder’s Day and the John Phillips Awards, given yearly by the Academy. In May, Hassan will present alumnus Steve Mandel ’74 with the Founder’s Day Award for his substantial devotion to Exeter.
Hutton commented on Mandel, praising him for his tremendous work for the Exeter community and endowment. “Mr. Mandel has been an extraordinary Exonian, with contributions of his time and expertise that have had a major impact on the Academy. Mr. Mandel served on the investment committee that managed the Endowment for nearly 20 years,” Hutton said. “During his tenure and under his leadership, our Endowment has grown substantially, both on an absolute basis and compared to other Endowments. Exeter admires Mr. Mandel enormously.”
In October, Eric Rosenthal ’81 will receive the John Phillips Award, which honors an Exeter graduate for contributions to the welfare of community, country and humanity. According to Hassan, he will be recognized for his efforts in promoting disability rights as a human right.
The Trustees also greatly enjoyed the chance to meet and spend time with members of the Exeter community; for some trustees, it was the most gratifying experience during their short stay. On Thursday night, the Trustees dined with the adult and student members of the Martin Luther King Day Committee before heading off for a night of dorm duty and informal discussions with students. On Friday, Trustees carved out time from their busy schedules to meet with students on Friday morning and participate with faculty in the post-assembly discussions. “Opportunities like these to connect with both adults and students are especially meaningful and informative to the Trustees,” Hassan said.
Nicie Johnson Panetta ‘84, Vice President of Trustees, agreed with Hassan and was delighted to learn about the ongoing Academy activities. At the MLK dinner, she was thrilled to see how students, faculty and staff had worked together to gain a greater collective understanding of Dr. Martin Luther King, Jr.’s legacy in today’s world. Panetta continued to acknowledge her time in the dorm as not only an opportunity to learn but also a simply fun night.
“Spending time with students is one of the most enjoyable parts of our jobs as Trustees, and we always look forward to it. We got to experience the close-knit bonds the students share in the dorm and get a sense of current issues on campus, such as dress code reform,” Panetta said. “We are always impressed by the thoughtfulness of Exonians and their shared desire to be both smart and kind. Finally, we are always glad to see that today’s Exeter students don’t just work hard, but they also have a lot of fun and appreciate baked goods as much as we do.”
During the visit, the Trustees accomplished most of their agenda. Leaving the winter term meetings successful and satisfied, they are looking forward to their return this spring. “The Trustees were grateful for the warm welcome extended to them during their visit, and they look forward to their next campus meeting in May,” Hassan said.