New 1:many cadences with automated emails, reusable templates, and more in Signal

DonorSearch identifies prospects in your database with the capacity and intent to give.

Missed the live session? Watch our on-demand webinars anytime to get guidance from industry experts.

A Startup In Our Midst – Avenues: The World School

I have a new obsession.

But unlike my other new obsessions – the new fall television lineup and patterned pants – this one is related to my career interests.

I am obsessed with Avenues: The World School, New York City’s latest addition to the urban private school landscape. The school has emerged from its quiet early stages into a very public spotlight, compounded by Suri Cruise’s recent enrollment as a first grader. Avenues combines two career loves: private school education and startups. Avenues, a for-profit independent school, hopes to redefine private school education and disrupt an industry that predates our country.

Starting from a gorgeous, massive building in Chelsea designed by Cass Gilbert, Avenues has rethought every aspect of the classroom education. iPads are issued to every student, mandatory Mandarin and Spanish instruction begins in nursery classrooms, the promise of campuses spanning the world. Avenues is aggressively investing in globalization and technology from the outset.

Its administrative leaders were handpicked from some of the world’s best secondary schools including Hotchkiss, Exeter and Dalton. Avenues is setting a standard for measuring achievement with parallels to leading charter schools.

But despite unmatched facilities, an innovative curriculum, strong leadership and blue-chip investors, the startup school lacks one key component that money can’t buy: a strong alumni network.

Avenues leadership realizes this potential weakness.  At a recent parent reception, New York Magazine quoted the school’s academic dean as saying, “We were very, very selective in admitting ninth-­graders, because we knew that they are going to define how this school is viewed over the next decade.”

From my vantage point at EverTrue, I have to ask, how will a lack of alumni community affect Avenues five, ten, fifty years from now? Will the for-profit model buffer them from fundraising requirements and associated alumni engagement efforts? Will the international focus lead to disconnected alumni? Or will Avenues attempt to redefine the concept of an alumni community without the underlying tension of an impending “ask”?

According to the Avenues website, while there is a robust admissions and leadership team, there is no development staff (and clearly no director of alumni relations). Avenues will graduate its first class from the school and off to college in the Spring of 2016, adding an upper school class over the next three years.

In a 2011 NYT article a prospective parent questions, “Yet in the back of my mind, Avenues has no history, nothing to support itself.” She compared it to a new model car: You might like it enough to buy, she said, “but what if it’s recalled? Then what do I do?””

In a world of headlines dominated by the potential disruption of education, the emergence of the Massively Open Online Course (MOOC) and the development of for-profit education models, the history and traditions of alumni networks may be the key thread that shields legacy institutions from such sudden change.

I applaud the leadership team, students, parents and visionaries at Avenues. They are risk takers with potential for failure, but also potential for excellence. After a year at a startup watching something grow from the ground up, I believe they can be successful.  If Avenues succeeds, is it hard to imagine a group of faculty and investors from Harvard, Yale & Princeton or Williams, Amherst & Bowdoin attempting the same sort of disruption in higher education?

As it says around the gym atop the Avenues Chelsea campus, “You miss 100% of the shots you never take.”

Ever True!
Courtney



Endowment Spending & Growth Calculator

Enter your fund's current value and adjust the return, spending, and inflation sliders to see how its value in today's dollars changes over time.

$
6.0%
0%12%
4.0%
2%7%
3.0%
0%8%
10
5 yrs25 yrs

Value in 10 years

$0

In today's dollars

$0

4. Continue to Steward Donors

Your relationship with the donors who give to your endowment doesn’t end when you secure their gifts. Because your endowment exists to make a difference in the long term, your supporters will want you to keep in touch about its progress. Ongoing stewardship means keeping donors updated about your endowment’s performance and impact. A report that strengthens your relationship with donors should cover:
  • The fund’s balance at the start and end of the year
  • Spending amounts and allocations
  • How the fund’s returns compare to your investment targets
  • A short narrative detailing the specific impacts the endowment achieved
Create a report for each endowment rather than sending an identical document to everyone. A donor who endowed a scholarship wants to hear about the students it supported, while a donor who endowed a building fund wants updates on construction projects.

5. Upgrade Your Endowment Management Tools

Your endowment management tools should make applying your spending policy across every fund easy. Investing in dedicated software is especially useful as your endowment grows. Handling unitization in spreadsheets might work for a few funds, but as you begin to manage dozens or hundreds of gifts, dedicated software can save your team time spent manually calculating gains and losses for each one.

Why Nonprofits Need Dedicated Endowment Management Software

Dedicated endowment software brings accuracy and consistency to every part of the management process, from tracking individual funds to improving security. See how these solutions compare to a spreadsheet-based approach: nfographic table outlining the information below.

How These Methods Compare:

In managing your endowment with traditional spreadsheets, you may see:
  • High administrative burden: Manual entry across disconnected systems
  • Limited security and audit footprints: Reduced version control and audit trail visibility
  • Difficulty with donor transparency: Spreadsheets provide only static data that is difficult to turn into custom results.
By using dedicated software, you are likely to find the following improvements:
  • Lower administrative burden: Automated fund tracking and calculated allocations
  • Enhanced security and audit footprint: Audit-ready reconciliation with clear tracking
  • Greater donor transparency: Connects with reporting platforms
Dedicated endowment management software keeps your organization compliant while freeing up the time your team once spent manually managing spreadsheets.

Secure Your Endowment with Balance by EverTrue

Effective endowment management begins with excellent accounting. Balance by EverTrue handles unitization, applies spending rules, and produces audit-ready reports, so your team can spend more time on the donor relationships that built the fund in the first place.
  • Turn your data into a clear picture of long-term impact. Combine accurate fund accounting with donor reporting that showcases impact.
  • Connect with the tools you already use. Pair Balance with Impact by EverTrue and ODDER by EverTrue to create and deliver compelling digital endowment reports that you can send to donors with ease.
  • Know where every fund stands in real time. Check market values, gift history, and available spending for any fund. Then, share view-only versions with your team, so everyone stays informed.
With Balance, your team can stop spending all your time on manual management and instead add balance to your endowment workflow.

Additional Resources

To learn more about managing your endowment and other ways that technology can help your organization, check out these additional resources: Less stress, higher endowment funds. Discover how Balance provides the organization, security, and accuracy your endowment needs. Request a demo.
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x