1. NAIS 10-Year “DASL Benchmarks” Markers of Success Patrick F. Bassett Bassett@HeadsUpEd.com

2. Markers of Success #1: Robust Income Streams = Data Proxy for Sustainability Income : Day Net Tuition 76.1% 78.6% 78.0%xx.x% Income : Day School Other Programs 3.7% 4.2% x.x% Income : Day School Investments 5.1%3.8%4.1%x.x% Income : Day School Giving 7.8%6.7%8.2%x.x% Expenses: Day Salaries & Benefits (#901 ) 69.5%65.1%69.1%xx.x% Expenses: Day Technology* 1.2% 1.4%x.x% Expenses: Prof Development 0.8%x.x% NAIS 10-Year Comparisons (See Boarding) Our School:Boarding Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School: Expenses: Day All Other 30.3%34.9%29.5%xx.x%

3. Markers of Success #2: Diversity = Proxy for Inclusivity: Race + Ethnicity NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School Students of Color (#400) 19.6%22.3%28.1% xx.x% Boarding Students of Color (#400) 16.2%16.9%22.2%xx.x% Day School International (#201) 3.1%3.2%3.0% xx.x% Boarding International Enrollment (#201) 11.9%17.3%21.7%xx.x%

4. Markers of Success #3: Financial Aid = Data Proxy for Socio-Economic Inclusivity DAY: NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School Students Need-Based Aid (#700) 15.1%17.1%21.6%xx.x% Day School Student Tuition Remission (#701) 4.4%4.6%5.0%xx.x% Day School Students on Merit Aid (#702) 4.7% 5.5%xx.x% Day School Student on Full Need (#703) 7.5%6.4%4.9%xx.x% Day School Students Total on Aid 25.2%26.4%32.6%xx.x% (See BOARDING)BOARDING

5. Markers of Success #4: Tuition = Data Proxy for Pricing Strategy NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School Median Tuition Grade 9 (#500) $15,988$19,925$24,450 $xx,xxx Boarding Median Tuition Grade 9 (#500) $30, 000$39,000$48,600$xx,xxx Income : Day School Net Tuition (#900 ) 76.1%78.6%78.0%xx.x% Income : Boarding Net Tuition (#900 55.6%56.8%66.5%xx.x%

6. Markers of Success #5: Endowment Indicators = Data Proxy for Financial Security NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Endowment per student Day Schools $11,411$xx,xxx Endowment per student Boarding Schools $56,092$xx,xxx Endowment: Debt Day Schools 0.96x.xx Endowment: Debt Day Schools 2.63x.xx

7. Markers of Success #6: Annual Giving & % of Participation = Data Proxy for Constituent Loyalty Woodberry Forest School Alumni % Giving: 64% NAIS 10-Year Comparisons Our School: Years: Annual Giving per Student & % Participation 2003 – 2004 2013–14 Day 2013–14 Boardin g 2014- 2015 Median Gift by Alumni/ae & % of participation $272 8.0% $565 17% $xxx.x xx.x% Median Gift by Parents & % of participation $890 69.5% $1404 48% $xxx.x xx.x% Median Gift by Faculty & % of participation $134 95.5% $173 69.2% $xxx.x xx.x% Median Gift by Trustees & % of participation (Table $4030 100% $8402 100% $xxx.x x.x% Giving per Student: Day $1,232 $x,xxx Giving per Student: Boarding $3,302$x,xxx Table 1102

8. Markers of Success #7: Funnel Shape = Proxy for Brand Strength & Selectivity NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Boarding Applications per Enrollee (#601) 3.64.2 4.0x.x Boarding Accepts per Enrollees (#601) 1.81.91.7x.x Day School Apps per Enrollees (#601) 2.82.7 x.x Day School Accepts per Enrollee (#601) 1.5 x.x

9. Markers of Success #8: Low Attrition = Data Proxy for Customer Satisfaction Re-marketing to Current Families? NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School Average Attrition (#602) 9.4% %10.6%9.4%xx.x% Boarding Average Attrition (#602) 11.6%10.2%9.7%xx.x%

10. Markers of Success #9: Student:Staff Ratios = Data Proxy for “Productivity” NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Day School Student : Teacher Ratio (#813) 9.19.09.1x.x Day School: Students : All FTE Staff Ratio 5.1x.x Boarding Student : Teacher Ratio (#813) 7.06.97.9x.x Boarding: All Student : All FTE Staff Ratio 3.1x.x

11. Markers of Success #10: Salaries = Data Proxy for the 3 Rs for Talent With whom do you compete on salaries? Does money motivate and drive teachers – or anyone else for that matter? How might a school re-shape its compensation model? Bands, Tiers, & Pay for Performance. NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2013–14 Day 2013–14 Boardin g 2014- 2015 Faculty Salary: Low $38,231$32,000$xx,xxx Faculty Salary: Median $54,230$49,o88$xx,xxx Faculty Salary: High $ 79,905$76,000$xx,xxx

12. Markers of Success #3: Data Proxy for Inclusivity – Socio-Economic Real-world test: distribution of families across all five socio-economic quintiles (national or local). What happens when the economy and market take a dive? Price becomes “elastic” BOARDING: NAIS 10-Year Comparisons Our School: Years 2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Boarding Students Need- Based Aid (#700) 31.8%33.2%37.5%xx.x% Boarding Students Tuition Remission (#701) 3.6%3.7%4.2% x.x% Boarding Students on Merit Aid (#702) 6.3%8.4%11.1%xx.x% Boarding Students on Full Need (#703) 17.9%18%17.0%xx.x% Boarding Students Total on Aid 41.7%45.3%52.8%xx.x% (Return to Day)Return

13. Markers of Success #1: Robust Income Streams = Data Proxy for Sustainability Income Net Tuition (#900 ) 55.6%56.8% 66.5% (China Effect) xx.x% Income : Other Programs5.9%4.8% xx.x% Income Investments18.3%20.7%11.6%xx.x% Income : Giving10.2%11.6%10.3%xx.x% Expenses: Boarding Salaries & Benefits(#901 ) 54.7%53.3%57.9%xx.x% Expenses: Technology1.3%1.4%1.3%x.x% BOARDING: NAIS 10-Year Comparisons (Return to Day) Our School:Return Years2003 – 2004 2007 - 2008 2013 – 2014 2014- 2015 Expenses: Prof Development 0.5%x.x% Expenses: All Other44.0%46.7%41.7%xx.x%