July 25, 2011

Dear Members of the Milton Academy Community,

The Class of 2011 has made its mark on Milton. As those graduates now fan out in many directions, excited about the next phase in their lives and in many ways reluctant to leave Milton, I am happy to share with you news about the School.

This year, Todd Bland’s second as our head of school, was an outstanding one. Todd happily points out that he is “no longer the new guy” and his roots in the School are already strong. Watching Todd at graduation, shaking hands with the seniors and handing them their diplomas, I was struck by his personal connection with each of them. Todd often says that his energy comes from immersing himself in the life of the School. Even a short visit on campus demonstrates the power of that campus-wide presence. Students know him and talk easily with him, whether they’re fearless kindergarteners, or shy 14-year-olds in Class IV.

Todd thanked the graduates of 2011 for choosing “unity” as their class theme, and for truly bringing all ages, personalities and styles together to celebrate the Milton they hold in common. The student speakers at graduation epitomized the qualities Todd appreciated in the class. Yoshi Makishima, for instance, told her classmates and the audience how important and enriching it is to express gratitude. Sam Shleifer made the argument that commitment, to yourself and to others, is a critical component of progress. 

Speaking to the multi-generational graduation audience, Todd acknowledged everyone’s role in the success of 2011: administration, faculty and staff, students, alumni, trustees, parents and friends. In the same way, I would like to thank you all for a year of achievement and great forward momentum.

This letter intends to thank you, and also to update you with information about the status of the School in important areas. From the point of view of the board, Milton is prospering. 

The Board of Trustees

Milton’s trustees are energetic, committed to the School, and eager to support Todd’s leadership. We are inspired by the idea of maximizing Milton’s ability to provide, in today’s and tomorrow’s world, the education that has made such an impact on graduates for generations. 

This year the board completed its self-study and enacted a number of changes. Several of these changes will help us stay effective, open, and in regular communication with all the constituencies who value Milton. For instance, we’ve agreed to consistent, periodic evaluations that include your feedback. We have also formally institutionalized the communication between the board, the faculty and the administration, that has been established through the Trustee Liaison Committee with the Faculty Council. The board by-laws now ensure that, over time, faculty have input into Milton’s strategic direction and that the board stays in touch with faculty concerns. We’ve also instituted term limits for board officers and reorganized a number of standing committees. Our goal is to engage board members’ time and skills well, applying the correct focus, research and deliberation about Milton’s strength and direction.

Two trustees joined the board this year, and both are Milton parents:

Chris McKown co-founded Health Dialog, a leading provider of care management, healthcare analytics, and decision support. Earlier in his career, Chris was a principal in Booz, Allen & Hamilton's New York City-based financial services practice. Chris and his wife, Abigail Johnson, live in Milton. Their daughter Julia is a member of the Class of 2013. Chris earned his undergraduate degree from Penn State and his M.B.A. from Harvard University. Chris chairs a new ad hoc committee to frame Milton’s upcoming strategic planning.

Steve Lebovitz is president and secretary of CBL & Associates Properties, Inc., the fourth largest mall REIT in the U.S., which owns, holds interests in or manages over 130 properties. Before joining CBL, Steve was affiliated with Goldman, Sachs & Co. An active Parents' Fund volunteer for Milton, he and his wife, Lisa, live in Weston, Massachusetts. Their son Andrew ’10 is a student at Middlebury College; their children Matthew and Abby are members of the classes of 2012 and 2014 respectively. Steve attended Stanford University, and earned his M.B.A. from Harvard University.  

This past spring we also recognized Karan Sheldon ’73, as she completed two terms on the board. Karan has experienced Milton as a boarding student, an alumna, and both a boarding parent and a day parent. Karan’s commitment to the lively, eclectic Milton she knows so well was unfailing. She focused on the living environment, as chair of the Student Life Committee, and she was an early advocate for excellence in science at Milton. We are grateful for Karan’s loyalty and valuable service.

Financial status

Prudent management and careful planning has once again resulted in a balanced budget. This budget continues our effort to address two crucial areas: Milton’s competitiveness with regard to faculty salaries; and our capacity to enroll students who would enrich the School and who need financial aid in order to attend. The coming year’s budget increases faculty salaries by three percent, and it sustains a commitment to financial aid at 20.5 percent of gross tuition revenues, or approximately $7.9 million. Tuitions increased this year by 3.9 percent. The administration, with support from the Budget Committee of the board, scrutinizes both planning and spending for operations at Milton; we are continually upgrading our effectiveness, preserving our physical assets, and increasing our sustainable practices.

The Investment Committee continues to manage Milton’s investment portfolio to achieve performance within the top quartile of endowments for similarly sized schools. In a decision aimed at protecting and building the endowment, the board has decided to reduce the draw from the endowment, moving this year from five percent to 4.8 percent. Milton’s relatively small endowment, relative to peer schools, is an abiding issue, especially because Milton relies on the proceeds to fund approximately 17 percent of our annual operating costs. The value of Milton’s endowment, which was $166 million last June, is approximately $195 million as of June 30, 2011; the total return for 2011 was 19.8 percent.

Buildings and Grounds

We are pleased to report that just one year after the opening of the Pritzker Science Center, we will open, this fall, a new location for visual arts faculty and their students. Milton has retrofitted the cast-in-place, concrete building, opened in 1970 for Milton’s science program. The building that had been known as “Old Science” is now the Art and Media Center. Thanks to skillful modifications, especially in lighting and color, the building will be alive with the energy of artwork. Forming one side of the quad flanked by Cox Library and Ware Hall, this large building, with what architects call “good bones,” had represented an underutilized and desirable asset, particularly for arts programming. In addition, the reconditioning of this forty-year old building is consistent with Milton’s environmental policies and desire to be fiscally prudent. This repurposing locates visual arts classes in a functional and attractive space—and for the first time in ten years, the Milton Academy campus will be without some familiar sights: trailers with “interim” classrooms.

Alumni Relations and Development

One of this year’s highlights was the giving record achieved by our newest alumni. The Class of 2011 set a new record with 100 percent of the class making gifts to the Annual Fund. They have set the bar high for the rest of us.

Milton dedicated the Pritzker Science Center in May, with students, faculty, staff and leading donors in attendance, including J.B. Pritzker and his family. Having “lived” in Pritzker since the opening of School, students and Science Department Chair Michael Edgar were able to share real time stories about Pritzker’s powerful impact on science at Milton. Later that day, at a memorable dinner celebration, we thanked those alumni, parents and friends whose leadership support over the last eight years totals over $100 million for Milton. These donors enabled Milton to reach crucial goals, among them meeting facilities’ needs essential to the quality of faculty and student experience. 

Milton alumni connected with one another, not only virtually, but also in reality, at more than 48 events across the country as well as in Hong Kong and Korea. While we look forward to seeing you in person, don’t miss the life of the School, live and up-to-date in events, photos, videos and comments on our Facebook page, linked from the Milton homepage.

Milton alumni, parents and friends achieved a record Annual Fund level of $3.7 million. This represents a five percent increase over last year’s total. Parent participation increased by 14 percent to an impressive 71 percent. We are always working to enhance everyone’s understanding about how important those gifts to the Annual Fund are. They directly, immediately and powerfully support every aspect of Milton life—especially what is near and dear to us all: devoted faculty; motivated and talented students; the many opportunities for growth and fulfillment at Milton; and excellence in every aspect of learning. My heartfelt thanks to all of you who participated in this very successful year.
   
Enrollment

Enrollment represented another area of progress this past year. Applications to Milton’s Upper School reached an all time high, at 1,032. Yield also reached an historic level. Milton exceeded the five-year average yield in every category (for example, at various entry points, boys and girls, boarding and day). Not only has the admission office finely-tuned the outreach to prospective families each year, but also, interest in Milton continues to grow. Milton is at full capacity with 980 students from Kindergarten through Class I.

College Matriculations

While each year has been predicted as the peak of national application statistics, nearly all of the most selective universities and colleges in the country decidedly continued the trend toward application increases in 2011. The environment in the college admission and financial aid world continues to shift as institutions develop policies and practices to cope with the numbers of applicants. Milton students today apply to a diverse group of top-notch schools; they will attend 84 different colleges and universities in the fall. The Class of 2011 experienced excellent results. Harvard was the lead school for this class and other top choices for matriculation included Amherst, Boston College, Columbia, Cornell, George Washington University, Georgetown, Tufts, Washington University and Wesleyan.

On the Horizon

Strong, confident institutions preparing to make great strides undertake extensive self-evaluation. Milton has been immersed in self-study this year. Everyone has been involved: trustees, faculty and staff, students, parents, alumni.

One study was required as part of the 10-year re-accreditation by the New England Association of Schools and Colleges (NEASC). The other work was initiated internally.

NEASC accreditation involves all of our constituencies in reviewing the issues integral to school life. Two faculty members chaired the full, extensive effort guided by a steering committee of administration and faculty. Teams of volunteers then gathered to research, review and discuss Milton’s status relative to numerous standards. The chairs will submit the faculty report this summer, and in October a NEASC team of educators visits Milton for four days.

Head of School Todd Bland invited everyone in the broad Milton family to participate in another evaluation. This one, a comprehensive survey of perception and experience, was developed over a number of months by the Milton Academy Institutional Brand Council (launched in spring 2010). The Council is charged with strengthening and building awareness of Milton’s character, quality and reputation.

A great number of alumni, parents, faculty and students accepted Todd’s invitation to give direct feedback in this first baseline assessment. The Administrative Council is working now on analyzing the rich data about individuals’ experience and impressions of academics, student life, School environment, leadership and many other aspects of the School. We will share information about the findings once the administration and the board have had an opportunity to delve into the responses.

Both these efforts are perfect staging activities for the beginning of the board’s strategic planning. We have recently been interviewing external resources to facilitate and optimize this effort, and expect to report later this year on process, timing, and participation by all of Milton’s constituencies.

The board and the leadership at Milton are enthusiastic, and well positioned to build on this year’s assessment initiatives. We appreciate what you have told us over the course of the past year and will incorporate your input into the plan that will shape the next chapter in Milton’s history. Once again, we thank you for your personal investment in Milton’s future: your attention, care and support. We are grateful for your loyalty to the educational values that Milton represents, year after year.

Sincerely,

Bradley M. Bloom
President, Milton Academy Board of Trustees

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