The 2023-24 school year was a year of tremendous achievements. Most notably was the leadership of our senior class and the restoration of so many important School traditions that had gone by the wayside during Covid. It only takes a couple of years to start a tradition at Episcopal as well as end one. Thankfully our seniors made sure that they were passed down to the underclassmen.

In addition to this important student life achievement, we also reversed our endowment’s downturn and restored it back to its pre 2022-23 level. Our total endowment is now over $340 million. Progress continued to be made in other areas on campus. We completed the solar installation on the roofs of Flippin Fieldhouse and Hershey Athletics Center. We expect this installation to provide about 10% of the campus’s electricity. The new Class of 1976 Golf Facility, which is adjacent to the Goodman Squash Courts, is well on its way to completion. This facility will provide state-of-the-art technology for our boys’ and girls’ golf teams.

The mundane but important part of balancing our revenues and expenses was executed according to the Board approved annual budget. There were no unpleasant surprises. Our expenses came in either as forecasted or below and our revenues exceeded our forecasts.

Without the generous support of our alumni, parents and friends, we would not have been able to accomplish any of the things I have mentioned above. Nor would we be in the sound financial position we are in only a few short years from Covid and the resulting economic downturn. You are all critical to the continued success of Episcopal, and we are eternally grateful.