INDEX School Heads Serve for 8 Years
The average tenure of an INDEX Head of School is 8 years. The average total years Headship experience (includes Headships at all schools) is 13 years. These averages have remained fairly constant over the last 10 years. However, these stable averages mask a shift in the underlying data. 5 years ago, half of all Heads were 6-15 years on the job, and only 11% were 16+ years in the position. Today, a third of all Heads have been on the job 6-15 years, and a whopping 26% have been in the position 16+ years.
63% To Eliminate All Hybrid Classes Next Year
An INDEX poll last month reported that 63% of the 62 responding schools plan to eliminate all hybrid offerings in 2022-23, and 35% plan to reduce their hybrid offerings. Only 1 school reported that it will expand hybrid classes next year.
Auxiliary Service Revenue Down 50%
Since the start of the pandemic, the median change in Auxiliary Service Revenue is -50%. In the first year of the pandemic, the median drop in Auxiliary Service Revenue was 18%, and last year it dropped 42%. (Note these changes are not additive.) The good news is that Auxiliary Revenues will inevitably climb, as we head out of the pandemic.
26% Endowment Rate of Return
Last fiscal year, INDEX schools averaged a 26% rate of return (net of fees) on their endowments. The 10-year return averaged 8%, and the Spending Rate Policy average was 4.2%. These figures are prior to the recent downturns in the market.
76% of Schools Report YOY Increase in Annual Giving
In a recent INDEX Development Flash Survey, 76% of the responding 93 schools report higher year-over-year Annual Giving Revenues. 44% of schools are 10%+ ahead of last year, and 17% are 5-10% ahead of last year.