annual report august 2008

The Annual ReportThe Annual Report

Celebrating 30 Years of God’s Blessings1978-2008

Our ThemeOur Theme….

“Give thanks to the Lord, for He is good. His love endures forever.

– Psalm 107:1Psalm 107:1

God Has Made Us Mighty in g yNumber…

The school has seen a decade of enrollment growth.

Enrollment 1997-2008

enrollment growth.Faith is the 6th

largest Lutheran HS in the world 1000

1200

1400

HS in the world and among the world’s largest Lutheran schools400

600

800Enrollment

Lutheran schools.Faith is the largest non-public school i N d

0

200

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008 in Nevada.1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

And We’re Becoming More LutheranAnd We re Becoming More Lutheran

40

Religious Affiliation of FLHS Students

20

25

30

35

ProtestantUnchurched

0

5

10

15 CatholicLutheranUnchurched

0

2002-2003 2003-2004 2004-20052005-2006

2006-20072007-2008

Our Association Has GrownOur Association Has Grown

Since 1998 Faith Community Lutheran, St. Andrew’s Lutheran and Grace Lutheran have joined the Association. New elementary schools have opened at New elementary schools have opened at Mountain View , Lamb of God and Faith CommunityCommunity.

More Students Means More FacilitiesMore Students Means More Facilities

1998: New Summerlin Campus1999: Koerwitz Baseball Field 1999: Koerwitz Baseball Field 2000: Gymnasium and nine classroom addition2004 K lb St d t C t2004: Kalb Student Center2006: Boyd Softball Field2007: Turf replaced in Heitkotter Stadium2008: Chapel/Performing Arts Building2008: Chapel/Performing Arts Building

And Those Facilities Are Expensive!And Those Facilities Are Expensive!

Since moving to the Summerlin Campus the Association has spent about $2 million per year p $ p yin capital improvements.A March 2007 appraisal placed a $65 million A March 2007 appraisal placed a $65 million value on our campus.Our estimated indebtedness after construction of Our estimated indebtedness after construction of the CPAC is completed will be $17.5 million.

Revenue Has Had To Keep PaceRevenue Has Had To Keep Pace….

$14 000 000

School Income and Expense

$8 000 000

$10,000,000

$12,000,000

$14,000,000

I

$

$4,000,000

$6,000,000

$8,000,000 Income

Expense

$0

$2,000,000

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

And Tuition Is Our Primary Revenue ySource….

9000

Tuition

5000

6000

7000

8000

2000

3000

4000

5000Tuition

0

1000

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008

2008-09

Those Numbers Reflect Blessings gand Challenges:

We have operated in the black every year in the last decade.Net assets at the end of FY2007 were $13.5 millionmillion.Our last capital campaign garnered commitments totaling over $6 millioncommitments totaling over $6 million

Those Numbers Reflect Blessings gand Challenges:

Tuition has climbed 83% in ten years. Is that sustainable over the next decade?The loan for CPAC will need to be refinanced in 32 months What prudent steps must we take to 32 months. What prudent steps must we take to insure the school’s future?What impact will the current economic downturn What impact will the current economic downturn have on enrollment and our ability to raise tuition and 3rd source funds to support the school?and 3rd source funds to support the school?

Our MissionOur Mission

Our mission is to provide an excellent education in a Christ-centered environment to the southern Nevada community.

An Excellent Education…An Excellent Education…

Faith maintains accreditation through the Northwest Association of Accredited Schools (NAAS) and National Lutheran Schools Accreditation (NLSA).( )Typically, 90% of our graduates go on post-secondary educationsecondary education.Over half of our faculty now have a Master’s degrees or abovedegrees or above.


SAT Results

1040

1060

1080

1000

1020

1040

Faith SAT Nat'l SAT

960

980

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

2007-20081998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008


ACT Results

23

24

25

21

22Faith ACT

Nat'l ACT

19

20

1997-1998

1998-1999

1999-2000

2000-2001

2001-2002

2002-2003

2003-2004

2004-2005

2005-2006

2006-2007

2007-2008

An Excellent Education…An Excellent Education…Score 2002 2003 2004 2005 2006 2007Score 2002 2003 2004 2005 2006 2007

5 0 3 0 3 8 10

4 3 7 13 27 22 22

3 19 10 31 45 62 59

2 26 51 51 39 47 52

1 21 25 13 20 9 181 21 25 13 20 9 18


Iowa Test of Basic Skills

2002 032003-042004-052005-062006-07

8th

1998 991999-002000-012001-022002-03 7th

6th

0 20 40 60 80 100

1997-981998-99

Class Percentile rankings

In A Christ Centered Environment…In A Christ-Centered Environment…

All of our faculty confess Jesus Christ as Lord and Savior.55 of 94 faculty are synodically trained. An additional 3 are Lutheransadditional 3 are Lutherans.Our nationally recognized chapel program points students to Jesus!students to Jesus!

We are nationally recognized for being mission We are nationally recognized for being mission driven. Each January we baptize 6-12 people which often includes parents and siblings of Faith students.We are nationally recognized for being mission driven. Each January we baptize 6 12 people which often Each January we baptize 6-12 people which often includes parents and siblings of Faith students.

The Mission Field Is Ready For yHarvest

Last year 23% of families reported no church home.Faculty estimate that at least 1/3 of our students are not in church regularlyare not in church regularly.This represents an ongoing opportunity for partnering with our Association congregationspartnering with our Association congregations.

To the Southern Nevada Community…To the Southern Nevada Community…

Faith draws students from 50 different zip codes through the valley.g yOur minority population is 15%. Hispanics and African-Americans are underrepresented in our African Americans are underrepresented in our student body, but consistent with Summerlin demographicsdemographics.

To the Southern Nevada Community…To the Southern Nevada Community…

We currently have waiting list for grades 6-8: these are missed opportunities to share the ppGospel.Faith has had a positive impact on enrollment at Faith has had a positive impact on enrollment at Lutheran elementary schools.Re examining admissions policies and practicesRe-examining admissions policies and practices.Resource and Mark 10:14

PraisesPraises….

A growing student bodyPremier facilitiesPremier facilitiesAn outstanding leadership teamF ith d i h lFaith driven schoolHigh degree of parent satisfaction (+85%)Leader in school technology

ChallengesChallenges…

We need to grow our financial aid resources (endowment and direct scholarships)W d t i d bt d hil ti i f ilit We need to manage our indebtedness while continuing facility improvements (Middle School Building; 2nd gym; improved athletic facilities))Reaching our technology goals without dramatically impacting tuition rates.M f ll th t 4A thl tiManage successfully the move to 4A athletics.Build a sustainable financial model not fueled by enrollment growthgrowth

OpportunitiesOpportunities….

Faith East???Introduce students and families to JesusIntroduce students and families to Jesus.Deepen faith relationships.D l t h llDepopulate hell.

We are blessed to be your ministry!We are blessed to be your ministry!

annual report august 2008

Spiritual