This is one of five case studies from the National Association of Independent Schools about schools that are making nontraditional funding models work for the benefit of low-income students. See the full set of case studies.
Profile: The Waterside School serves pre-K–5th grade. The 155 students come from 130 families who hail from 31 countries. Seven percent of operating expenses are covered by tuition. All students receive aid.
History: The Waterside School began in the mind of hedge fund manager Chip Kruger. While playing golf at the Innis Arden Golf Club in Greenwich, Connecticut, he noticed that the seventh green bordered Stamford’s impoverished and crime-ridden South End. As Kruger considered his own opportunities and the prestigious schools his children attended, including Brunswick School in Greenwich, he felt compelled to do something. So he set out to start an elementary school for low-income families in the South End. He began by raising $2.5 million in seed funds and renting space from a local Catholic church.
After recruiting its first class through a door-to-door campaign in neighborhoods and community centers, Waterside School opened in 2001. Over the next three years, Waterside hired top administrators from nearby schools, including Executive Director Duncan Edwards, a 14-year former headmaster of Brunswick, and Head of School Jody Visage, a 20-year administrator from Greenwich Academy.
Financial Model: Edwards describes the school as the noblest of endeavors with the most challenging of financial models: an independent school with everything but a guaranteed revenue stream. Contributions cover the largest segment of the $3.4 million budget, 93 percent. Tuition covers around 7 percent of the school’s operating costs, estimated at $23,000 per child.
Strengths:
• Strong board and community support. Waterside’s board includes partners and principals from financial institutions, multiple philanthropists, and others with a shared passion, great heart, will, and capacity. Although the school struggled mightily in its early years and again during the 2008 recession, it conducted a $23.7 million capital campaign and opened a state-of-the-art facility in September 2011. As of 2016, free from the burden of debt, the school has built a $17 million endowment. “There is a desperate need for what we are doing because of the vast potential of those we serve, the significant gap in achievement between rich and poor, and the lack of proper opportunities for the children with less,” said Edwards. “Stamford has the benefit of being surrounded by communities of means with incredibly generous people who look at the situation, understand the obligations that accompany their many blessings, and simply cannot help but care.”
• Connections with other independent schools. Ninety-eight percent of Waterside graduates obtain scholarships to nearby college preparatory schools. From there, they go on to some of the finest and most selective colleges in the country. To smooth the way after fifth grade and ensure the greatest return on the investment made, Waterside continues its commitment to its students even after they graduate from the school.
• Partnerships. Key to Waterside’s success is its proximity to prestigious institutions. Collaborators include the athletic and literacy programs at Yale University, teaching and leadership programs at Columbia University, the American Ballet Theatre, the Fordham Graduate School of Social Service, the Philharmonic Orchestra of the Americas, and leading local independent schools (St. Luke’s School, Greenwich Academy, and Greenwich Country Day).
Challenges:
• The tough work teachers face. Many students enter Waterside a year or more behind their independent school counterparts academically. They often have limited resources and meaningful challenges outside of school. Teachers must bring the students up to grade but also attend to their emotional and social needs. The job requires a special commitment, an unrivalled work ethic, and empathy and creativity. The school also provides social services that include parent education classes, after-school programs, and access to psychologists and individual counseling. “The work is ridiculously hard,” said Edwards. “But there’s a slice in the teaching market for whom this is the ‘dream job’ — this is teaching in its purest form.” Along with a variety of academic enrichment programs, the school offers a diverse arts program including ballet, piano, violin, chorus, and drama.
• The discernment and care required to recruit and retain the right teachers. “The hard thing for the faculty is weathering the demands and emotions year after year. It’s draining and, as they care so much, it can take a toll,” said Edwards. “But for the right teachers, being able to work in this type of school — with the requisite resources, the proper ambition, and, now, financial security — the persons we have gathered would do nothing else. They truly feel called to the work.” Waterside works hard to make sure its teachers feel supported and receive the professional development they need to stay motivated and avoid burnout.
More information: https://www.watersideschool.org/