Headwaters School 2023-2024 Annual Report

2023-2024 Annual Report

Dear Friends of Headwaters, Headwaters has a practice called Acknowledgements that we use regularly with students, faculty, staff, and trustees. When we invite Acknowledgements of each other, whether it’s at The Forward, in a Pitso, as part of a faculty or board meeting, we are, in essence, saying to another person, “I see you, I appreciate you, and I am grateful for you.” In the spirit of Acknowledgements, we want you, who have given so much to the school over the past year, to know that we feel your impact and we are grateful. This annual report, in part, tells the story of monetary giving over the past year. But our community runs on connection, volunteering, and service too. So, in addition to the financial gifts, we acknowledge: • The parent volunteers who sustain the library • We acknowledge the guides who care for students on the Creek Campus by reshelving books, when the day has been challenging, they have reading to the students, and keeping the forgotten their lunch, or lost their project. And what space tidy and welcoming. of the guides who go out a day early on The Forward • The parent volunteers (a.k.a. Faculty Lounge to ensure the seniors have a memorable experience? Fairies) on the River Campus who keep the • We acknowledge the staff who fix the broken faucet, fridges stocked with bubbly waters and the find the paper jam, stay calm in traffic, or sing with shelves full of snacks to get through the day. the students at the Winter Concerts. Ted Graf, • And what of the parent volunteers and • And, finally, we acknowledge the students who Head of School gardeners on the Springs Campus who have support their friends or care for their guides or who enhanced the Peace Garden and organized speak out for a cause or who raise money to address the clothing swaps? an injustice. I hope you’ll join us in 2025 as we write the school’s next chapter and support each other as we strive to lead with curiosity, pursue meaning, and live the PACT. With gratitude and hope,

Abigail Rosenthal and Sean Taylor Dale and Lisa Evert Lisa Olstein and David Goodrich Adrienne and Charles Farmer Dan Floyd and Tracy Manier Lyren Brown and Clarice Laires Aiysha Dahlgren Dan Gilkison and Jenn Wooten Madhu Natarajan Akeem and Tiffany Rose Smith Dana Dawson and William Schwant Madison and Laura Cooper Alexandra and Josh Penry Duncan and Laine Montgomery Mandy and Aaron Levy Alexandria Ross and Tad Glauthier Edward Muzio Mark and Laleh Moffatt Allan and Tracey Cole Eileen and Drew Liedeker Mark Gaston and Jennifer Fenton-Gaston Amanda and Dennis Myers Elaine King and Peter Fitzgibbon Matt and Suzanne McGinnis Amanda Gane and Dan Bullock Eric de Valpine and Cari Marshall Matthew and Heather Galvano Amanda Johnson and Leah Cochran Eric Holden Matthew and Vanessa Vance Amy and Rob Nylund Eric Miramon and Paw Sriprasit Michael Postel 2023-2024 Amy and Ryan Rostvold Erin and Michael Moffitt Michelle Nezamabadi and Aaron Radicke Amy Estes and Tobin Scroggins Erin Fassnacht and Brian Phillips Monica Shah and Brian Dunigan imPACT Crew Amy Morgan and Robert Gasper Gabe and Julie Bigger Natalie Turner and Erin McNeely Donors Andrea and JR Andreassen Giancarlo Jaccoma and Monalisa Solis Nicholas Zhang and Jennifer Root Angela and Ashlyn Gentry Yue Heather Schafer Nichole and Zachary Been Thank you to our Angela Dunn and Simel Bey James Klinect Paul and Kendyl Shrogin Armando Busto Iturbide and Patricia Jana and Ken Bodeman Priya Garg and Scott Lee donors who increased Nunez Garcia Jeff and Cecilia Hogan Rebecca and Theodore Kalomiris their giving by 10% or Benjamin Appl and Deborah Lykins Jenna Martin and Tal Tversky Richard Bitz and Genevieve Okpara Brad and Megan Bell John and Angela Lively Richard Esselstyn and Jill Kolasinski more in 2023-2024! Brendan and Mindy Maloney John Smolik Robert and Julia Foree Brenna Forsyth Jon Dupuis and Jessica Mullins Robin Scott and Rob Hammett Brian and Mouna Evans Julia Hart and Carl Krueger Rosie and Tony Chavez Brian and Shannon Szymczak Kat Postel Samantha and Chad Hooten Brittney and Andy O’Connell Katherine and Reid McCoy Semih Yanyali and Tifani Vernon-Yanyali Carina Alderete and Noah Moncivais Katie and Patrick Gallagher Sheila Dubin Cassandra Abate and Nicholas Lawson Katie Creel and Tyson Schritter Tamara Mayfield Chris Houston and Anne Bingham Kellee Coleman Tami and Brad Esson Chuma and Oluwadara Chike-Obi Kelly Bonsall and Sean Headden Todd and Courtney Erickson Colin and Moya McIntyre Kirk Larson Tricia and Mark Jones Colin and Vanessa MacDougal Kit Purdy Will Simpson and Avé Luke-Simpson Cori and Oded Doron Larry and Kelli Foulkrod William Blacklock and Tamara DeHay Cynthia and Edward Marcotte Leslie and Jerry Justin Davis Zinthia Flores and Rodrigo Becerril

Adam Annen and Mairin Heard Annen Alejandra Velez and David Bracher Alex and Lillian Ducote Alexandra and Jason Deifik Alexandra Gantley and Micah Perry Alexis Bledel Alexis Cohen Alicia and Lawrence Kennedy Alinda Cox Alison Burton Alison McMillin Alli and Matt Schukar Ally and Conner Sivewright Amanda and Garett Owens Amanda Major Amber Anderson Amy and Kelly Kading Amy Lowrey and Magnolia Lowrey-Sugg Anand and Maggie Anbalagan Andrea Castagno and Hunter Barnes Andrew and Robin Eubanks Andrew Correll and Alma Aguilar Andrew Medina Anita Solberg 2023-2024 Anne Marie Palmer Arthur Coviello Donors Ashley and Peter Shenk Barbara Donaho and Jason Sugawa Barbara Grant Boneta and Simon Hernandez-Arthur Barbara Maloney Becky Middleton Bedina O’Neill Ben Fernandez

Benjamin and Patrycja Queener Christine Edwards and John Weidler Earnie Solomon Impact Trial Consulting Bob Gunther Cindy Vreeland Eileen Crossin and Simon Moore Independent Financial Bobby Bullard Claire and Charles Blackburn Elena de la Torre India and Andrew Gallagher Bochi Evans Clay McMillan Elizabeth and Cody Vickers Irena and Evan Schmidt Book People Clint Dickson and Stephanie Gantos Ellen and Lester Ducote James A. Rodriguez Box Tops for Education Dickson Ellis and Lucy Oglesby James and Jennifer Austin Brannon Via and Eric Ortmann Cody and Kristen Fields Elton and Anna Stewart James Bor-Zale Brenna Randolph and Eman Sojoodi Colin Buechler Emily and Cassidy Crocker James Lyons Brian and Sara Pitre Cora Skinner and Tero Isokauppila Emily Crumley Jason and Anna Elisa Baker Brian and Sarah Rock Cornell Smith Mierl & Brutocao, LLP Eric and Amy Rangel Jason and Jennifer Parkman Brian and Vanessa Rigsby Cortney Hall Erica Parfit Jason Choy Brian Yager Courtney and Nichole Abshire Erin and Brett Busby Jason Lewiss Bridget and Daniel Brown Cristina Coleman Erin Sheppard and Luis Cervantes Jason Liss Bridget Janso and Aaron Brown Curt and Emily Laughlin Eunice Duong Javier Jara and Jane OBrien Brooke and Sam Frazier Cynthia Bode Fabian Ng and Rain Tan Jazmine and Kevin Gelfand Building Solutions Daniel and Jessica Ramirez Felicia Ellsworth Jean Germain Cait Taylor and Evan Smith Danielle and Evan Erdberg Franz and Sarah von Hapsburg Jeff Albrecht Caitlin McDermott and Dane Depinho Danielle and Thomas DeLuna Frost Insurance Agency, Inc. Jeff Dennhardt Caleb Davis Dave Cortez and Rachael Neal Gabriela and Tim O’Connor Jeff Soller Carl Hunermund and Kara Murphy David and Dana Jencks Gail Glass and Whizzy Heritage Jeffrey and Amy Lilly Carmen Brown and William Olmsted David and Erica Heroy Gezim Drenova and Tanya Kennel Jen and Noah Masterson Carol Barry and Kevin Barrett David Cavanaugh Goldfish Swim School Jennie Glass and Nawi Reyna Carol and Stephen Rosenthal Deb and Kevin Carney Gordon and Lisa Fischer Jennifer Clifford and Blake Mikol Carol Fonken Deborah Barton and Ed Smith Grace Hocking Jennifer Giroux Caroline and Rob Dixon Debra and Eduardo Martinez Greg Lantier Jennifer Maas and Matt Sullivan Cat and Abdul Sulieman Derrick and Vanessa Williams Griffin and Kathy Lord Jennifer Phillips Catharine Sonnenberg DeVante Cloud Guillermo Leal-Collazo and Vodga Jennifer Skiffington and Rudye McGlothlin Cathleen and Shawn Slack Diagnostic Clinic Of Victoria Hernandez Jenny Frazier and Jillien Miller Cesar Mendez and Karina Rascon Dianni Ortegon and Haley Harris Hannah and Joel Knight Jeremy and Errol Petrie Chad Leath and Kheira Ardjani Dominic Massa Harry and Caroline Olmsted Jeremy and Talia Bennick Chelsea and Joshua Scott Donald and Emily Van Court Harry Hanson Jerry and Wesley Aubin Chip O’Neill Douglas Rauls Helen and Robert Cooper Jeslyn Schuh and Lee Chavez Chris and Arielle Larson DuBois Bryant & Campbell Hilda Reilly Jessica Gallagher Christina Keller Dwyer Murphy Calvert LLP Iektje Dita van Bolhuis and Matt Stephens Jessica Hargest and Lou Marchetti III

Jessica Kingman and Allan Murphy Krista Phillips Marcy and Sam Greer Nancy Ryan and Matt Belew Jessica Rio Kristen Pacotti Maria Govoni and Peter Pettinari Nanette Bledel Jiaqi Cheng and Qiao Kang Kristina Julich and Patrick Heimbach Mariah Craven and Olivier Farache Natalie Snowden Joe Mueller Kristy and Adam Battani Mark and Miriam Poag Neil Minocha John Fabian Lopez and Rosario Granados Krystal and Ryan McCarthy Mark Selwyn Neils Poulsen John Hobgood L. Stacy Christie and Travis Young Martina Campa Nicole and Joe Miller John Murphy Laird Trial Consulting Mary and Eric Shuman Nirav and Sapna Bhagat Jon and Michelle Grimes Lara Schmidl-Simandi and Nadine Doyle Mary and Matt Heerwald Noe Tavira, Jr. and Dolores Escamilla Jonathan Cox Larry and Karen Ercoline Mary Irreno Norma and Jeff Van Horn Jonathon Wilson and Jaclyn Anderson Lauran Janes and Evan Lambert Matt Hoff Page Architecture Josh Stern Lauren Fletcher Matthew and Christina Loftus Paige Haber-Curran and Thomas Curran Jote Khalsa and Matt Clawson Laurence Prodel Matthew Donaldson and Jennifer Graham Paola Cortes Reyna and Mark Manthey Julia Still Laurie and David Rocha Maxwell Locke & Ritter Patricia Abate Justin and Angela Aaron Lenise Jennings MB Cleaning Services Patricia and Joshua Luber Justin and Katherina Bryant Lesley Regan Md Shaheen Ahmmed and Laila Kanak Paul and Sarah Armendariz Kari and Brian Savage Leslie Hirsch Meg Moore Paula and Sheldon Pacotti Kari and Michael Sarahan Lidia Galarza Mei Hu Paula Sanchez and Gilbert Fabian Karolina and Michael Russo Lindsay Doleshal Melanie Meador and Cathy Morris Phil Brennan and Jennifer Knight Kate Saxton Lindsey Long Melina and Reies Flores Preston and Elsa Wilson Katherine Brennan Lisa and Josh Day Melissa and Michael Stavitz Rachael and William Biggs Katherine Jones and Don Pitts Lisa and Michael Furrh Melissa Solomon Rachel Bier Kathryn Zalewski Lisa Dubuque-Wood and William Wood Meredith and Jesse Weiss Rebecca Merino Kathy Tan and John Wang Lisa Tillinghast and Richard Erhardt Metcalfe Wolff Stuart & Williams, LLP Robert and Ellie Montgomerie Katie and Amador Riojas Lori and Brett Strong Michael and Amelia Miller Robert and Shirley Dubuque Katy Oliveira-Lambert and Paul Lambert Lorraine and William Bonsall Michael and Lili Powers Robert Mohundro and Ashley West Kaylin King and Alison West Louis Tompros Michael Summersgill Robert Schoenmann and Wanda Keegan and Stacey Archer Lucille and Oscar Berrones Michele Solberg and Oliver Steck Shoenmann Keith Martin and Jennifer DiZio Lucy Zhao and Vicky Yu Miguel and Andrea Centeno Rosabel Noblitt Kelly and Richard Edwards Luke Jacobs and Carrie Rodriguez Mike and Sara Largent Ruth Anne and Daniel Bloor Kelly Dickens and Linda Neaval Dickens Lupy Cepeda Mindy Sooter Ryan and Rekiatu Buechner Kelsey and Matthew Schmertz Mabel’s Labels Missy Gray Sam and Dana Stewart kidsActing Madeline Newchurch Misty Mathis and Justin Poag Samantha Papadakis and Robert Kimberly Rutledge and Lee Dykes Madicyn Villalobos Mollie and Matt Ewing Richardson Kirk Cullen Kingman Magdalena Vial Monique and John Mulvany Sandi Russom and Ernesto Morales

Sara and Eduardo Lopez Ted and Amy Graf Sarah and Jim Gagliardi Terra Lynch and Aric Cheston Sarah McCracken and Andrew Merrill Terri and Fred Haas Sarah Petty Theresa Anastasia and Sigifredo Gonzalez Scott Gray and Lynelle Keil-Gray Thomas Sellstrom Scott Shoultz and Karla Cruz Shoultz Tia Butler and James Mussman Semira Nikou and Andrew Rothgaber Tiffany Goodman Bilbe and Mitchell Bilbe Shaheen Kauser and SHARIQ Tim Reilly MOHAMMAD Tom and Lori Provost Shamaa Lakshmanan and David Gulley Tommi and Chris Collard Shaneitra Cockrell TreeRing Corporation Shari Stoker and Avinash Troy Cole Lakshminarayana Troy Gilbert and John Wright The Birth of Our School’s Endowment: Sharon and Tobias Evgenides Tye Ripma and Celina Artusi Shawn Calamari and Mandy Waid Tyler and Lesley N Blessing A Legacy Sparked by Student Leaders Sirinun Srisangnam and Tanunnop Tyler Mosley Hanwong Valerie and Michael Daubert Last spring, Eli Floyd and Eli Jones, two visionary Skylar Gaston Vic Twilla Square 1 Art, LLC Vikram Iyer members of the Class of 2024, laid the foundation Stephanie Barraco Waterloo Swimming for Headwaters School’s endowment. Their story is a Stephanie Klinect Will Clark Stephanie Roach and Hannah Osborn William Lee powerful testament to Headwaters’ values—especially Stephen Clarke William VanWart and Buff Strickland the belief in letting students lead. Steve & Kate’s Camp Steven and Christina Quach Eli and Eli, both passionate and curious thinkers, Steven and Jennifer Fleming Thank you to Steven Horn founded an investment club with the goal of learning Susan Sloan our 2023-2024 about finance through real-world application. Their club Susanne and Randall Evans Susie Demarest donors! wasn’t just about numbers; it was about understanding T.J. and Kelly Palvino how financial tools could create meaningful change. Tamara and Katrina Yarborough Tamara Bryan and Jeremy Minton Over time, their dedication paid off—literally. They Tanya and Michael Johns earned $650 in proceeds through their investments. >

Rather than enriching themselves with the proceeds, the two Elies made a remarkable decision: they would donate their earnings to establish an endowment for Headwaters School. Their vision was clear—they wanted their efforts to help sustain the school they loved so much. The journey to this milestone was shaped by the Eli Floyd school’s genuine respect for Eli Jones and Eli Floyd’s initiative. Recognizing their passion for finance and their desire to make a Eli Jones lasting impact, the Head of School and Head of Finance invited the two students out to lunch. This meeting wasn’t just a gesture; it was a serious conversation about the school’s financial structure and the potential their efforts could unlock. By treating their ambitions with the same gravity as any adult proposal, the school affirmed its belief in student leadership and its trust in Eli and Eli’s vision. This pivotal moment reflects the essence of who we are as a By empowering students like Eli Jones and Eli Floyd, we foster school. not only innovation but also the sense of responsibility and purpose that shapes true leaders. What began as a student-led initiative with $650 has now become a cornerstone for our school’s future. Eli Jones and Eli Floyd’s legacy reminds us all that leadership knows no age.

Coming Together at the Headwaters School Community Picnic Each May, the Headwaters School Community Picnic brings together over 400 members of our community for a day of connection and celebration. As our largest event of the year, the picnic serves as a chance for families, students, and staff to enjoy time together outside the classroom, building relationships and sharing in the unique culture of our school. The picnic is also an opportunity to welcome newly admitted families into the community. Whether they’re joining in on a field game, trying their hand at button-making, or simply enjoying live music on the lawn, new families quickly get a sense of what makes the Headwaters community so special: a mix of warmth, collaboration, and shared values. With activities ranging from swimming to coloring stations and a popular clothing swap, the event offers something for everyone. It’s not just a day for fun—it’s a reflection of our community’s commitment to creativity, sustainability, and connection. For many, the picnic is a highlight of the year, marking a moment to slow down and appreciate the vibrant network of people that make up Headwaters School. As we look ahead to this spring, we’re excited to once again come together for this tradition that continues to grow in spirit and significance.

Overview of Audited Financials, 23-24 School Year INCOME STATEMENT STATEMENT OF FINANCIAL POSITION Revenue 2023-2024 2022-2023 Assets 6/30/2024 6/30/2023 Tuition & Fees $9,827,841 $8,970,493 Current Assets $8,417,199 $7,498,561 (Net Discounts & Fixed Assets $11,761,120 $11,909,275 Financial Aid) Contributions $233,647 $283,560 Right-of-use Assest $600,805 $1,181,401 Contributions of $1,160,838 $2,182,629 Total Assets $20,779,124 $20,589,237 non-financial assets Auxillary Income $1,662,738 $2,073,579 Liabilities & Equity 6/30/2024 6/30/2023 Total Revenue $12,885,064 $13,510,261 Current Liabilities $3,530,959 $3,911,994 Long Term Liabilities $6,621,916 $6,775,622 Expenses 2023-2024 2022-2023 Operating Lease $705,218 $1,376,568 Educational $8,953,053 $9,352,904 Liability Fundraising $441,295 $494,820 Finance Lease Liability $94,872 -- General & $2,189,610 $2,012,235 Total Liabilities $10,952,965 $12,064,184 Administrative Total Expenses $11,583,958 $11,859,959 Net Assets $9,826,159 $8,525,053 Total Liabilities and $20,779,124 $20,589,237 Changes in Net Assests $1,301,106 $1,650,302 Net Assets

13% Revenue $12,885,064 Auxillary 9% Income Contributions of non-financial assets 2% 19% Contributions 76% General & Tuition & Administrative Fees 4% Fundraising 77% Educational Expenses $11,583,958

Anand Anbalagan John Berkowitz Keith Martin Jessica Rio Magdalena Vial Board of Trustees Stacey Jordan Brian Szymczak Tracy Manier Jean Yang Every Gift Matters, Make Yours Today headwaters.org/giving