The HMS Board of Trustees gathered via zoom on Tuesday evening for our monthly meeting. It was a rich, full meeting, with animated, thoughtful discussion regarding the endowment, leadership, Board transitions, and succession, and getting focused for some important upcoming events.
First, we learned a great deal about the endowment from our former Treasurer and current leader of Hilltop’s Investment Committee, Travis Shine. We learned about the investment philosophy and partners which Hilltop has adopted. We discussed in detail the balance between annual withdrawals to support our cash flow, indexed tuition, and efforts towards equity, as well as the growth goals for the endowment which we have established. We voted to approve our annual endowment draw – this is a budgeted amount of $100,000, and, thanks to the receipt and forgiveness of two substantial PPP loans in the past couple of years, we were able to approve an amount substantially less than in pre-pandemic years. Thank you, Travis, for so capably guiding the conversation!
The most exciting conversations of the evening, however, revolved around Board leadership and membership. We have a number of people rotating off the Board at the end of this school year, and we are really excited to invite community members to join the Board! We will have space for up to 4 new Trustees to start with the next school year. If you have been looking for a way to get more involved with the school, we invite you to serve on the Board of Trustees! In addition to our monthly meetings during the school year, we have a variety of standing committees doing exciting work to support all aspects of the school, from Buildings & Grounds to Development to Finance, and ad hoc committees, including the Strategic Plan Committee and the 50th Anniversary Planning Committee. No experience necessary, just enthusiasm! Stay tuned for details on our upcoming Open Board Meeting to be held on Wednesday, March 23rd at 6 p.m., which is a great opportunity to learn more specifics.