Capital Campaign
Preserving the Past~Ensuring the Future
December 2009 Update
At the November Board of Trustees’ meeting, it was unanimously decided to break ground on the arts building by April 2010. Read more about the project in the December 21st North Adams Transcript http://www.thetranscript.com/ci_14040445.
June 2009 Update
by Franny Shuker-Haines, associate director
Fantastic news! After five years, thousands of letters, hundreds of phone calls, myriad visits, multiple speeches, many appeals, and lots and lots of enthusiasm, we have done the near-impossible: We have finished our first-ever four-million-dollar-plus capital campaign! We couldn’t be more pleased, proud, or grateful. And we couldn’t have done it without each and every one of you.
When we first embarked on this ambitious fundraising project, we asked a development expert to conduct a feasibility study to help us determine a goal for the campaign. At that time, she said the most we could hope to raise would be a little over three million dollars. In a moment of bravado? naivete? unbridled optimism? something, we decided to raise that figure by a million dollars, setting ourselves a goal of just over four million dollars. And guess what? We made it. Amazing.
The campaign had three primary goals: to build a new classroom/science building, to build a new fine-arts complex, and to increase the school’s endowment. As most of you know, the new classroom building has been up and running for several years now, becoming a hub of the campus and a symbol of the school’s ongoing strength and growth. The fine-arts complex has been many years in the planning, and is essentially “shovel-ready.” But because of the recent economic uncertainty, we have made a decision to hold off on breaking ground for the moment. The money for the building is safely earning interest, and we would like to keep it there for a little longer while we see what effects the downturn might have on us. In spite of our recent fundraising success, Buxton continues to hang in a delicate balance of tuition income, annual fund dollars, and interest income from our endowment accounts. Until we are confident that the economy is back on reasonable track, we are going to keep our assets liquid and, as a result, our options open.
Rest assured: the arts complex will be built; it’s just a question of timing. And the endowment has already benefited from all of this fundraising activity and success. What a testament to the dedication of Buxton’s alums, trustees, parents, grandparents, staff, faculty, and friends!
Once again, our deepest thanks for all of your generous contributions and ongoing belief in—and support of—this precious, unusual, extraordinary school. The capital campaign has been a thrilling ride, and it’s been great to take it with all of you.
$4.2 Million Raised Toward Our $4.6 Million Goal!
January 2009 Update
by Pete Smith ‘74, co-director
Close to five years ago, during the master plan phase of the current capital campaign, the construction of a new arts complex was identified as one of the primary goals of the campaign. Black River Design, an architectural firm out of Montpelier, Vt., who had been deeply involved in the master plan and designed the renovation and new construction for the new “New Building” (now referred to as the Classroom Building, except by some of the veterans), were re-engaged to execute the design for the arts complex. A dedicated Building Committee was formed and was made up of three current board members, all arts, and some non-arts faculty. This committee met with BRD over the course of a year to grapple with and ultimately hatch a plan that we all thought best served the needs of the student body and the ever-expanding arts programs at the school.
A couple of pressing needs were quickly identified: the art studio was no longer big enough to accommodate the increasing number of students who wanted to take structured studio arts classes; the proximity of the darkroom to the ceramics studio was less than ideal for dust control; because of the basement locale for the ceramics studio, headroom was comprised and ventilation was poor; a burgeoning video production class was relegated to a couple of leftover computers in the corner of the basement (dust an issue here, too), doing battle with the large-format digital printer and having to share computer access with other digital photography pursuits. The list goes on.
The complex, as it is designed, is made up of three buildings. It is set at the lower edge of the Upper Field just south of the Tool Shed, where some of the best views in Williamstown are available. The buildings are intentionally pushed back to keep the open meadows that were identified during the master plan as being a unique characteristic of the Buxton campus, and worthy of preservation.
Site Plan by Black River Design
These are dedicated structures: one for ceramics, one for music, and a larger building that will house an art studio, an adjoining gallery space, a graphics room, a darkroom, and an outfitted video production classroom. The darkroom will have the capacity to continue traditional analog photography, developing, and printing processes and have a separate area for digital developing and printing. The music classroom will be built in the style of the original Tool Shed, but with a much improved heating system and better storage space. The practice rooms will be expanded and more consideration will be given to soundproofing. (Alas, the Tool Shed will have to move to make way for the new, but hopefully it can be preserved and used elsewhere on campus.) The heating system will be radiant in the floor and will have a large wood-burning unit with an oil backup, similar to the system in the new Classroom Building. We hope to outfit the building’s roof with conduit to enable a relatively easy transition to solar panels down the road. (Currently the Environmental Science class is considering the execution of a feasibility study of what would be involved and how much it would cost to “go solar” at the arts complex as a class project. We’ll keep you updated.)
View from the Meadow
Proposed startup date is Spring 2009, after the thaw. This gives us the additional time to assess potential cost, adjust design if necessary, and hopefully weather at least some of the current nationwide financial turbulence. The hope is have the building at least partially open and functioning by the fall of ’09 and fully operative by the spring of ’10.
FREQUENTLY ASKED QUESTIONS ABOUT THE CAMPAIGN
What is Buxton’s Campaign Preserving the Past – Ensuring the Future?
The Campaign is the most ambitious fundraising initiative in the School’s history. This is a comprehensive initiative, encompassing all types of contributions to Buxton: capital, endowment, and any other form of philanthropic contribution.
What is the goal?
$4.6 million by 2009
How much have we raised so far?
Over $4.1 million in gifts and pledges as of January 2009.
What are the fundraising priorities?
• $1 million to renovate classrooms in the New Building and addition of adjacent new biology laboratory
• $1.2 million to construct a Fine Arts Building to expand studio art space with a dedicated space for a ceramics studio and photography
• $2 million to increase endowment for unrestricted use, scholarship and faculty enrichment
• $400,000 for major capital improvements to the campus and physical plant
How does Buxton decide what to seek funding for?
We conducted a strategic planning process that involved all of the School’s constituencies and developed a long term financial plan based on solid projections about students, tuition, and campus needs. The campaign seeks funding for endowment and building priorities as a result of strategic planning.
What exactly is endowment?
A school’s endowment is a fund invested permanently, which generates income to meet annual needs. Strengthening Buxton’s endowment will provide a predictable source of income to stabilize the operating budget, support innovative academic programs, underwrite student financial aid, and provide a cushion from year to year.
Buxton’s endowment is managed by financial professionals following tightly drawn guidelines for socially responsible investing. Though invested as a whole, Buxton’s endowment in fact consists of a number of separate funds. Unrestricted endowment feeds income into general operations. A restricted endowment fund-a fund established by donors for a specific purpose—provides income to support only that purpose.
Two financial aid funds have been established and may be supplemented by additional gifts: The Benjamin G. C. and Magdalene J. Fincke Scholarship Fund and The C. William Bennett Scholarship Fund for Diversity.
Contributions may also be made to endowment funds to support faculty. They include: The Diana Hitt Potter Faculty Fund and The Ben and Nancy M. Yedlin Faculty Enrichment Fund.
Which gifts count toward the campaign goal?
All gifts and grants received during the campaign period count toward the campaign goal. Contributions of cash and negotiable securities are by far the most common types of campaign gift. Some in-kind gifts (for example, gifts of real estate or art), if accepted by the School, will be professionally appraised, and their appraised value will count toward the campaign goal. Bequests and other planned gifts may count under certain circumstances.
What’s the relationship between the campaign and the annual fund?
The annual fund—also called The Buxton Fund—is an established source of income, supplying nearly 10% of the annual budgetary support of the School. These gifts are needed to augment faculty salaries, academic and athletic programs, financial aid, and general school maintenance, none of which are covered by tuition alone.
We sincerely hope that if you have been a loyal contributor, you will continue to support the Buxton Fund and, at the same time, will make an extra effort to participate in our Capital Campaign. If you are a new donor, we encourage you to support both of these important programs.
How can I help?
There are three easy ways to help:
1) Increase your level of support through the campaign period, including planned gifts such as bequests and trusts.
2) Reinforce your connection to Buxton by becoming more involved in alumni activities and serving as a resource for prospective and current students in your region.
3) Become involved by serving on a campaign committee, co-hosting a campaign event, etc.
To learn more about ways to become involved, please contact Maria Vincent.
Maria@BuxtonSchool.org
291 South Street
Williamstown, MA 01267
413-458-4970