Overview of Conway School Finances, January 2021

Below please find Conway’s audited financial statements for the fiscal year ending June 30, 2020. We received a “clean” or unqualified audit opinion from our external auditors; this means that the financial statements are presented fairly and have no material misstatements.

Ordinary school operations were disrupted by the Covid-19 virus, beginning in the last quarter of fiscal year 2020 and extending through the current year, FY2021. Despite these disruptions, the Conway School ended FY2020 with a surplus and even though there are no in-person students in the current year (and thus no tuitions or fee-based student projects), the school is also on track to end FY2021 with a surplus. During FY2020 the school received a $105,000 loan (since forgiven) from the Small Business Administration Paycheck Protection Program, and in this FY2021 year we have received $500,000 from the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act. We have also raised 41% of our $2M capital/scholarship campaign to pay for the new Northampton campus and establish an endowed financial aid fund.

Since 2017, the Conway School has moved from its Conway, MA campus, and after an interim tenancy in Easthampton, moved permanently to a new campus in Northampton, MA. This improved facility has had (and will continue to have) direct positive impacts on the institution’s financial resources, enabling us to continue our improvements in student recruitment, reduce expenses, strengthen our non-hierarchical approach to management, and achieve our academic mission.

Audited Financial Statements

 

Printed copies of Financial Statements and other school publications may be obtained by sending your request to:

The Conway School
attn: Bruce Stedman
88 Village Hill Road
Northampton, MA 01060
Telephone: 413.369.4044
Email: director@csld.edu