Under the leadership of its fourth headmaster, A. Baker Duncan, Woodberry Forest School came to be managed as a modern business, beginning in the mid-1960s. Innovations included investing short-term surplus funds (from tuitions and fundraising) in higher-yielding, safe investments through the Common Fund and other safe sources; setting up lines of credit (for capital projects) favorable to the School based on its historic balances and fundraising ability; and generally leveraging the School's strong financial position — to the benefit of Woodberry Forest, rather than to the profit of small, local banks, where short-term surplus funds had formerly languished.
It was enlightened moves and policies such as these which changed the financial outlook at Woodberry Forest, and led to future prosperity. If change had not occurred, the school would not have (a) protected and expanded the value of its existing assets, especially by retaining professional investment counsel; (b) gained the confidence of its wealthier constituents by using such counsel and other wise business management practices, and (c) created a climate and performance history to attract endowment gifts and grants that would eventually exceed $250 million by 2012.
Many nonprofit organizations pay lip service to such cliches as frugal spending, long-range planning, and wise investment. At Woodberry Forest School, beginning in the mid 1960s, the trustees and administration began to give measurable emphasis to the school's motto: "A posse ad esse" - From potential into fulfillment. Substantial change was evident, both in the academic areas and in the financial management of the school.
Woodberry's administration began to measure and compare its performance statistics with schools of similar student enrollments, size of faculty, endowments, financial aid and operating budgets. These friendly-competitor comparable schools were located primarily in New England, though Woodberry's oldest rival, Episcopal High School in Alexandria, was always in the mix.
Baker Duncan had brought to Woodberry's headmaster position the unique qualities of business experience (in his native Texas), his high-level formal education (from Woodberry, Yale and U. of Texas-Austin), his indomitable personal drive, and a full commitment to Woodberry's leadership among national independent schools.
It was my privilege to be hired by Baker in 1966, and to serve with the Woodberry Forest faculty and administration, as well as to be secretary of its board of trustees, 1967-77. These opportunities provided remarkable experiences for me and constituted a high-point of my career in education. I have attempted to capture some of these experiences in my book, On Scholarship – From An Empty Room at Princeton, which I published in 2008.
Thanks to Baker Duncan, Woodberry Forest was — and still is — a tremendous learning place for hundreds of students, and for many faculty members who come to teach and are open to learn, as well.
Gerald L. Cooper
Above is a photo of former Headmaster, A. Baker Duncan, taken in August 2014 near Boulder, Colorado, where the Duncan family have created a summer camp for young people, operated by the Episcopal Diocese of Southwest Texas, of San Antonio.
The Sweet Briar Dilemma: Will Predatory Lending Take Down More Colleges?
Once you read above, please share your thoughts. Sweet Briar and Woodberry Forest School have at least two things in common: each is located on a huge parcel of land in rural Virginia, and each operated dairy farms that sold products on the open market and were successful for many years.