<p>^mountainhiker - what do you do with a school’s debt, e.g. PAA’s roughly $100mm and announced plans to issue another 40 in the coming months? Or pledges receivable? How about CPI hedged deferred gifts from donors under the age of 70, such that the amounts are excluded under CASE gudelines? Do you adjust the endowment values for that? Should I care?</p>
<p>Let’s move from the balance sheet to the income statement. How about schools with l operating surplusses, i.e. (Undiscounted Tuition+Endowment Draw+Annual Fund)-(Total Operating Expenses+FA expense)>$0. Maybe we need a Tuition Value ROI! Should I care?</p>
<p>How about attrition - or better said, retention? How many 9th grade matriculants graduate? Or how many alumni graduate from the college to which they first matriculated? Should I care? </p>
<p>What about the # of Vi neyard Vines ties worn at commencement, or the number of Bread not Bombs stickers on the Volvo wagons at Parents Weekend? Or the number of sophomore/Form whatever Insta picks from the Whitsundays over Spring Break? Should I care?</p>
<p>Should I?</p>