The annual financial report showed that the school reached a new record of $10.3 million in annual giving and broke even on its overall budget. Additionally, the school expanded on the financial aid budget, which is now $16 million, as well as faculty compensation. River Park is also 85% funded and is on track to open Fall of 2026.
School President Rick Commons said the most important takeaway from the financial report is that the school covered all its costs.
“We broke even, which is always important for a nonprofit,” Commons said. “You don’t want to run a deficit because that means that you’re impacting the future. You also don’t wanna run a significant surplus because it means you’re not using the resources that are provided by tuition and other sources of revenue to serve what current students need. ”
Commons said the record breaking number of funds raised helped the school give back to students and employees.
“It’s important that we had Annual Giving at a new record, which is once again the largest dollar amount raised by any independent day school in the United States,” Commons said. “The Annual Givings is a really important tailwind for us, particularly with regard to how we compensate employees and how we provide financial aid for students.A big takeaway there was that we had voluntary support beyond tuition that was well over $10 million. It accounts for more than 10% of our budget for beneficial compensation for our employees and financial aid for students.”
Chief Financial Officer David Weil ’93 said the school continues to allocate funding where it is most needed to support various programs.
“We continue to be very diligent in our use of financial resources, directing funds toward where they are most impactful,” Weil said. “In our case, that means support for students, employees, campus upkeep and our academic, artistic and athletic programs. The vast majority of every budgeted dollar gets applied to these mission-centric purposes and helps to ensure the school’s needs are well-served for years to come.”
Commons said River Park is almost completely funded through capital gifts.
“River Park is funded separately through capital gifts that are not part of tuition,” Commons said. “It’s really important that tuition dollars are not going to River Park. They’re going to [the students’] education and experience, not to building the new facility. The new facility is being built entirely with separate gifts, and those gifts are now at about 85% of the total cost of the project, which is getting us close to completion on funding.”
Kyle Henderson ’27, a student on financial aid, said this aid has helped him participate in school activities without putting financial pressure on his family.
“ I’m so blessed to have been given financial aid to attend Harvard-Westlake, and I think they’re just so kind for doing this,” Henderson said. “It’s benefited me in many ways. From being able to get a calculator without spending $160 to being able to go to a homecoming without it being a financial stress on my mom, [financial aid] is very alleviating.”
