SALEM ACADEMY AND COLLEGE

ANNUAL REPORT 2021–2022

 A Year of Growth and Transformation
ACADEMY
Salem Academy and College is
experiencing an exciting time of
evolution and growth. During the
last two years, Salem has embraced
Ranked #1
Private
unprecedented change across all
areas of the campus. Reopening the
High School
campus after 18 months of virtual-only in Triad Area
instruction, Salem brought its campus [Niche.com]
and its community back to life in
exciting and new ways.
 
Salem College doubled the size of
its incoming class for fall 2022. The
Ranked #7
Private High School
College has launched new campus-
wide events such as our annual Health
in North Carolina
[Niche.com]
Leadership Forum, started new
academic and co-curricular programs,
and brought new leaders to our campus. Salem Academy enrollment also has grown
for the first time in years. The Academy has integrated STEAM into its curriculum,
developed a renewed focus on student wellness and mental health, and invigorated its co-
curricular leadership programming. 
  COLLEGE
In our 250th year, the Salem Academy and College community proudly reflected on its
rich history while boldly looking toward its future goals and opportunities. As we turn
our eyes toward the next 250 years for Salem, the opportunities are endless, and the Ranked #1
possibilities are powerful. Our optimism for the future is due to the remarkable work of All National
and dedication of our current and past Board of Trustees, faculty and staff, alumnae and
Liberal Arts Colleges
students who have made Salem the vibrant, healthy and engaged community it is today. 
for Social Mobility
 
[US News and World Report]
I am very proud to say that Salem Academy and College finds itself healthier and stronger
than it has been in years. Our success is owed in large measure to the generosity and
support of the extended Salem Academy and College family—of which you are a part.

Ranked #2
We share this report with you and invite you to celebrate with us the successes of Salem
Academy and College. We hope that you will share in our pride over what Salem has
accomplished in the last two years as we continue to dedicate ourselves to student success National Liberal
and to being an institution on the rise.   Arts College
in North Carolina
Yours truly, [US News and World Report]

Summer Johnson McGee, Ph.D., CPH

President
Top 125
National Liberal Arts
Colleges in
the United States
[US News and World Report]

A YEAR OF GROWTH AND TRANSFORMATION

 Enrollment
CAMPUS
ENHANCEMENTS ACADEMY ENROLLMENT

10% increase
Six Academy classrooms in 58% increase in the size of
the Fine Arts Center have in Academy admissions yield the student body
become a humanities hub.

Students from 10 states and 5 countries

The Academy received
experimental, ergonomic
classroom furnishings through a Austria Hungary
partnership with VS America.
Dominica Ukraine

Germany
Gramley Library’s
ground floor was updated to
include access services, circulation
desk and open-concept study Restored Academy admissions travel domestically and overseas,
spaces. All academic support
to expand to new markets nationally and internationally,
services were moved to be
specifically in Southeast Asia and Europe
together on the first floor.

COLLEGE ENROLLMENT
The College installed innovative
furnishings for interactive learning
in three pilot classrooms in Main
Hall, the Rondthaler Science
Most applications in The size of the new student class
Building and the Fine Arts Center. College history doubled over fall 2021
(More than 1,300)

Average High School GPA is

The Welcome Center 26% of students 3.8

admissions reception rooms are the first in their families
in the Single Sisters House to attend college
were refreshed with new 58%
technology and decor. are eligible for a Pell Grant
19 students (federal financial aid)
in the new cohort of Salem
Scholars, full-tuition scholarships
The lobby of Clewell Hall and special opportunities for 49%
(College first-year residence hall) aspiring health leaders are students of color
was fully redecorated, and the
kitchen was upgraded.
Undergraduate and graduate students from 21 states and 6 countries

The Mercantile, a new

campus store, opened in Colombia Peru
the Single Sisters House.
India Sweden

Mexico Tanzania

3
 Financial Strength
Our institution is financially healthy and poised to create new FINANCIAL SCORES –
programs and initiatives that align with our strategic plan. COMPOSITE FINANCIAL INDEX (CFI)
Financial support from loyal donors and pandemic relief funds
have contributed to the strongest balance sheet Salem has had in
many years. There has been an operating surplus each of the past
three years.

The endowment and perpetual trusts have been stable over the
past 10 years, reaching the highest historic market values in 2021.
Distributions for student financial aid, general operations and
faculty development contributed over $4 million to the operating 8.06 4.82 5.26
budget in 2022. 2.91 3.5

2020 2021 2022 3-Year Minimum

Average Advisable

FINANCIAL RESERVES NET CASH PROVIDED BY

OPERATING ACTIVITIES
Primary Reserve Ratio
Quantifies how long an institution could operate if revenue was An operational measure focused on cash.
no longer received.
$1,216,721
$1,300,000

$879,529
$975,000
$758,574
$663,291
$650,000

1.92
$325,000

.89 1.16 1.32

0.40
$0
2020 2021 2022 3-Year Minimum 2020 2021 2022 3-Year
Average Advisable Average

Salem is prepared to meet unexpected challenges, thanks to its
cash position. The primary reserve ratio (above) measures these
reserves. All institutions were faced with unexpected challenges
in March 2020 with the COVID-19 pandemic. Institutions with
financial reserves are better prepared to manage the unexpected.
The minimum advisable primary reserve equates to a five-month
reserve. Salem’s primary reserve in 2022 significantly exceeds the
minimum at 14 months.
Net cash provided by operating activities has been positive over
the past three years. Replacing federal relief funding with student
driven revenues, including auxiliary enterprises, is a key strategy to
maintain positive net cash from operating activities.
As indicated by the CFI score, now is the time to invest resources
for a sustainable future. This is what is intended through Salem’s
new strategic plan and campus master planning work currently
underway.

A YEAR OF GROWTH AND TRANSFORMATION

DEFERRED MAINTENANCE SOURCES OF OPERATING FUNDS 2022

Age of Facilities Ratio

2%

17% 17%

31.64
11% 10%
28.69 26.97
16.15 14
43%

2020 2021 2022 Moody’s Advisable

Median - less than

Tuition and Fees (Minus Financial Aid) $4,228,926

Room and Board (Auxiliary Enterprises) $2,613,026
One of the challenges for a 250-year-old institution is
Contributions $10,862,407
maintaining our beautiful historic campus. Age of facilities
Government Funds $2,932,936
ratio indicates our campus’s current status with deferred
Endowment and Trust Distributions $4,281,157
maintenance. Since 2021, additional investments have
Other Income $580,812
been made to improve campus facilities and that work will
continue in the coming years. Renovation projects are under
TOTAL $25,499,264
development by a team of architects and engineers to rebuild
the campus technology and network, improve accessibility in
historic buildings and other critical infrastructure investments.

ENDOWMENT DISTRIBUTIONS 2022 USES OF OPERATING FUNDS 2022

2% 13% 12%
20%
10%
60%
31% 10%
15%

27%

Scholarships & Student Awards $2,353,294

Faculty Development $587,200
Departmental Projects $381,074 Instruction $4,334,858
Campus Facilities $76,950 Academic Support $2,164,941
General Operations $536,341 Student Services $5,998,358
Facilities & Administration $6,677,746
TOTAL 3,934,859 Auxiliary Enterprises $2,529,646
Approved distribution rates based on market averages =
7% for 2022 and 5% for 2023 TOTAL $21,705,549

5
 Revenue Stream Growth – Fundraising
Salem is grateful to the 3,758 donors who gave to support students, faculty,
programs and facilities in FY21 and FY22.

GROUNDBREAKING GIFTS

$3.6 MILLION TOP 7 Corporate and Foundation Donors

Gift from Gretchen Wampler Welch C’66 Estate Lettie Pate Whitehead Foundation
The gift is unrestricted for Salem College’s use for strategic The Cannon Foundation
investments including student scholarships and campus The Armfield Foundation
improvements. The George Foundation
Flow Motors
“I contribute to Salem Academy and College
Salemtowne Retirement Community
because I am passionate about its mission to
First Citizens Bank
provide an excellent education to girls and
women. I believe it is institutions like ours that
will develop the leaders of the future.” $5 MILLION Health Leadership Gift
This historic, anonymous gift has had had a transformative
– Anonymous donor pledge of $2.5 MILLION in celebration
impact:
of Salem’s 250th
• Salem Scholars program offers full-tuition scholarships
250th Anniversary Scholarship Fund: $666,690 to 20 high-achieving students interested in health fields
There were two lead gifts from College alumnae who are also • 10 new faculty and staff
sisters. Faye Lee Lampe C’53 made her generous gift to the • Annual Health Leadership Forum
College’s 250th Scholarship Fund giving where she felt her gift • Health Leader in Residence position
would make the greatest impact on Salem students. Ella Ann • RISE Leadership Development Program
Lee Holding C’56 said she made her 250th Anniversary gift “to
• Health Leadership multi-purpose laboratory
encourage every Salem alumna to make a transformative gift and
• Study Abroad/Away programming
to make Salem a priority in this special year.”

A YEAR OF GROWTH AND TRANSFORMATION

 250th Anniversary Campaign

GOAL: $12.5 Million | ACHIEVEMENT: $15.5 Million

ACADEMY FUNDRAISING TOTALS COLLEGE FUNDRAISING TOTALS

$1,600,000 $9,000,000

$634,124
$8,000,000
$1,400,000 $34,817 $372,108

$7,000,000
$5,000
$1,200,000

$6,000,000
$735,752

$1,000,000
$5,000,000
$768,789 $41,780 $5,639,365
$255,000

$4,000,000
$800,000
$215,542
$2,211,038
$3,000,000

$400,000

$241,374 $2,000,000 $223,683 $169,850

$200,000 $505,898
$1,000,000
$1,982,213 $2,069,954
$207,668

$0 $0

Total Gifts FY21 Total Gifts FY22 Total Gifts FY21 Total Gifts FY22

$1,222,831 $1,492,009 $4,713,714 $8,885,401

College Restricted Current Use

Academy Endowment College Endowment

Academy Fund Unrestricted Current Use College Fund Unrestricted Current Use

Academy Restricted Current Use 250th Anniversary College Scholarship

250th Anniversary Academy Scholarship 250th Anniversary Other Support

7
 Salem Academy Transformation – STEAM 
Salem Academy’s mission statement guides the way it supports,
encourages and mentors the next generation of female leaders.

Mission Statement: Educating girls

since 1772, Salem Academy fosters
compassionate and creative leaders,
prepared for college and life, who chart
their path with character, curiosity and
courage.
 
With an intentional focus on STEAM, the Academy has
transformed its students’ education through the holistic
integration of academic and co-curricular experiences.

A YEAR OF GROWTH AND TRANSFORMATION

 LEARNING
IGNITING INCREASING
CURIOSITY COMPASSION Addressing the changing landscape of
adolescent needs, a 7-day rotating schedule
E
V AT NS AN provides more flexibility for students and faculty offering:
I
T TIO ID
S • A variety of class period lengths, with AP

AL EAS
QU UL
E

YZ
C

and advanced classes having more time

E
• Built-in time for College classes, daily study halls,
community service and club activities
CHARACTER
• Wellness opportunities
CO

• Common office hours

F O MU

ER
M

• A later start time to the school day

ST

O N
NS
SI
G
NI (backed by research on adolescent learning)
TY DE UTI
L
SO
INSPIRING INFUSING
COURAGE CREATIVITY
WELLNESS

The mental health challenges of today’s

TRANSFORMATION
During Innovation Days, students practice
the courage to experience new opportunities,
working with professionals in STEAM fields
through a variety of special activities.
adolescents are at an all-time high.
The Academy has created a
wellness program to assist students
with personal struggles, learning to re-engage
with the in-person world, and use their
challenges to strengthen how they lead others.

Partners include:
ChristianaCare Gene Editing Institute, WSMiXXer
Makerspace, ArtAboutNC, The Robot Dreams,
OUTCOMES
Triad Voice, Ember Studios, Collins Aerospace
The many incredible institutions that
welcome Academy graduates include:
Students curious to explore future career
options can take classes at Salem College
or can create their own semester-long
internship or independent study.

80% students can

take one or more graduate with
college classes 36–45 college
credit hours

Students have hands-on experiences giving

back to the community. This includes designing
and leading their own compassion
projects with local non-profit organizations,

including:
Love Out Loud, Kaleideum

9
 Salem College Transformation – Health Leadership
Salem College provides a liberal arts education with a distinctive
focus on health across the curriculum and co-curriculum,
preparing students for a range of career paths and graduate
programs. Salem’s graduates understand the power, importance
and complexity of health in our society. Through intentional
leadership development and engagement in building healthy
communities locally and globally, students are prepared
to make the world a better, healthier and
more equitable place.

As part of this transformation, Salem has built new academic

programs, sharpened the focus of existing programs and
expanded student opportunities for internships, study abroad,
graduate programs and more.

A YEAR OF GROWTH AND TRANSFORMATION

 NEW ACADEMIC PROGRAMS NEW HEALTH LEADERSHIP FACULTY AND STAFF

Bachelor of Science in Health Sciences

Bachelor of Arts in Health Humanities
Bachelor of Arts in Health Communication
Bachelor of Arts in Health Advocacy
Bachelor of Science in Public Health
Master of Healthcare Administration
Jason Robertson Dale Sanders Christian Simon
Concentration and Minor in Art Therapy Associate Professor Professor of Health Associate Professor
Minor in Nutrition of Public Health Administration of Bioethics
and Business
Administration

A revised general education curriculum

that maintains our commitment to the
liberal arts while embedding leadership
and health in its learning outcomes.

Emily Smith Charlotte Vail

Director – Internships Assistant Professor
More than 75 new courses and Pre-Professional of Leadership
Advising and Leadership
with a focus on Health Leadership
Program Director

Leadership at Salem College: Examples of graduate school

Faculty and student affairs staff are building acceptances for the Class of 2022
a comprehensive approach to leadership at
Salem. When completed, it will include co-
curricular and curricular components, and lead
to a certification for the most involved students.

The College’s approach to leadership is based

on a simple assumption: that health is the basis of
leadership. Therefore, Salem is piloting leadership
programming in the 22–23 academic year
that explores how health and wellness prepare
students to lead on campus and in the world.

Sample internship partners for the Class of 2022

Pathways to Graduate Programs:
New pathways to graduate school include
partnerships in business, law, occupational therapy,
physical therapy and the health sciences.

United Way of Forsyth County

11
 601 S Church Street
Winston Salem, NC 27101

RISE TOGETHER STRATEGIC PLAN

The RISE TOGETHER strategic plan was developed over a six

month period of community engagement and strategic visioning
with the overarching goal of ensuring financial strength through
sustained enrollment growth at Salem Academy and College.

TOG E T H E R
To learn more about the RISE TOGETHER
strategic plan scan the QR code or visit
strategicplan.salem.edu.

Athletics
#1 Turnaround in USA South
Salem College Volleyball had the largest season
turnaround in program and league history—going
from one win last year to 21 wins in 2022.

The number of College student athletes

Seven swimmers qualified for
the state championship meet
Both Robotics teams competed
in the state championship
A fencing athlete is
nationally ranked
in her home country (Hungary)
increased by 40% in fall 2022.
DID YOU KNOW? Spirits 2022 Athletics Stats
Soccer 6-10-22 (2-5-2 USA South)
Rookie of the Year – Darilyn Nieto (Soccer)
All-Sportsmanship Team – Alyson Gammons (Soccer)
Volleyball 21-10 (12-6 USA South)
Coach of the Year – Barry Rymer (Volleyball)
Second Team All-Conference – Aspen Bradley (Volleyball)
Honorable Mention All-Conference – Valeria Rosa Lopez (Volleyball)
All-Sportsmanship Team – Ashlyn Wood (Volleyball)