January 2026 Financial updates provided by Janeya from EdTec:

* Enrollment: About 37 FTEs below budget for enrollment. As a result, operating income expected to be under budget for the full year.

* Budget vs. Actuals: YTD Net Income variance is positive, ahead on revenue and behind on expenses.

* Also reviewed budget vs forecast for full year, YTD balance sheet and cash flow projections.

Graham shared that the Finance Committee approved FP's 990 form.

• Spring Fundraiser event at the Museum of the Moving Image.
  • First time having this type of large fundraising event.
  • Event capacity of 250 people.
  • Ticket includes full access to museum.
  • Screening of documentary film that tells Forte Prep's story, followed by brief Q&A/conversation.
• Role of board members.
  • As attendees: Attend and bring guests who could become future donors or advocates.
  • As ambassadors: Invite people in your network.
  • As sponsors: Purchase sponsorship package. Consider sponsorship options.

* First Little Mermaid production!

* Wax museum event to celebrate Black History Month.

* 2nd Annual Lunar Year parade with costumes and drums and procession along Broadway.

* Also took students to see the construction of the new site. They learned a lot and got inspired!

• Enrollment efforts on target.
• Hiring in motion.
  • New staff member focused on HR & Talent Manager has started.
  • The 2026-27 hiring cycle has begun.
• Progress with facilities is ongoing.
  • FDNY inspection coming soon - huge milestone!