LeRoy Zimmerman editorial
Wednesday, November 10, 2010
Posted by: Duane Craven
Hershey School did it for the kids
By LeRoy S. Zimmerman
In recent weeks, some in the media have criticized property purchases approved by the board of the Milton Hershey School and Hershey Trust Co. They can second-guess the tough choices we've made, but there can be no fair-minded questioning of our intentions. We have always acted with integrity and a commitment to Milton and Catherine Hershey's deed of trust, which established the school to provide a cost-free home and school to children in need.
Four years ago, the Hershey Trust's board purchased a golf-course property known as Wren Dale. Some have wrongly suggested it did so to bail out wealthy friends. In fact, we purchased the property because we believed we needed it to support a plan, announced two years earlier, to expand the school's North Campus. This was one of 17 property purchases made as part of that careful plan to dramatically increase the number of children we serve.
The Hersheys' deed of trust clearly gives board members the ability to "purchase any additional land adjoining the School property, or conveniently near to it ... if they consider such land necessary or convenient for the purposes of the School."
The land surrounding the North Campus was of great interest to developers, and we wanted to ensure that we acquired it for the school's use - today and tomorrow - before we lost our chance to do so forever. Our real estate professionals determined the appropriate market price, and no other factors were considered.
The Pennsylvania Attorney General's Office recently announced that it's looking into this matter. The attorney general is responsible for oversight of charitable organizations such as ours, and it's exercising that important responsibility with appropriate rigor. In addition to filing comprehensive annual reports, we will continue to cooperate fully with the Attorney General's Office. We are always looking for ways to improve, and we are open to making changes as a result of this review.
Here are some other facts that the attorney general's staff might come across:
Our plan to expand the campus was well researched and developed. The school and trust engaged Bowie Gridley Architects, a Washington firm with extensive credentials, along with other consultants, to develop a detailed, comprehensive plan that would allow the school to eventually serve 2,500 to 3,000 students. The plan recommended that the school continue to acquire land surrounding its current holdings.
Over the past several years, we have reached the highest enrollments in the school's 101-year history, growing from 1,250 students to 1,800. What's more, we have put infrastructure in place that will enable us to grow further.
Milton Hershey gave the school land and a generous endowment to fund it in perpetuity. All of our decisions are made with that concept of perpetuity in mind. Through a carefully managed, diverse portfolio that includes real estate investments, we have protected the school's assets even in this challenging economy, while many other large and prominent endowments have struggled.
During this board's tenure, the Hershey School has been focused on the mission the Hersheys intended. We are serving more students, renewing our focus on career and technical education, and ensuring that our students are positioned for a successful future.
There is an untold story here. It is the story of an expanding home and school serving its students well and poised for decades of success, growth, and fulfilling our founders' mission.
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