President's Report, IYRS Annual Meeting, July 12, 2008

Presented by Terry Nathan, President, IYRS and MOY


As you know, the theme for tonight’s annual gala is "A New Launch." There were a few of them since last year at this time: the convergence between IYRS and MOY; the start of the mill restoration; a new program in marine systems. This year has felt more like being catapulted, with some very wicked whiplash. It’s been very exhilarating.

I think by far and away, and most interesting to me, is how the underlying infrastructure and the web of relationships have evolved. I’m referring firstly to the Board and staff, rippling out to the core constituent support groups and our neighborhood, local community, the State, and beyond. And I would say, without hesitation, that this layering of engagements is purposefully occurring by way of the work being done by many of you and daily by Clark Poston with our industry partners, Susan Daly, again with industry, with foundation and State development, and by James Russell in fund-raising. That has been and continues to be our model for progress and success.

It is a testament to these past four years that we have built an extraordinary Board of thinkers and doers that have put aside ego and in some cases preference in order to promote healthy collaboration and consensus. The benefits are measurable.

Here I am sharing the obvious; but because the execution can and frankly does go haywire sometimes, it’s useful to remind ourselves of how we got here. Right now, I’m really up here to thank you. It’s one thing to say that you surround yourself with people capable of giving you intellect and capacity that frankly I don’t have.  It is quite another to achieve real value and ongoing benefit for the school and museum.  We are indeed successfully doing just that. Now, here is some of what all of us got done since last year at this time:

  • We launched a new program in marine systems; no small feat for an institution that has no history of developing new products;
  • We got the program accredited to ensure that its students would be eligible for federal aid and would have a certificate of credibility;
  • We successfully met the accrediting bureaus requirements and audit for renewal of accreditations for the restoration and boat building program;
  • We were a central facilitator in securing over $300,000 in State funding for programs related to workforce development and promoting the marine trades  as a career;
  • We merged IYRS and MOY, a two year process that overcame decades of history;
  • As a metric of donor support, we raised a record $630,000 at last year’s gala—the largest in Newport’s history;
  • In short order, we upgraded all facilities—both at IYRS and MOY—to current safety and haz mat standards and to meet new EPA compliance;
  • We launched the restoration of the mill building after years of planning and fund-raising; it is no longer merely a vision;
  • We spent countless hours lobbying to help successfully save the State tax credits for the mill project; though we ended up losing the equivalent value of about $400,000, it could have been at lot worse;
  • We balanced the operating budget at IYRS for the third consecutive year;
  • We were granted our first major federal appropriation of $500,000 for the mill project; that will pay for 3 weeks of construction cost;
  • We successfully met our goal of opening the museum with substantially upgraded facilities and three new exhibits, including a funded new build of the 6-metre Cherokee;
  • As of two weeks ago, thanks in great part to the work of Lydia Bergeron, our VP of Finance & GM, with important guidance from Treasurer Harry Rein, we received the first of our tax credit equity--$1.1mm from Chevron;
  • Staying on the mill financing front, just last week Ed Kane, one of the very first donors to the mill project, offered a new challenge: he would accelerate the balance of his five year gift and deliver the remaining $150,000 by October, if an additional $300,000 was raised by then;
  • And finally, believe it or not, McNeil’s boys arrived this week, and logistics are finally underway to commence with the next phase of Coronet’s restoration—the next juggling act for our very active campus.

 

As I said at the top, a little whiplash.  Can we acknowledge and applaud the work of all and of this management team: Susan Daly, Clark Poston, James Russell, and Lydia Bergeron?

The current five-year strategic plan is within sight of general achievement.  By early 2009, the mill will even more profoundly impact IYRS and especially its finances.  Though much of the lease income will go to paying our construction loan, we also hope to begin turning attention to long-term sustainability through endowment building.  We are, of course, hopeful that the economy cooperates.

On a mission basis:

  • A modern day rejuvenation of the Newport working waterfront will materialize—with marine-based enterprises returning by way of the IYRS campus;
  • The museum will have an in-town depot, inviting more visitors onto campus and over to the museum;
  • With the consolidation of the IYRS and MOY libraries, and the expert assistance of the Redwood Library, a new research center will be open to both students and the public;

 

These achievements will materialize during the first quarter of 2009.  We are very close now. But there is still plenty more to do. There is an endowment and more school programming to build.  And there is finding growth and a sustainable future for MOY.

Despite meeting important early milestones with the museum, including facilities improvements, full operating integration with IYRS, and new exhibits that are more interpretive and engaging, we should have no inhibitions about taking the discussion of the museum’s future into the public domain. The museum is not on solid ground either financially or with respect to interpretation of its mission.  In the next issue of Restoration Quarterly, we will publish a round table discussion about possible directions for the museum.  The participants will include Maynard Bray, Wooden Boat founder Jon Wilson, Louie Howland, Gary Jobson, and Bob McNeil.  What is the long-term, sustainable identity of the museum?  Should its mission morph?  Where is its place in the local and broader communities?  I think that this is a healthy discussion that should be transparent, and I view my role as that of a facilitator—ensuring our good model for progress is alive and engaging.

We should be inspired by the challenge the museum represents and the logic of the convergence with IYRS.  There is nothing new about the model of a school and a museum being part of the same enterprise—especially when their missions so overlap.  They enrich the educational experience of both students and the general public.  I am inspired by the support, the words and deeds of people like Jimmy Gubelmann, Ed Kane, Dooie, John Mecray, Ted Graves, Terry McClinch, Clay Deutsch, James Russell, Chuck Holland, Peter Denton, Jill Radal, and Jay Picotte.

But there is no mistaking the work ahead and the transformation required to rise above the museum’s legacy and spasms of acrimony.  Look no further than the museum volunteers for inspiration and leadership.  Without their 3500 hours of work during the off-season, the doors would not have opened with new exhibits, fresh paint and in compliance with EPA and public gathering standards.

The challenge beyond our first year is finding relevance in order to broaden support.  We must reach out beyond the loyal core and into the community and beyond.  Whereas IYRS is a career school, the museum must educate at the grassroots and community levels.  As a byproduct, perhaps a few will be future shipwrights or marine technicians, and thus providing another recruiting channel for IYRS.  But most will be aware of their connection to a living part of our history and more aware of the importance of preserving it.

New trustee Peter Denton, has donated funds to begin reaching out to community youth, and under the co-direction of trustee Chuck Holland and our curator Jay Picotte, we are already reaching out on Aquidneck Island.  We have a unique opportunity to create an even broader presence and more value in Newport and the maritime field.

I think you will agree that we have the capacity, the track record, and the collaborative values to not only produce a good road map but get the job done. 

In closing, we’ll execute, but we need your help: please stay active; stay engaged; keep introducing new people to both IYRS and MOY and their respective missions; please stay committed to our process as this is very important; and I make no apologies in asking you to help us raise the $500,000 we need by year-end to complete the mill and move onto the next five-year plan for IYRS and MOY.

Remember the not so secret sauce: we are about education and preservation before all else.  We are a school, preserving a craft and the associated values, preparing trades people for rewarding careers, and secondly, we are a cultural center that both engages and presents our history.  The clarity is wonderful, and both our industry partners and a great many of our supporters are applauding it.

Thank you.