Director Jueds addresses fiscal shortfall, reassures financial stability


Screenshot from Webinar

Director Tori Jueds speaks at a webinar on Jan. 25, reassuring listeners about Lab’s financial shortfall this year.

Chloe Alexander, Assistant Editor

Laboratory Schools Director Tori Jueds reassured attendees of a Jan. 25 community webinar that Lab’s finances are stable. She reviewed the financial health of Lab: its business model, sources of revenue, use of resources and a financial look-ahead.

“Fundamentally, we are sound. The Laboratory Schools will be here for another 126 years and then some,” Ms. Jueds said. “We have an incredibly compelling program, we have strong reputation, we have a wonderful relationship with the university.”

Although Lab is expected to earn about $86.9 million this fiscal year, mainly from tuition, its expenses exceed that at $90 million. 

Lab also earns revenue from auxiliary services such as Summer Lab, philanthropy and an endowment from the University of Chicago. 

Additionally, the administration is working to broaden its need-based financial aid with the hopes of becoming need-blind and providing financial support beyond tuition to include books and school trips.

“Ultimately, we want to be in a place where we are need-blind,” Ms. Jueds said. “That’s a term of our admissions that refers to the fact that a school has such resources in this regard, that any family regardless of circumstances can come, and we will never run out of financial aid.”