The goal of the Advancement Board, pure and simple, is to provide for the long-term financial needs of our school. Since 1989, members of this group have worked closely with school and parish leaders to create three endowments: Tuition Assistance, Teachers', and Capital Improvement. Our 2020 Annual Report, which can be found on our website, found the total of these three funds to be in excess of $15 million. With 4% of the earnings from each fund applied to our school's operational budget annually, more than $625,000 in earnings were utilized by the School Board for the 2020-21 year.
In actuality, 18% of the revenue needed to run the school came from the Teachers', Capital Improvement, or Tuition Assistance endowments. Also, advancement fundraising such as the Golf Outing, Memorial Giving, Annual Fund Drive, and General Donations accounted for an additional 4% of revenue.
The net result of these policies is that tuition increases are kept at a minimum and no programs or services are negatively impacted. To date, over $5.4 million have been applied to upgrading facilities, providing financial aid to needy families, and retaining our faculty by supplementing their diocesan-set salaries.
Contributions from earnings on our endowments, as well as the parent donations to the Annual Fund Drive, last year alone saved each school family more than $1,900 in tuition.
The Advancement Board meets at 7:00 p.m. on the third Thursday of each month except in July and December. This year’s Board consists of:
Craig Bennett– President
Joe Scheffler - Vice-President
Bill Feind - Treasurer
Alan Panozzo - Secretary