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 2016 Annual Report found the total of these three funds to be in excess of $13 million. With 4% of the earnings from each fund applied to our operational budget annually, nearly $500,000 in earnings was utilized by the School Board for the current year.
In actuality, 11% of the revenue needed to run the school came from one of our endowments. Also, advancement fundraising such as the Golf Outing, Dinner Dance, and Annual Fund Drive brought 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 $1,000 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: