St. Francis of Assisi Catholic School
Educational Trust Fund ~ History
In 1987, St. Francis Parish established the Educational Trust Fund to help ensure the future of St. Francis School by providing it long-term financial assistance. During a wide spread appeal, hundreds of donors demonstrated their belief in Catholic education by contributing generously to the newly created endowment. Because of their philanthropic spirit, the Educational Trust Fund exists today.
In 2002, the Trustees of the Fund agreed to organize a benefit to renew giving to the Trust. Since then, the annual event has grown both in attendance and net proceeds, generating more than $266,000 for the Fund.
In addition to the benefit, many donors utilize the Trust Fund as an opportunity to recognize
family, friends and special occasions by contributing a gift in memory or in honor of someone or sometime. Since 2002, those contributions have generated more than $38,000 for the Fund.
Furthermore, the Trust Fund periodically receives written notification of planned gifts. One such letter arrived in 2006; it included a planned gift valued in the amount of $397,000 at the date of the letter.
Over the years and because of hundreds of thoughtful gestures, the corpus of the Educational Trust Fund has steadily increased to a balance of $1,096,098 at the end of the calendar year 2007. The corpus of the Fund is invested, and interest is then generated. Each year, a percentage of the interest is deposited in the school's operating budget to assist with a variety of operating expenses. In the 2007-2008 school year, the award totaled $43,000. It will increase to $48,000 in the 2008-2009 school year. Gone are the days when religious sisters provide teachers and staff at a minimal expense. Now, each year, the cost of a quality, Catholic education continues to rise. Tuition increases create concern that it will become too expensive for average or lower income families. Thankfully, because of the foresight of St. Francis parishioners nearly twenty years ago, the Educational Trust Fund exists today to help meet the needs of students while ensuring reasonable tuition.
On behalf of the Trustees and the school children that benefit from the support of the Trust Fund each year, thanks to each of you who remembered the Fund through your prayers, your financial generosity and/or your volunteer efforts along the way.
