ENDOWMENT
Status Goals and Options
Current Endowment Total: |
$5 million |
Overall Endowment Goal: |
$25 million |
Throughout its history, Central Catholic High School has maintained a deep commitment to providing a quality Catholic education to students, regardless of their families’ ability to meet tuition requirements. This type of complete education - spiritual, intellectual, social, and physical - gives students a sound foundation for their future.
In similar fashion, the school’s Endowment Funds provide a sound financial foundation, allowing for the distribution of significant scholarship money, operating support, enhanced faculty and staff resources, and tuition assistance for students in the future.
The endowment fund consists of four components:
Named Scholarships
Currently there are over 60 endowed scholarships at Central Catholic High School . These scholarships have been set up in honor of or in memory of loved ones. A new scholarship is established when the individual fund’s balance reaches or exceeds $25,000 and has earned interest for one year. Only the interest and dividend income from the principal amount is used annually for scholarships - so it is a ‘perpetual’ gift. Historically, the Endowment Board has elected to distribute between 5 – 8% of the endowment’s value based on a three year trailing average of fund performance. On average a $25,000 scholarship will award $500 - $800. The principal amount increases over time through subsequent contributions as well as surplus dividends and income reinvested.
Tuition Assistance
Each year a percentage of the interest income from the principal amount is used to provide tuition assistance to our families. In 2006-2007, 46% of the Central Catholic student body received some form of scholarship money and/or tuition assistance. Tuition assistance grants typically range from $250 to $5,000 - depending on the severity of need. This is an important way to assist our families who are unable to pay the full cost of tuition.
The Legacy Society for Planned Gifts
The Legacy Society Endowment Fund provides a continually growing resource designated specifically to daily operations, thereby ensuring financial stability of Central Catholic well into the future.
Sr. Justitia Endowment Fund
The Sister Justitia Endowment Fund was created in 2002, inspired by English teacher, Sister Justitia, who positively shaped many young lives at Central Catholic from 1939 to 1959. When the fund reaches $50,000 it will provide additional resources for faculty and staff to continue their education through professional association memberships, conferences, and seminars. Currently, the fund stands at more than $48,000. |
