What Is An Endowment Fund?
An Endowment Fund is a legal and financial agreement which accepts donations
of cash, securities, property, life insurance benefits, trusts, bequests and
other gifts. By the Fund agreement, the principal is never expended. It is a
gift which never stops giving. Our current fund balance is in excess of
$1,500,000. The original fund is now called Section A of the Endowment Fund. All
monies in Section A and all future monies donated to Section A of the Endowment
Fund, will be administered in perpetuity exactly in accordance with the 1981
resolution. The interest and dividends from the Endowment Fund, Section A will
only be used as income in the school budget.
Each year in
October, we present a check from the interest on the School Endowment Fund to a
family that accepts the check on behalf of the school. This year our Endowment
Check was for $107,708.67 Thank you to all of the people and parishioners that
give to our School Endowment Fund. We received $109,617.36 in total donations.
The children of Sacred Hearts School thank you. We couldn't do it without you!
Sacred Hearts School has long been committed to Catholic education. Today, Sacred Hearts is blessed with a fine building, full enrollment and a certified staff. As with other educational institutions, the school is faced with rapidly escalating costs. Projections show that inflation will continue to be our most challenging problem.
If you would be interested in giving a gift to our Endowment Fund, you may contact our Development Office and we will be glad to show you how you can put your investment to good use. Be sure to visit Sacred Hearts School on the web!!
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09/17/2005 12:18