Back to Development

St. Monica Parish School Endowment Fund Facts:

  • The goal is to accumulate funding to a level where it can sustain a significant amount of annual support for St. Monica Parish School through investment income.

  • St. Monica Parish School is one of the most affordable Catholic schools on the eastside; yet there are parishioners who need tuition assistance in order to attend.

  • We must also continue to keep salaries on par with local public schools, keep facilities updated and provide access to new technologies for our children.

  • The successful building of the St. Monica Parish School Endowment Fund is critical to ensure a school that provides an affordable, quality Catholic education to all our children and grandchildren.

St. Monica Parish School Endowment Fund
St. Monica  Parish School set up an Endowment Fund in 1983, as an additional source of income to support the school.  These monies and securities, set aside in an account to generate interest, will ensure the financial future of St. Monica Parish School.  Because the principal has surpassed the original goal of $500,000 the school has been able to use the interest from the Endowment Fund to support the financial needs of the school.  These include keeping tuition affordable, supporting scholarships and maintaining teachers’ salaries.  Individual donations, proceeds from the annual golf tournament, the raffle from the St. Monica Parish School Auction, and designation of funds from the annual Phone-a-Thon all assist in funding the Endowment.

What is an Endowment
An endowment consists of donated funds that have been set aside by a school and invested in order to produce income. Interest income from the endowment fund (principle is never touched) could be used for the following:

  • Develop new educational programs

  • Attract and retain high quality faculty

  • Provide a margin of financial flexibility for school management

  • Provide funds for financial aid and scholarship programs

A strong endowment fund helps to ensure that Catholic education will remain affordable for all families.