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St. Joseph School Foundation continues its mission of supporting St. Joseph School. The Foundation contributed $60,000 in school year 2009-2010. The commitment by the Foundation for school year 2010-2011 is $45,000. This year’ gift amounts to $232 per student, money which would have to come from other sources if the Foundation were not in existence. After much debate at the annual meeting in September, the Board of Directors voted to give $45,000 for school year 2011-2012. The Board regrets the cutback, but the decision was made to maintain the financial integrity of the Foundation. The guidance provided by our Articles of Incorporation and the By-Laws designates that our annual gift be based upon income from our investments.
The fixed income yields are down drastically from around 8% in earlier years to no more to than 2% presently. Most of our monies must be invested in guaranteed government instruments. The dividends from our mutual funds are steady, but they are also down from the levels of previous years. We continue to have many generous donors, but the amount of donations is also down.
The bottom line is that in order for the Foundation to continue to give at the levels at which we are presently supporting the school we must broaden our base (more donations), increase the yield on our investments (not likely in the present economic environment), or conduct fund raisers. When our yield is cut in half, we must double our base just to stay even. The Foundation has grown to around to approximately $1.2 million dollars in 24 years, while at the same time period we have given over $500,000 to the school. It is not likely that we can move from our present level to two million dollars in a short time.
The beauty of the Foundation is its perpetual status. The Foundation is designed to continue forever. If the base is maintained, we can perpetually donate a portion of the income to the school. The larger that the base is, the more income we will earn, and the more that can be donated to the school. Gifting to the school is not just a function of how much money is in the base; it is also a function of the earnings. Hopefully, the earnings will improve as the economy improves.
There are many ways that a person can support the Foundation. Donations of money in any amount are always welcome. Leaving stocks, bonds, mutual funds, and real property to the Foundation is another means of donation that may fit into your financial plan. The Foundation also sends memorial cards to families of deceased persons and in honor cards to persons recognized by our donors. After many years of planning and development, the Foundation has been named in several wills. This past year a long time donor named us in her will. That bequeath is the largest single donation in the history of the Foundation.
Several years ago, the Foundation had about 15 persons who of whom donated $1000 each year to the Foundation. Now, that number is down to only four or five persons. The Foundation needs more donors to step forward in 2011.
The Foundation turns twenty-five years old in December 2011! There must be a celebration of our past accomplishments! We must renew and revitalize the growth! Watch for the details of our celebration which will most likely occur at the end of Catholic School’s Week in January of 2012.
The Foundation is blessed by the financial support of its donors and its volunteers who work for the benefit of Catholic education. May God bless each one of you! Without our generous donors, there would be no St. Joseph School Foundation. Please continue to pray for the success of the Foundation.
Carolyn Eck
SJS Foundation President
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