In addition to pictures which chronicle some of the important events of the 2019-20 school year, there is an article from Craig Bennett, Advancement Board President, highlighting the significant accomplishments of all of four of our school’s Leadership Boards this past year despite a variety of unforeseen challenges which the school faced.
Most importantly, there is an optimistic letter from new school Principal, Tricia Weis ’83, both introducing herself to the school community as well as laying out her vision for her alma mater.
Be sure to spend time on the Financial Summary page. Although tuition for one child is $5,133, the pie chart on the top of the page shows that the real cost of educating each child would be $8,583 without significant parish investment, our endowment earnings, and fund raising, all of which supplement tuition rates.
When viewing our endowment balances as of June 30, 2020, look at those numbers with pride and say a prayer of thanksgiving to all of the men and women who served on our Advancement Board since 1989. Their policies and investment strategies have ensured that our school annually has a steady source of revenue from our three endowments.
One cannot, however, look at the endowment balances in isolation.
The most important chart of all is on the bottom of the page which shows how much of the earnings are applied to the school’s budget each year. Per Diocesan guidelines and prudent endowment practices, SSPP may only withdraw 4% of the rolling balance on the total endowment each year.
In the past five years alone, from the 2016-17 school term and through the current year, this translated into $2,709,680 in earnings going directly to the school's operational budget, an average of $541,936 each year. There is no other school in our Diocese that has enjoyed that kind of success.
Upon further analysis, you can see that even with a $1,281 parish investment per child and an additional $1,550 per child coming from endowment earnings, fundraising to the tune of $619 is still needed to maintain our per pupil tuition rate.
That is why we still hold fundraisers like the Golf Outing, Annual Fund Drive, and Auction despite having healthy endowments.
We are grateful for all the school families, alumni, parishioners, grandparents, and former school parents who have generously supported our fundraising efforts throughout the years.
We hope this document justifies the confidence you had in our school when responding positively to requests for your financial support.