Education Endowment Fund
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WHAT: The Education Endowment Fund Campaign is a parish-wide effort to establish a fund to be used to secure and protect long-term quality Catholic education at St. Agnes. The initial goal is $1.5 million dollars. Once $1 million is on deposit, the investment proceeds will be used for the following, and ONLY the following:
- Teacher incentives and bonuses tied to performance
- Teacher grants for higher education and external learning
- Curriculum improvement
- Tuition assistance
- New program development
WHY: To ensure St. Agnes continues to be a key part of the fabric of West Chester for Catholic education and to continually enhance St. Agnes School’s academic capabilities.
WHO: All parishioners and the local community were asked to initiate this campaign through prayer, volunteer work and financial support. The “Leadership Team” was formed in early 2008, and they began initial visits to members of the Parish who were thought to be able to make significant, three year pledges. This group then recruited “Pacesetters” and “Captains” who continued to seek helpers or “visitors.” The goal was to make personal visits to all parishioners to share the goals of the endowment and to invite financial support. Corporations contributed through our Matching Gift program.
WHEN: Planning began in January, 2008 after a successful feasibility study was conducted in the fall of 2007. Several small events took place in early 2008, to begin sharing the endowment goals and to prepare for a parish-wide “Kick-off” event, Breaking Bread Together, held in May, 2008. Gifts of all levels were solicited as visits continued through the spring and summer of 2008. The initial goal of $1.5 million in pledges was hoped to be reached by June of 2008, and fell slightly short. So, a mail campaign was conducted in late 2008, gathering over $43,000 from nearly 50 donors. We are now up to 98.9% of our initial goal of $1.5M in pledges! Following this initial campaign, the endowment goals continue to be shared and financial support invited from the local community, thereby growing the endowment and increasing its impact on Catholic education.
WHERE: “Visits” took place everywhere – homes, restaurants, baseball and lacrosse fields, etc. throughout the St. Agnes Community.
HOW: All funds collected from campaign pledges are placed in a fund called the St. Agnes Education Endowment Fund. The Education Endowment By-Laws dictate how this fund will be managed and used. Briefly, the Fund itself will be overseen by an external investment firm, retained to manage the fund’s performance professionally and actively. The Education Endowment Board will select the investment firm. The Board will also be responsible for growing the Endowment and for annual financial reporting to the Parish. Membership of the board is nearly finalized.
