Parish News & Information

Parish Educational Endowment

About our Endowment

In 2000, under the leadership of Pastor Fr. Carl Morello, St. Paul established the Parish Educational Endowment Fund. The goal of the fund is to help keep tuition as low as possible making Catholic education available to all families and to provide scholarships to well deserving and students in need and to assist with other educational needs of the parish. The fund began with a $10,000 donation from the school walk-a-thon fundraiser. The fund’s initial goal was to reach 1 million dollars and, until that goal was met, no monies were spent.

Upon reaching our initial goal of 1 million, we established 4 scholarships. In 2006, we established the Maureen McCambridge Scholarship which is a $1,000 award to a 7th grader for 8th grade tuition. The award goes to the student who best exemplifies Catholic traits of faith, love, understanding, compassion and hard work. Maureen McCambridge was one of the most dedicated and hard working volunteers of our parish. We have also established 3 need’s based scholarships of $1,500 each. Additionally, the endowment has made substantial annual contributions to the school in order to keep tuition rate increases to a minimum. The endowment has also contributed to the catechesis program. As we turn to our next chapter, our goal is to grow the fund to 2 million dollars and beyond in order to further help keep tuition increases to as low as possible as well as to establish additional scholarships and to help out the parish with all educational needs.

Donate to the Endowment

You can make a donation to the Parish Educational Endowment Fund here. If you would like to make a stock donation please complete the letter of intent.

Our Endowment Continues to Grow

The Parish Educational Endowment received more than $138,000 in donations in 2013; these donations include a $50,000 donation from a single donor as well as half of a $100,000 end of year donation. In order to keep our scholarship income from the Endowment viable the Endowment Committee worked with the treasury manager of the Archdiocese of Chicago to create The St. Paul of the Cross Scholarship Endowment Fund. Part of the fund was established by our end of year donations and part by Income from our Parish Education Endowment. The fund is managed as a 50/50 balanced investment portfolio.

How to Apply

Funding requests are reviewed by the Endowment Board which makes recommendations to the Pastor for a final decision. To apply for Educational Endowment Funds, please complete the Requisition Form below.

CONTACT INFORMATION

Contact Person*

Home or Work Phone Number*

Cell Phone Number*

Email
PURPOSE OF THE CLUB, GROUP, OR ORGANIZATION

Include the history of the organization (e.g. is it new, ongoing or a one-time activity, etc.) and any other information that would be helpful to demonstrate how the organization and its activities serve the educational needs and maintenance support of St. Paul of the Cross School and its facility.*
CLUB, GROUP, OR ORGANIZATION INFORMATION

Name of Club, Group, or Organization*

Estimated Number of Student Participants*

Grade Level of Student Participants*

Name of Adviser / Moderator*

Amount Requested*

Date Funds Are Needed*

Date Program Will Begin*

SOURCES / USE OF FUNDING

Explain in detail how the endowment funds would be spent by the group. Include detail on the actual cost for the proposed activities, the proposed stipend for the moderator (if any) and the other sources of funding (e.g. grant money, fundraising and/or contributions by participants, etc.). Budget details should be provided in the form budget attached to this application or attach your own budget proposal in a similar format. *

Is a stipend requested for the advise / moderator?*
YES
NO

If a stipend is requested, please estimate the hours that the adviser / moderator will spend on the club, group, or organization
OTHER FUNDRAISING

If the organization/club/group is also fundraising for the activity/event please detail how and when.*
FINANCIAL HARDSHIP

Please include any concerns that the Endowment should be aware of (i.e.) the need for student scholarships to enable participation. *
ADDITIONAL DETAILS

Explain why the funds cannot be self-generated and why Endowment funds are necessary*
BUDGET

Please include a Proposed Budget for the club, group, or organization*