“The cost to educate a student at St. Mary’s per year is $7,200. Tuition covers just 40% of that cost. Ever since the school was founded by the Ursuline Sisters in 1908, not one family has ever been turned away due to their inability to pay tuition. It is only with the help and support of our broader St. Mary’s, the Palouse community and beyond, that we have been able to do this. Your donation, no matter how big or small, will make a huge difference in the lives of our students.”
Sister Margaret Johnson, osu
St. Mary’s School Foundation
The St. Mary’s School Foundation Endowment Fund began in 1980 with $30,000 and is now valued at over two million dollars in the fall of 2021. All earnings on money given to the Foundation help fund the operational expenses for St. Mary’s Parish School. The explicit goal of the St. Mary’s Foundation, in close partnership with the Annual Development Board is to help St. Mary’s School keep tuition costs low so that as many students as possible can experience an exemplary Catholic education.
The mission of the St. Mary’s School Foundation is to invite, accept and maximize private support for the St. Mary’s School curriculum, goals and facilities. The Foundation members prudently manage, invest locally, and steward the assets entrusted to us by our generous donors. We strive to build the financial stability of St. Mary’s School through the development of an Endowment Fund with the goal to eventually provide 50% of the School’s operating expenses. In order to do that, we need to reach a corpus of five million.
What is the Investment philosophy and objective of the St. Mary’s School Foundation?
Our investment philosophy seeks to maximize the return on investments while minimizing the risk to the endowment principal, which remains untouched. Annually the Fund transfers earnings up to 5% of the total Endowment’s value into the St. Mary’s School general operating budget. The amount of money transferred depends on the growth of the Fund over the preceding year.
Some of our immediate needs can also be supported through an Annual Fund Donation. Those needs include support of our music and performing arts programs, a school bus to support field trips, scholarship programs, (need more needs identified here).
If you would like to know more information on how to give or to talk with one of the Foundation members, please contact our school to make a donation today:
Sister Margaret Johnson, osu (Secretary to the Foundation Board)