Endowment gifts serve as a permanent source of income. Donations are invested for long-term growth. The principal remains untouched and interest is used for scholarships, faculty/staff professional development, as well as for general operating support. The bulk of St. Francis High School’s endowment funds are invested at the Commonfund (the largest non-profit investment management firm in the US), and one scholarship fund is at the Community Foundation of Louisville.
We are constantly evolving to meet the expectations of our students and faculty. Our ongoing challenge is to look ahead, which is where the endowment comes in. Every year, thanks to generous donors, SFHS’s endowment continues to increase. The St. Francis High School Endowment is a permanent fund from which only income is spent, while the principal remains untouched and continues to grow. The Board’s investment committee decides on the annual spending rate each year, which on average has historically been 5% of the previous year’s balance on December 31. Each year, this income supports scholarships and faculty professional development, as well as general operations. It ensures that today’s students, as well as future generations of Wyverns, have continued access to excellent teaching, exciting academic and extra-curricular opportunities, and an inclusive community that welcomes people of all backgrounds.
Endowment gifts can be made to support a donor’s particular interest, such as scholarships or professional development. In addition, donors can make unrestricted endowment gifts that allow the school’s administration and Board of Trustees to use the proceeds to fund the school’s most pressing needs. The minimum amount for a named endowment gift is $10,000.
St. Francis High School’s endowment funds are invested primarily in Commonfund, which is a mission-based non-profit membership organization that serves the investment management needs of endowments, foundations, educational institutions, healthcare organizations, and other nonprofits. It is the largest mon-profit investment manager in the US, serving over 1800 organizations, and managing over $45 billion in investments. Commonfund can be found at www.commonfund.org. The school’s unrestricted endowment funds, the Edward E. Ford Foundation Scholarship Fund, the Michael Carnighan Scholarship Fund, the David Morton Memorial Scholarship fund for Disadvantaged Youths, the Madison Cawein Scholarship Fund, and the professional development endowment funds are all at Commonfund.
In addition, St. Francis High School has one named scholarship endowment, The Gulledge Scholarship, at The Community Foundation of Louisville, which is a community-based, independent, non-profit organization.
The following are the school’s current named scholarship endowment funds:
The F. A. and Loretto A. Gulledge Memorial Scholarship Fund was originally created in 1991 and supports need-based financial aid scholarships.
Established by an anonymous donor in memory of Michael Carnighan ‘88, The Michael Carnighan Scholarship Fund is awarded to a student who demonstrates financial need, and expresses integrity, leadership, and enthusiasm to attend St. Francis High School. This fund was originally created in 1993, and was modified for its current purpose in 2006.
The Edward E. Ford Foundation Scholarship Fund provides support for need-based financial aid awarded each year. The fund was established in 2006 with a $50,000 grant from the Edward E. Ford Foundation. Based in Portland, Maine the foundation’s primary purpose is to promote and advance secondary, Independent school education across the country. This fund was created in 2005.
The Madison Cawein Scholarship Fund, established in 2005, awards need-based scholarships to students who demonstrate outstanding aptitude in and enthusiasm for the visual arts.
The David Morton Memorial Scholarship Fund, which supports scholarships for disadvantaged youths, including past participants in the Youth Alive! program. The fund was originally created in 1990, and was modified for its current purpose in 2007.
The Holt Family Scholarship Fund, which supports general, need-based financial aid scholarships, was created in 2007.
The following are the school’s current named professional development endowment funds:
The Edward E. Ford Foundation Professional Development Endowment Fund, which supports faculty professional development, was created in 1984.
The Henrion Professional Development Fund is designated for the personal growth and professional development of our faculty and staff. The fund’s income helps cover the expenses for faculty working on research, writing, or art projects, as well as expenses for professional development such as seminars and classes.
Exciting News!
The school was awarded a $50,000 scholarship grant from the Edward E. Ford Foundation in November of 2008. This gift will fund a three-year scholarship for a student from the former Youth Alive! program. However, in order to receive this scholarship, we must raise $100,000 in endowment funds for scholarships for disadvantaged youths by December 31, 2009. If you are interested in helping us reach this goal, please contact the Development Office at 502-736-1008.
We are constantly evolving to meet the expectations of our students and faculty. Our ongoing challenge is to look ahead, which is where the endowment comes in. Every year, thanks to generous donors, SFHS’s endowment continues to increase. The St. Francis High School Endowment is a permanent fund from which only income is spent, while the principal remains untouched and continues to grow. The Board’s investment committee decides on the annual spending rate each year, which on average has historically been 5% of the previous year’s balance on December 31. Each year, this income supports scholarships and faculty professional development, as well as general operations. It ensures that today’s students, as well as future generations of Wyverns, have continued access to excellent teaching, exciting academic and extra-curricular opportunities, and an inclusive community that welcomes people of all backgrounds.
