governance and finances . The Prep ’ s first Board of Trustees was assembled under the leadership of Walter J . Higgins ’ 31 . This group charted a course for a newly-formed and self-sustaining Prep . Shea Hall , the new Prep , opened in 1972 .
Significant pressure through 1979 from debt resulting from the newly constructed Prep threatened the school ’ s survival . The estimated cost of constructing the facility had been $ 3.5 million ; the actual cost turned out to be more than double that amount-- $ 7.5 million . Over the next four years , the intervention and largesse of several alumni , two extraordinary fundraising events ( involving Bing Crosby and Bob Hope ) and a most fortuitous and irregular set of financial conditions combined to prevent financial disaster .
Prudent management of limited resources navigated the new school through tempestuous times . Making ends meet , paying salaries and supporting its academic , sports and co-curricular programs were foremost in the minds of the Prep ’ s administration .
Gradually , leaders emerged in the persons of dedicated and generous trustees , alumni , faculty , parents and friends who managed to plan , work and donate critical dollars in order to fashion a savings account for the Prep . A small endowment was finally created .
In the nearly 40 years that have followed , another generation of leaders has continued this tradition of long-range support for the Prep . Gifts , both large and small , serve as the school ’ s financial cornerstone . Each donation has played an important role in the school ’ s financial stability and security . The current value of Fordham Prep ’ s endowment is approximately $ 33 million .
How You Can Help Our mission is to inspire young men to reflect , question , learn , pray , love , serve , and lead , and this requires opportunities for meaningful , enriching and rewarding student experiences . More than ever , alumni , parents and friends are the lifeblood of that mission . Endowment gifts , the most enduring of investments in our community , guarantee income to provide scholarships and other resources to generation after generation of young Prep students .
Now , more than ever , the need for our entire community of alumni , parents , faculty , benefactors and friends to help build the Prep ’ s endowment is great . The generosity of our donors represents a major part of the Prep fulfilling its academic and spiritual mission . difference between a student ’ s attending Fordham Prep — or even applying — and never having the opportunity to live the Prep experience .
Endowing a scholarship at Fordham Prep is the single most significant and effective gift you can make to our endowment . It has long been a practice of the school to have each scholarship recipient write a personal letter of thanks to his benefactor each year . We want each award holder to understand and appreciate what is being done on his behalf . A named Endowed Scholarship Fund — providing a permanent tuition scholarship — can be titled for an individual , family or organization . A portion of the earnings from a scholarship endowment fund provides revenue for tuition scholarship support .
In order to endow a full or partial tuition scholarship fund , these are the requirements .
• Full Tuition Scholarship : $ 500,000
• Three-Quarter Tuition Scholarship : $ 375,000
• Half Tuition Scholarship : $ 250,000
• One-Quarter Tuition Scholarship : $ 125,000
We are aware that most donors are not able to underwrite such a large amount , but there are other important ways of helping to fund student aid .
• An individual , family or organization can create a named endowed fund with a donation of $ 25,000 or more . Additional contributions to the principal may be made in ensuing years .
• We welcome contributions and pledges of any amount to an existing scholarship endowment fund . A donor who adds to an established fund can enjoy the satisfaction of knowing that his or her gift will help students well into the future .
• Gifts to the endowment may be pledged and paid over a period of up to five years .
To make a gift to the endowment or if you have questions or comments about the endowment , please contact :
Jose R . Gonzalez Vice President Fordham Preparatory School 441 E . Fordham Road Bronx , NY 10458-5175 718-367-7500 x210 gonzalezjr @ fordhamprep . org
Named Endowed Scholarships This is the center of Fordham Prep ’ s endowment target : the creation of additional named endowed scholarship funds . The availability of additional tuition scholarships will make the
We are grateful for your generosity to Fordham Prep . The Board of Trustees , school administrators , faculty and staff take our role as caretakers of your generosity very seriously as we employ the resources at our disposal for the benefit of our students .
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