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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