Cathedral Preparatory School

Academic Excellence Foundation

Endowment Essentials

An endowment is a gift that is kept in perpetuity and invested in a way that protects the original amount (the principal) from inflation. The income that is derived from the investment provides a stable and somewhat predictable source of funding for academic programs and financial aid.

Economies are unpredictable. The stock markets rise and fall. Wealth is created and lost. But an endowment, with proper management and control, can be a steady and reliable income stream to private schools such as Cathedral Prep. Since the principal is constantly reinvested, the earnings can address those areas deemed critical to the mission of the school….such as financial aid to our students. Prep must remain an affordable option, and maintain the ability to attract students from all aspects of our society, not just the elite. If we do not do this, we will have failed to uphold the vision of our founder, Archbishop Gannon.

When Cathedral Prep Alumni support the endowment, they are helping to support the education of a future generation of young men, and paying back those from the previous generation who believed in them. As the endowment grows and becomes a dependable income stream, Prep no longer has to depend solely on tuition to provide for its substantial financial requirements. These gifts are critical to the future of Cathedral Prep.

History of the Foundation

The Cathedral Prep Academic Excellence Foundation was established in 1992 in order to establish an irrevocable charitable endowment trust fund to maintain, perpetuate, and improve the academic programs and services offered by Cathedral Prep, to provide academic scholarships for deserving students, and to maintain and improve the equipment, facilities and property used in providing those programs and services.

Msgr. John Daniszewski ‘35 was given the task of reaching out to the Prep community to contribute to the Foundation. The A.E.F. Board of Trustees was created shortly thereafter to oversee the management of the funds. Today, thanks to the hard work of Msgr. John and the board, the Academic Excellence Foundation has a market value in excess of $3 million and continues to grow. Each year Prep’s endowment makes vital contributions to the school in the form of financial aid and academic improvements….to date, over $1,000,000 has been awarded.

Donor Benefits

Gifts to the Foundation offer benefits to both the school and to the donor. Just as endowment funds provide Prep with the resources necessary to remain the preeminent academic and athletic secondary institution in Northwestern Pennsylvania, donors have the opportunity to have a lasting influence on the character of the school, as well as to honor and remember loved ones.

Management of Funds

The Academic Excellence Foundation is managed separately and differently than the school’s general operating funds. Investments are made in a diversified portfolio of securities designed to earn safe and reasonable annual returns. These investments are managed by a private financial service company that is not affiliated with Cathedral Prep. This company is selected and monitored by the Foundation Board of Trustees, which meets on a quarterly basis.

Foundation Trustees

The following professionals make up the current Board of Trustees of the Academic Excellence Foundation:
Mr. Bernard J. Lechner, Foundation Chairman
Mr. Jeffrey W. Evans
Mr. Michael Grab
Fr. Scott Jabo
Mr. Richard Scolio
Mr. Bruce Kern
Mr. Dale DeMarco
Fr. Edward M. Lohse
Atty. Norman Stark
Msgr. Robert Brugger

Creating a Named Fund

Currently there are forty-four named funds within the Foundation. A named fund can honor the name of a deceased loved one, a classmate, a teacher, or a group of people, including entire graduating classes. Donors can establish a named endowment fund through outright cash gifts to the Foundation, life insurance policies, bequests in wills, or other planned giving arrangements made through the Advancement Office at Cathedral Prep.

Once a fund has been established, the principal can be added to at any time by anyone who is interested in its designated purpose and would be inclined to support it. A named fund is a lasting tribute to the person so honored, and his/her name and legacy will live on at Prep.

Contact Information

For more information about the Foundation, named funds, or planned giving please contact:

Chris Hagerty, Director of Advancement
Cathedral Preparatory School
225 West 9th St.
Erie, PA 16501
Phone: 814-453-7737 Ext. 245

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