On September 8, 629 students filed through Central Catholic’s corridors. From the bewildered freshmen to the sophisticated upperclassmen, it was still the beginning of a new year. It was the year 1964 and it was their year to make Central Catholic a “notable achievement.” -The Lance 1964
Forward fifty-years and the Central Catholic Class of 1964 continues the legacy of notable achievements. Back in September of 2014, the Class of 1964 celebrated their 50th class reunion. As part of the reunion celebration, the class, led by alumnus Dave Manley wanted to do something BIG. 1964 was a big year, with the largest student body since Central Catholic opened in 1957, new faculty additions and new courses added to the curriculum. Dave wrote to his classmates, “ I would like to challenge the Class of 1964 to raise $25,000 for a school endowment to support the academics, athletics, and fine arts. A $25,000 endowment will provide Central Catholic approximately $1,250 to disburse on an annual basis.”
On March 14, 2017, the Class of 1964 became the first graduating class to establish a named scholarship fund in the school’s history. Through the efforts of many, the $20,000 threshold was surpassed to create the “Class of 1964 Scholarship Fund”. The purpose of the fund is to provide scholarships for Central Catholic Jr. – Sr. High School students entering grades 9 – 12 who demonstrate financial need, a good academic record, represent a good moral character and are involved in extracurricular activities. Money from the scholarship will start disbursing each year beginning the 2019-20 school year.
Why is the first scholarship not awarded for two years?
The Class of 1964 Scholarship Fund is professionally invested and managed as part of a larger pool of monies within the Lafayette Diocesan Foundation, Inc. The sole intention of the endowment is to invest the money so the original investment will yield 5% interest-only scholarship payments each year in addition to generating more principal. By not touching the original investment for two years, this provides time for the original investment to grow.
Why is this endowment important?
57% of students receive some form of financial aid to help offset tuition costs that range from $5,076 for K – 6th to $9,260 for a 12th grader. Since the Class of 1964 Scholarship Fund is part of a permanent endowment, it provides a reliable source of scholarship funds in perpetuity. The endowment scholarship creates access for more families and provides additional money in the school budget to pay teachers and increase academic offerings.
What types of donations were made to the endowment?
Contributions of cash were the most common during the 3-year pledge period. Some donors used corporate matching gifts and appreciated stock donations.
How much money was required to endow a scholarship?
The Lafayette Catholic School System currently requires $20,000 to endow a $1,000 annual named scholarship. The Class of 1964 created a 3-year pledge period to raise the minimum amount.
How do you start an endowment fund with the Lafayette Catholic School System?
Contact the Lafayette Catholic School System Advancement Office at (765) 474-7500 or email@example.com.