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THE EDUCATIONAL ENDOWMENT FUND / NAMED ENDOWED SCHOLARSHIPS
The Educational Endowment Fund was established to provide an additional source of income for the needs of the school. The endowment fund was designed to insure the financial support of the school as it moves into a new era of glory in its history and to enable it to provide quality academic, religious and leadership training for every student.
The endowment fund accepts gifts of all kind. These gifts are invested and only the net annual investment income is available for use by the school. This allows the fund to become a perpetual source of income for the needs of VASJ.
The income each year may be allocated for general operations (to keep tuition costs affordable), capital improvements, financial and scholarship assistance, teacher enrichment, or wherever the need is greatest at the time. This income allows the school to remain competitive and to always be a school in progress — a school constantly enriching its offerings to young people.
The endowment fund is administered by a board of trustees comprised of alumni, parents and professionals who ensure the integrity of the funds, supervise the investment policies and design programs to enhance the corpus of the fund.
Named Endowed Scholarships can be established at VASJ for a minimum of $20,000. This is a wonderful way to establish a scholarship to honor a family, family member, friend or teacher - either living or deceased and support the students at VASJ at the same time. Much like the Educational Endowment Funds, a Named Endowed Scholarship is invested and only the net annual investment income is available for use by the school. This allows the Endowed Scholarship to become a perpetual source of income for tuition support for VASJ students.
Establishing an endowed fund can be achieved by making an immediate gift, or planning for a future donation through a bequest or charitable trust. Donors may contribute to a named endowed scholarship at one time or spread donations over a three to five year period. Contributing to a named endowed scholarship can be a family or class tradition, allowing many to add to the principal fund established by the origninal donor.For more information on contributing to the Educational Endowment Fund or establishing a Named Endowed Scholarship, please contact Barb DiTurno in the Advancement Office at 216-481-8414 ext. 259 or at [email protected].