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In the spring of 2004, the Father Marquette School Board of Education, in planning for the financial future of the school, formed a committee to organize a campaign to establish an endowment. An endowment, a dependable and more permanent third source funding, will offset the rising costs that continue to affect the school. Income from an endowment will assist in the following areas:
1. Tuition Assistance--With rising tuition costs, some families are having difficulty meeting their financial obligations. We want to be able to offer tuition assistance to eligible families in keeping with our mission to provide a Catholic education to any family that desires it.
2. Parish Subsidies--Parishes are having difficulty paying what the school needs to balance its budget. The parishes understand their obligation to the school but they cannot continue to pay large annual increases.
3. Teacher Salaries--The Father Marquette School teachers earn fifty percent of the public school teachers' salaries. Though their teaching is a vocation, they must earn an equitable wage for their commitment to the school.
4.Capital Improvements--The two buildings are owned and maintained by the subsidizing parishes. However, any improvements or expansions are the responsibility of the school. There is no money in the budget for such improvements.
The Father Marquette School Endowment Committee, after two and one half years of planning, has begun its compaign to raise 1.5 million dollars to fund the endowment. The quiet phase of the campaign has begun and will continue until February 2007. The committee hopes to raise 60-70% of the total during this phase. From March through June 2007, the public phase will begin. All parishioners in the Marquette area and graduates of the Catholic schools will be invited to contribute to the campaign.
The money generated from the campaign will be invested in the Michigan Catholic Conference and will be managed by the Marquette Area Catholic Education Fund (MACEF) Board of Directors. Only interest from this fund will be used as income for the school. The principle will remain untouched and will give year after year to Father Marquette School.
With faith, hard work and a commitment to Father Marquette School, the endowment committee strives to live by its mission and reach its goal for the present and future Catholic children of the Marquette area.
Endowment Committee Mission Statement:
The purpose of the Father Marquette Catholic School system is to nourish young people in faith and in development of their spiritual, academic, social, emotional and physical growth. Guided by the Holy Spirit, the school system is a partner with parents in providing a comprehensive quality education for our students. We accept the Church's mandate to share the Gospel message by building a strong sense of community while providing opportunitues for Christian leadership and service.
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