School Endowment

Description

The account has been established in November 2000, by the Board of Directors of the McHenry County Catholic Education Foundation with funds from the dissolution of the Foundation to continue the purposes as designated when the Foundation was established in 1973. To operate exclusively for religious, educational, and charitable purposes. To provide financial support to all facets of Catholic education within the school including full-time academic and religious training in the school and any other present or future Catholic education programs. To reduce, but not guarantee the reduction of parish assessments levied to meet operating costs of the school; to reduce but guarantee the reduction of tuition, fees and other assessments levied against students attending the school; to reduce but not guarantee the reduction of the cost of education for needy students by providing scholarships; and to assist any other worthy educational programs or projects.