Financial Support to School

  ST. BONIFACE CATHOLIC SCHOOL ENDOWMENT TRUST FUND

(SBEF)

 

Since the Trust‘s inception in 1998, it has met its mission of providing financial support to St. Boniface Catholic School.  After building up funds for three years, the SBEF made its first distribution to the school in 1991, providing $6,000 to build a computer lab.  From that time until the present date, the trust has provided a total of $877,366.58 in financial support to the school.

This support has come in several forms, with the first being in monetary funds to help cover the cost of operating the school.  At first, SBEF was giving the school $2,500 a year.  It has now grown to $5,500 monthly for a total of $66,000 per year.

Other forms of support include the remodeling of the school cafeteria, a new boiler for the school, and many school repairs.  One of the most important forms was establishing the yearly Football Fundraiser.   This one program provides direct support to all the students, staff, and the school.

The biggest challenge the fund faced came in 2008 when the stock market fell. At the same time, St. Boniface Parish had to reduce its subsidy to the school by $100,000.  The SBEF was asked to pick up the shortfall.  Fortunately, the SBEF had built up an emergency reserve fund, and was able to meet the challenge.  $170,000 was given to the school in that one year.