The Endowment Fund, as of June 30, 2019, has a balance of $8.36 million. The Endowment Fund principal is invested in a balanced portfolio which adheres to the parameters of the Investment Policy Statement of Cor Jesu Academy. The Principal is never spent, but the income from these investments, limited to 5% of the fund balance, is used for financial aid each year. Financial assistance was given to 40% of our families this year. Our goal is to provide a greater dollar amount of financial assistance to a greater number of girls who qualify academically each year.
After exceeding our first 10 year goal to have an Endowment Fund balance of $7MM, we are now one year into our next ten-year goal. Our Endowment Fund goal for 2028 is to have an $18MM balance, which would provide $900,000 of distributions annually for financial aid.
We believe that Cor Jesu is an extraordinary resource to young women, their families and our community. We rely on the generosity and support of parents, alumnae, parents of alumnae, grandparents, faculty and friends to continually advance the spiritual and academic mission of Cor Jesu.