Catholic Education Scholarship Trust Impact Overview

IMPACT OVERVIEW School Year 2024/25

A WORD FROM THE CATHOLIC EDUCATION SCHOLARSHIP TRUST BOARD It is an honor to serve on the board of the Catholic Education Scholarship Trust (CEST) and help provide Phoenix Scholarships to families across Cook County and Lake County. Our Catholic schools provide high-quality, rigorous education and a supportive faith- and values-based community to children and their families. As members of the Catholic Education Scholarship Trust Board, we are humbled to steward and guide this Trust and help provide families with tuition assistance that has a positive impact on our students’ lives. Since its inception, the Trust has provided Phoenix scholarships to over 10,000 students. On behalf of those students and families, we extend our heartfelt thanks to the thousands of generous donors who have made this scholarship endowment possible.

Sincerely yours in Christ,

Cardinal Blase J. Cupich Archbishop of Chicago Archdiocese of Chicago CEST Board Member

Greg A. Richmond Superintendent of Catholic Schools Archdiocese of Chicago CEST Board Member

Bishop Lawrence J. Sullivan Vicar General Archdiocese of Chicago CEST Board Member

Mary Pat Burns CEST Term Board Member Ted Hocter Sr. CEST Term Board Member Thomas King CEST Term Board Member

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THE PHOENIX SCHOLARSHIPS A Catholic school education is a life-changing experience that provides an opportunity for a better future, while giving children and their families both spiritual enrichment and community support that can last a lifetime.

Because all families cannot afford a Catholic school education, the Catholic Education Scholarship Trust (CEST) is there to help eligible children access a quality education at one of our schools.

CEST was established in 2013, in conjunction with the Archdiocese of Chicago’s To Teach Who Christ Is capital campaign. Phoenix Scholarships are awarded based on the recommendations of the Scholarship Delegation Committee to families who demonstrate financial need among other criteria defined by the board.

The scholarships are provided to eligible students in grades K-12 in Catholic schools throughout Cook County and Lake County. Qualified students can apply for these renewable awards that follow the child should they transfer to another Catholic school within the archdiocese.

CEST is an independent 501(c)(3) tax exempt organization. The Northern Trust Company of Chicago is acting as a Directed Trustee. The archbishop of Chicago, the vicar general, the superintendent of Catholic schools and three volunteers with no business ties to the archdiocese serve on CEST’s board.

CEST is an endowment that achieves long-term appreciation of capital to ensure a long-term source of funding. An Investment Delegation Committee appointed by the trust board makes investment decisions in accordance with its investment policy and receives investment support from Cambridge Associates. The board awards a portion of the endowment each year as need-based scholarships.

We are incredibly grateful for the support of the many generous donors who support the Phoenix Scholarships. Your investment in our students not only helps afford children the gift of a high-quality education, but it is also a wise investment in the future of our community.

Our Catholic schools empower young students, enrich their lives spiritually and emotionally while preparing them for the future.

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CEST PORTFOLIO AND ANNUAL PERFORMANCE as of June 30, 2025

The investment portfolio delivered a strong 12.3% return for the fiscal year, slightly trailing the benchmark—largely influenced by outsized gains from the ‘Magnificent Seven’ tech stocks.

The Trust’s market value stood at just under $71 million as of June 30, 2025.

CEST Investment Performance

CEST Market Valuation

40%

$80M

30%

$70M

20%

11.5%

10%

14.4%

$60M

12.3%

$50M

56.5M

60.6M

66.1M

70.9M

$40M 0%

$30M

-10% -20% -30%

$20M

-15.1% FY2022

$10M

FY2023

FY2024

FY2025

$0M

FY2022

FY2023

FY2024

FY2025

CEST INVESTMENT ALLOCATION as of June 30, 2025

To support long-term performance goals, new private investment managers have been engaged as part of our continued progress toward the approved 15% private investment allocation.

Fixed Income 12.4%

US Equity 26.5%

Private Equity 0.7%

Diversifiers 20.4% International Developed Equity 7.4% Emerging Markets 5.7%

Source: Cambridge Associates. All rates of return are nominal and net of investment fees.

Global Equity 26.9%

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PHOENIX SCHOLARSHIP DISTRIBUTION TREND SINCE INCEPTION The number of Phoenix scholarships has grown substantially since 2016/17. While there was a modest decline in 2023/24, the total number of scholarships awarded rebounded in 2024/25, driven by heightened demand following the conclusion of the Invest in Kids program. $2.5M $2.25M

$2.23M

$2.26M

$2.10M

$2.29M

2021/22

2022/23

2023/24

2024/25

$1.87M

$2M $1.75M

$1.44M

$1.5M

$1.36M

$1.25M $1M

$0.85M

$0.75M $0.5M $0.25M $0.0M

2017/18

2018/19

2019/20

2020/21

PHOENIX SCHOLARSHIPS PROVIDE CRITICAL FINANCIAL ASSISTANCE TO STUDENTS FROM DIVERSE BACKGROUNDS, MAKING CATHOLIC SCHOOLS AFFORDABLE FOR THEIR FAMILIES School Year 2024/25

66%

70% 60%

55%

50% 40%

27%

30%

26%

20% 10% 0%

11% Black Archdiocese of Chicago Students

4

8%

6% White Phoenix Scholars

Hispanic

1% Asian/Other

“I could never afford to send my children to a Catholic school without the help of scholarships like the Phoenix scholarship. I firmly believe that a Catholic education sets our children on the right path. Being able to grow in their knowledge and love of God daily is a true gift. Thank you for making this possible!.”

– Phoenix Recipient Family

SOCIOECONOMIC STATUS OF FAMILIES RECEIVING A PHOENIX SCHOLARSHIP School Year 2024/25 40% Household income equal to or less than $32,150*

34% Household income above $32,150 and less than $50,000

18% Household income equal to or above $50,000 and less than $75,000

8% Household income greater than or equal to $75,000 *Federal poverty level is $32,150 for a family of 4.

A family of four receiving a Phoenix Scholarship in 2024/25 had an average household income of less than $42,000 per year.

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RESTRICTED ENDOWMENTS In addition to nonrestricted scholarships, Phoenix Scholarships include some funded and designated by seven specific endowments. Each of these seven endowments, established in partnership with CEST donors, funds Phoenix Scholarships within criteria dictated by donor requirements. Phoenix Scholarships are awarded each year to eligible students meeting the specific criteria of each endowment.

Restricted Endowments

2024/25 Scholarships

Life-to-date Scholarships

Fr. Augustus Tolton

$124,000

$621,388

Croghan Family

$34,875

$259,750

St. John the Baptist de la Salle

$44,000

$210,500

St. Agatha

$33,900

$117,210

St. John Paul II

$11,375

$84,183

San Juan Diego

$3,850

$28,483

Phelan Family

$1,100

$1,700

$253,100

$1,323,214

FR. AUGUSTUS TOLTON ENDOWMENT Established in 2016, this fund provides Phoenix Scholarships to African American students attending Catholic schools in the Archdiocese of Chicago. Venerable Augustus Tolton (April 1, 1854 – July 9, 1897), a former slave, was the first Roman Catholic priest in the United States publicly known to be black when he was ordained on Easter Sunday 1886 in Rome at the Archbasilica of St. John Lateran. Tolton first ministered to his home parish in Quincy, Illinois. Later assigned to Chicago, Tolton led the development and construction of St. Monica’s Catholic Church as a black “national parish church,” completed in 1893 at 36th and Dearborn Streets on Chicago’s South Side. His intelligence, tenacity, experience and commitment to the African American community in Chicago have made him a special patron for the City’s African American youth. He was declared Venerable by Pope Francis in June 2019.

CROGHAN FAMILY

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CROGHAN FAMILY ENDOWMENT This fund was established in 2017 to help students from low-income families attend archdiocesan Catholic schools selected by the Croghan Family.

ST. JOHN THE BAPTIST DE LA SALLE ENDOWMENT Established in 2017, the fund provides Phoenix Scholarships to children of our Catholic school teachers, administrators and staff. wikimedia.org

St. John the Baptist de la Salle was a French priest, ordained in 1678. He was of noble birth and as a priest, devoted himself to the education of the poor. He established charity schools in France and subsequently formed his teachers into a religious order, the Institute of the Brothers of the Christian Schools. Pope Pius XII declared him the patron saint of all schoolteachers in 1950.

ST. AGATHA ENDOWMENT

Lawrence OP/flickr

Established in 2015, this fund provides Phoenix Scholarships to students from St. Agatha Parish, a predominantly African American parish in Chicago’s North Lawndale neighborhood, or to former students of St. Agatha Early Childhood Center. The pastor of St. Agatha must nominate the students and they must attend a Catholic school in the archdiocese.

St. Agatha was martyred in AD 253 during the Decian Persecution and is considered the patron saint of breast cancer patients, martyrs and wet nurses.

Image by Marzena P. from Pixabay.

ST. JOHN PAUL II ENDOWMENT Established in 2014, this fund provides Phoenix Scholarships to students of Polish heritage attending an Archdiocese of Chicago Catholic school.

St. John Paul II, the first Polish pope, is highly revered among Chicago’s Polish Catholics.

Chicago is home to nearly 30% of the Polish immigrants in the U.S. and has the second largest Polish population after Warsaw. His 1979 visit drew over a million people, and his role in the fall of communism, loving demeanor, and teachings on forgiveness make him a special patron for Chicago’s Polish community.

SAN JUAN DIEGO ENDOWMENT

Lawrence OP/flickr

Established in 2016, this fund provides Phoenix Scholarships to Latino students attending an Archdiocese of Chicago Catholic school.

In 1531, the Virgin Mary appeared to San Juan Diego at Tepeyac Hill, instructing him to tell the bishop to build a shrine. After initial disbelief, the bishop was convinced by a miraculous sign of roses and an image of Mary on Juan Diego’s cloak. The Basilica of Our Lady of Guadalupe now stands on the site. The feasts of San Juan Diego on Dec. 9 and the Virgin of Guadalupe on Dec. 12 are cherished by the Latino community worldwide..

PHELAN FAMILY

PHELAN FAMILY ENDOWMENT This fund was established in 2022 by the Phelan Family Trust in honor of Father Francis Phelan and Sr. Mary Donatilla Lorenz. Funds from this endowment are used to provide scholarship support to students attending Catholic schools near the former St. Martin de Porres School.

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PHOENIX SCHOLARSHIP DISTRIBUTION, INCLUDING FUNDS FROM RESTRICTED ENDOWMENTS Awarded by CEST

Scholarships Using Restricted Endowments Scholarships Using Unrestricted Funds

School Year 2024/25

Life-to-date

Amount Number of Distributed Awards

Amount Number of Distributed Awards

$253,100

173

$1,323,214

1,031

$2,040,315

1,216

$13,471,229

9,109

$2,293,415

1,389

$14,794,443

10,140

CATHOLIC SCHOOLS WITH STUDENTS RECEIVING PHOENIX SCHOLARSHIPS School Year 2024/25 School

Award Amount

Total Awards

School

Award Amount

Total Awards

Academy of St. Benedict the African

$57,190

35

Our Lady of Tepeyac School

$35,450

21

Augustus Tolton Catholic Academy

$50,280

23

Our Lady of Tepeyac High School

$7,500

3

Cardinal Joseph Bernardin Elementary School

$1,000

1

Our Lady of the Snows School

$44,050

31

$500

1

Pope John Paul II Catholic School

$44,105

26

$27,400

19

Queen of the Universe School

$52,900

36

$500

1

Resurrection College Prep High School

$1,000

1

De La Salle Institute

$2,500

3

Sacred Heart School

$64,400

43

DePaul College Prep

$3,000

3

St. Eugene School

$12,100

5

Epiphany School

$40,250

26

Saint Patrick High School

$3,500

5

Fenwick High School

$1,500

2

Saint Viator High School

$1,000

2

Immaculate Conception School (Exchange)

$52,320

36

Sts. Bruno and Richard School

$82,900

50

Leo High School

$10,250

3

SS. Cyril and Methodius School

$1,500

1

Marist High School

$1,000

1

St. Agnes of Bohemia School

$72,700

60

Maternity BVM School

$69,200

43

St. Agnes School

$59,150

31

Most Blessed Trinity Academy

$32,955

21

St. Alphonsus Liguori School

$21,600

11

$500

1

St. Anastasia School

$63,175

30

Notre Dame College Prep

$1,000

2

St. Angela School

$30,600

17

Our Lady of Charity School

$65,750

26

St. Ann School

$51,225

33

Our Lady of Grace School

$39,100

30

St. Bede the Venerable School

$75,340

37

Our Lady of Guadalupe School

$99,070

69

St. Catherine of Siena-St. Lucy School

$65,275

40

Carmel Catholic High School Children of Peace School Cristo Rey Jesuit High School

Nazareth Academy

8

Phoenix Scholarships are provided to Catholic school students in the archdiocese.

Last year, 79 percent of these students attended schools in Chicago and the remainder in other parts of Cook County and Lake County.

School

Award Amount

Total Awards

School

Award Amount

Total Awards

St. Christopher School

$68,110

43

St. Mary Star of the Sea School

$46,375

23

St. Constance School

$17,125

12

St. Monica Academy

$1,000

2

St. Edward School

$9,600

6

St. Nicholas of Tolentine School

$68,470

55

St. Ethelreda

$38,050

20

St. Patricia School

$18,000

13

St. Ferdinand School

$33,600

26

St. Philip Neri School

$38,450

16

St. Frances of Rome School

$85,650

48

St. Pius V School

$45,300

27

St. Giles School

$1,000

1

St. Procopius School

$42,750

26

St. Hubert School

$9,550

5

St. Sabina Academy

$50,600

30

St. Ignatius College Prep

$2,500

3

St. Stanislaus Kostka School

$19,600

11

St. John de la Salle Catholic Academy

$55,850

28

St. Sylvester School

$44,250

33

St. John the Evangelist School

$8,000

5

St. Thomas of Canterbury School

$56,450

17

St. Laurence High School

$1,000

1

St. Vincent Ferrer School

$2,500

2

St. Luke School

$2,000

2

St. Walter - St. Benedict School

$47,300

27

St. Malachy School

$50,650

29

St. Rita of Cascia High School

$1,000

1

St. Margaret of Scotland School

$43,500

27

Trinity High School

$13,000

5

St. Mary of the Angels School

$2,000

2

Visitation School

$22,950

13

St. Mary of the Lake School

$2,500

1

TOTAL

$2,293,415

1,389

Scholarships range by student from $500 to $3,950 with an average award of $1,650.

● St. Patrick

STUDENTS RECEIVING PHOENIX SCHOLARSHIPS ATTEND SCHOOLS THROUGHOUT THE ARCHDIOCESE

St. Anastasia Anastasia ● St. ● Most Blessed Trinity Academy

School Year 2024/25

● Carmel Catholic HS

● St. Hubert

St. Alphonsus Alphonsus Liguori Liguori ● St.

● Loyola Academy

Notre Dame College Prep ●

● Pope John XXIII

St. John John the the Evangelist Evangelist ● St.

Resurrection College Prep HS ● St. Eugene ●

● St. Thomas of Canterbury

St. Monica Academy

●

● St. Constance St.Edward Edward ● St.

●St. Mary of the Lake ● DePaul College Prep ● Saint Patrick HS St. Ferdinand ● Our Lady of Grace ● ● St. Sylvester St. Giles St. ● St. Mary of the Angels St.Angela Angela ● St. Vincent Ferrer ● ● ● St. Stanislaus Kostka ● Maternity ● Trinity HS ● Holy Trinity HS St. Luke ● BVM St. Catherine of Siena/St. Lucy St. Malachy ● St. Catherine of Siena/St. Lucy Fenwick HS ●● Children of Peace ● ● St. Ignatius College Prep St. Ann St. Francis of Rome ● ● St. Procopius ● ●St. Our Lady of Tepeyac Elem & HS Pius V ● ● ● St. Odilo ● Epiphamy Epiphany ● ● Cristo HS Cristo Rey Rey St. Jerome ●Jesuit St. Agnes of Bohemia Jesuit HS ● De La Salle Institute Our Lady of Charity ● Nazareth Academy ● ● De La Salle Institute ● Pope John Paul II Our Lady of the Snows ● Bruno Richard ● SS. Bruno andand Richard ● SS. St. John of the Cross ● St. Daniel the Prophet ● ● Visitation St. Nicholas Tolentine ● Academy of St. Benedict the African St. Mary Star of the Sea ● ● Queen Universe St. Ritaof ofthe Cascia HS ●● Augustus Tolton ● ● St. Philip Neri St. Rita of HS St. Sabina Academy Queen ofCascia the Universe St. Laurence HS ● ● ● ● Leo HS

St. Bede the Venerable ● St. Patricia ●

● Immaculate Conception ● Our Lady of Guadalupe ● Sacred Heart ● St. Margaret of Scotland ● St. Francis de Sales HS ● St. John de la Salle

● St. Ethelreda Most Holy Redeemer

● Brother Rice HS ● St. Linus ● MaristHS HS● Marist ●

● SS. Cyril and Methodius

●

St. John de la Salle

● St. Walter – St. Benedict – Chi campus ● St. Walter – St. Benedict – BI campus

● St. Christopher

CONTACT US Stewardship and Development 312.534.7959 scholarships@archchicago.org

● Cardinal Joseph Bernardin Elementary

● St. Agnes © 2025 Archdiocese of Chicago

Photography: Tricia Koning, Chicago Photo Art, Katie Scully/St. Ann School

Saint Viator HS ●