2 minute read
Endowment
Thirty years ago, St. Philip’s School and Community Center took a major step toward preserving its place as a permanent institution and source of light and transformation in South Dallas, through the establishment of an Endowment. In ten years, with the leverage of our Great Things Lie Ahead Capital Campaign, a match gift by a longtime ambassador of St. Philip’s and former trustee, we were able to grow our endowment to over $8 million. And then, the market crashed. With God’s favor, a new matching gift by an Anonymous donor and the hard, dedicated work of our trustees, Philanthropy staff, and Foundation Board, St. Philip’s endowment has come back from the brink and has finally reached $8 million. Why is this significant? For one, it’s the largest endowment of any South Dallas institution. Secondly, it will yield a higher return in investment income to support the operations of St. Philip’s as we continue to be committed to and effective in enhancing the lives of children and families, regardless of economic background, but with particular emphasis on low and moderate income families through educational excellence, Christian principles, and compatible community services. And most importantly, it allows St. Philip’s to directly impact the lives of over half of its student body through the provision of scholarships and tuition assistance. “It’s amazing to see what the endowment has grown into over the last 15 years. I remember how we started,” says Dow Crocker, Chair of St. Philip’s Foundation Board and longtime supporter
“…it allows of St. Philip’s. “Now we can contribute more than 10% of St. Philip’s School and Community St. Philip’s to Center’s annual operating budget that is now approximately $4 million a year. We are so directly impact thankful for those who have supported this effort.” the lives of over half its student The $400,000 that will be contributed to St. Philip’s in the coming year will specifically body.” be used toward the School’s Tuition Assistance program that has doubled in recent years. Over 60% of our student body receives some type of Tuition Assistance. St. Philip’s is committed to ensuring a first generation private school education to families, especially working and lower middle class households. “This is a game changer,” says Dr. Terry J. Flowers, Executive Director and Headmaster. “We look forward to sustainability in the coming years and blessing even more lives.”
