Centennial Campaign - Cause for Celebration!
Phase One of the facilities master plan is complete!
Originally envisioned as a $15 million campaign when launched, to date the Centennial Campaign has raised over $25 million in cash gifts, signed pledges and planned gifts: $16.2 million in cash and pledges toward facilities improvements, $2.1 million in cash and pledges toward endowment and current tuition assistance and over $7 million in documented future gifts (bequests, life insurance, retirement plans, etc.).
With the completion in summer 2020 of the 333 space Michael R. Quinlan ’62 Parking Center (below), phase one of the facilities master plan is now complete!
Michael R. Quinlan ’62 Parking Center
View a Time-Lapse Construction Video
With the completion of phase one, and with the world in a dramatically different place in 2020 than in 2019, there will be a break in construction activity for some time before proceeding to phases two and three of the facilities master plan.
Immediate Priority - Endowment/Tuition Assistance
Endowment growth and current tuition assistance are part of the Centennial Campaign, and there has been success to date raising these funds. However, with the economic and employment ravages brought on by the coronavirus pandemic, providing current and future tuition assistance to our students and families is the priority of the Centennial Campaign in the near term.
Over the ’20-’21 and ’21–’22 school years, the primary goal of the Centennial Campaign is to secure $10 million in current tuition assistance and endowment commitments (cash, pledges and planned gift commitments). Fenwick aims to provide our students and families the financial support they need to come to Fenwick, to stay at Fenwick, to provide as much opportunity for the students of today who will be the leaders of tomorrow. We do not want financial uncertainty to stand in the way of anyone receiving a Fenwick education.
This growth will come primarily by way of establishing or adding to “named” scholarship funds. Fenwick currently has nearly 15 “named” expendable scholarship funds that provide current tuition assistance and nearly 30 “named” endowed scholarship funds that provide tuition assistance in perpetuity.
In addition to many individuals and families, several classes have established “named” scholarship funds:
Class of ’52
George E. Tapling Class of ’73
Class of ’59 Roger Finnell
Class of ’60
Class of ’62
’68 Class of Champions
Class of ’74
Over time, it would be ideal if every Fenwick alumni class established an expendable scholarship fund ($50,000 commitment) or an endowed scholarship fund ($100,000 commitment) to pay-it-forward to ensure that future students can access the transformative education and experience that they did.
Planned Giving - Giving from Assets, not Income
The vast majority of wealth for most people is in their asset base - homes, retirement accounts, non-retirement securities portfolios, life insurance, etc. - as opposed to their income stream. Giving from one’s non-cash asset base generally has much greater tax advantages than donating cash. The simplest way to donate from your asset base is through a bequest in your will or trust. Gifting long-term appreciated stock is a great, tax-efficient way to give today. There are even ways to create an income stream for life, receive a tax break today, and make a major gift to Fenwick.
Bequests, charitable trusts, life insurance, retirement assets, and the like – can play an enormous role in establishing or growing scholarship funds. If all classes established funds, might members of the class of x, y or z consider a gift to their class scholarship in their estate plans? For many benefactors it is easier to leave $10,000 or $25,000 or $100,000 in a bequest gift than to make an outright gift. Those gifts can significantly boost the principal amount of scholarship funds over time.
Documented planned gift intentions to Fenwick are recognized by the benefactor’s inclusion in the Bernacki Society. Over the past four years nearly 25 new benefactors have joined the Bernacki Society. We expect to continue to see excellent growth in the Bernacki Society during The Centennial Campaign and beyond. For more information about the benefits of planned giving and/or the Bernacki Society, please contact Jen Iarrobino, Major and Planned Gifts Officer: email@example.com, 708-948-0311.
This is a momentous time for Fenwick. With your continued generosity and faith in Fenwick, Excellence, Leadership, Tradition – the Centennial Campaign for Fenwick High School will be successful and will ensure that future generations of Friars can enjoy the same academic rigor rooted in faith that the Dominicans have taught at Fenwick since 1929. Thank you!
For more information or any questions about The Centennial Campaign, please contact Chris Ritten, V.P. of Institutional Advancement: firstname.lastname@example.org, 708-948-0350.