CHARLOTTE — Funds from the Diocese of Charlotte’s “Forward in Faith, Hope, and Love” campaign specifically earmarked for tuition assistance are being distributed again this fall. Eight diocesan schools received a total of $152,213 this school year – the highest amount given out since the aid program began.
The $65 million FFHL campaign, which is funding capital needs and endowments for parishes and ministries across the diocese, among other initiatives, brought in more than $4 million to fund a tuition assistance endowment for the diocese’s 19 schools.
The FFHL campaign surpassed its goal in pledges and has received $53.4 million in payments through August. That amount is expected to rise as pledge payments continue coming in.
The $152,213 awarded to eight diocesan schools for the 2020-’21 school year will help participating Catholic families with the greatest financial need. All schools that applied received funding: Asheville Catholic School, Bishop McGuinness High School in Kernersville, Immaculata School in Hendersonville, Immaculate Heart of Mary School in High Point, Our Lady of Grace School in Greensboro, Sacred Heart School in Salisbury, St. Leo School in Winston-Salem and St. Michael School in Gastonia.
“This FFHL tuition assistance initiative is a wonderful example of our shared mission and responsibility across the diocese to bring Christ to others,” said Dr. Greg Monroe, diocesan superintendent of schools. “The good work our schools do in preparing students to become intentional missionary disciples of Christ would not be possible without the contributions of more than 15,000 selfless donors.”
The tuition assistance endowment is administered by a committee consisting of the diocese’s schools superintendent, chief financial officer and members of the diocesan school board. Available income from the endowment is distributed to qualifying diocesan schools each year for student financial aid.
An endowment is a permanent fund, the principal of which is never touched, but the income from which can be used according to the wishes of the donor organization or individual. Endowments provide a way to generate income and help sustain the long-term strength and viability of the recipient parish, school or ministry.
To date, a total of $426,830 has been awarded to diocesan schools. In its first year in 2017, FFHL tuition assistance totaling $49,372 was given out for the first time to four diocesan schools. In 2018, $76,265 was awarded to six schools. In 2019, $149,980 was awarded to seven schools.
To qualify for the tuition assistance money, the school must receive local parish support of at least $500 per participating Catholic student and must have awarded all of its tuition assistance funds already available for that school year. Schools that do not receive $500 per student in parish support may be considered if there are extenuating financial circumstances that preclude this level of support. Qualifying schools may request funds from the FFHL endowment for participating Catholic students with a financial need determined to be 75 percent or greater of the family’s full tuition and fees responsibility to the school as determined by a third-party tuition assistance company.
The tuition assistance endowment is one of seven endowments funded through the FFHL campaign.
“FFHL funds continue to go to the parishes, capital projects and endowments across the diocese,” said Jim Kelley, diocesan director of development. “FFHL has had a significant impact on the work being done in parishes and in ministries across the diocese that provide services to parishioners.”
— SueAnn Howell, Senior reporter