Endowments & Funds
Honor a Legacy by Giving into an Endowment or Fund
An endowment at Holy Cross School in honor of a graduating class, family member, loved one, or friend offers a lasting and meaningful tribute. It is a powerful way to celebrate a legacy while making a lasting impact on future generations of Holy Cross students.
Endowments An endowment is a gift of assets, such as money or property, intended to provide a perpetual source of income for nonprofit institutions or a cause. The principal gift, known as the corpus, is invested, and a percentage of the generated earnings is used for the institution's purposes, while the rest is reinvested to grow the fund. Endowments provide long-term financial stability, with the goal of perpetual support. An endowment is considered fully endowed when the corpus is $25,000 or higher. Funds are not able to be distributed from an endowment until the corpus reaches a minimum of $25,000.
- Endowed scholarship funds: These funds are used to attract and retain outstanding students at Holy Cross School. Donors may establish broad, mission-based scholarship criteria (such as GPA, financial need, or leadership), but they cannot directly select recipients, earmark funds for athletes, or designate scholarships for relatives. These restrictions exist to protect donor tax deductibility, uphold fairness, and maintain compliance with IRS and LHSAA rules. Endowed scholarships provide critical tuition assistance to deserving students.
- Endowed faculty funds: These provide funds to attract and retain distinguished faculty members and support competitive salaries, benefits, or other types of compensation. This helps Holy Cross School attract top talent and enhance the quality of education for all students.
- General operating support: An unrestricted endowment provides a reliable stream of annual income that an organization can use for any purpose that aligns with its mission. This provides financial stability, allowing an organization to sustain its programs, cover operating expenses, and plan for the future with confidence.
- Maintenance of facilities: A capital improvement endowment can be used to cover the costs of maintaining and renovating an organization's physical facilities. This ensures a building or campus remains in good condition for future use without relying on annual budgets.
- Special programs and projects: Donors can create restricted endowments to fund a specific initiative, such as a new building or program. This guarantees that a program has secure funding for years to come.
Funds
Dedicated funds support strategic priorities of the school, such as special projects, faculty development, and operational needs. These flexible resources allow Holy Cross to respond to opportunities and challenges with agility and purpose.
Dedicated funds, like the endowed funds above, are intended to provide immediate assistance, and it is not encumbered by the procedures of a traditional endowment. These funds may be used as needed or directed, with the principal and any interest being spent down until the original donation is depleted. This offers greater flexibility and a quicker response compared to an endowed fund, which is designed to preserve the principal and distribute only the investment income.
Our advancement office works closely with each donor to honor their intentions and maximize the impact of their gift.
To learn more about establishing a named scholarship or fund at Holy Cross School, please contact our Advancement Office at advancement@hcnola.org or call 504-942-3100.