FYI
One of the drawback of charter schools in Philly is it draws away from the
pool of good students willing to attend parochial schools and make the
financial sacrifice necessary to pay the tuition.
This example of philanthropy should be great for DeSales and the families
who work so hard to send their kids there.
Craig
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Philadelphia Business Journal - September 2, 2010
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Thursday, September 2, 2010, 11:53am EDT
Business group that aids Catholic schools donating up to $4M in Phila.
Philadelphia Business Journal - by _Peter Key_
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Staff Writer
Business Leadership Organized for Catholic Schools said Thursday it will
provide up to $4 million in matching grants to seven Catholic high schools in
the Philadelphia Archdiocese to help them raise money for endowments.
The group is calling its matching-grant program the BLOCS Urban Endowment
initiative and is launching it in conjunction with the start of the 2010-11
school year.
Each school in the program will raise funds independently and BLOCS will
match the money each raises up to the amount BLOCS committed to it.
The money will go into an established endowment fund that will produce
income that will help the schools meet operational needs such as tuition
assistance, school maintenance and academic programming.
BLOCS also will collaborate with the schools on leadership, marketing and
development training.
BLOCS committed:
• $1 million apiece to St. Francis DeSales Catholic School in West
Philadelphia and Mercy Vocational High School in North Philadelphia;
• $750,000 to Drexel Neumann Academy in Chester;
• $500,000 to St. Malachy Catholic School in North Philadelphia;
• And $250,000 apiece to St. Cyril of Alexandria Catholic School in East
Lansdowne; Our Mother of Sorrows/St. Ignatius of Loyola Catholic School in
West Philadelphia; and St. Martin de Porres Catholic School in North
Philadelphia.
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