The Assumption Catholic School Foundation was originally established in 1985, then organized in May 2004. It focuses on the long-term needs of Assumption Catholic School. The Foundation is a nonprofit organization, independent of school operations and is governed by a Board of Directors pursuant to bylaws established by the Board. The Board consists of a minimum of four members and is independent of Assumption Catholic School. We are thrilled to announce that as of December 2024, the Foundation’s assets have surpassed $1.0 million! This significant milestone has been made possible through the generous contributions of our supporters. For the 2024-25 school year, the Foundation received $66,158 in donations from our dedicated community. Over the past decade, we have successfully increased our assets from $350,000 to almost $1.0 million.
The mission of the Foundation is to provide the school with an emergency fund, while also providing scholarships to reduce tuition. Funding for these scholarships comes from annual distributions, calculated at 4% of the average year-end balance of our assets over the past three years. This year, that distribution is allowing us to offset tuition for 225 students.
The Foundation can also provide emergency funding to the school if necessary but will not allow the fund to drop below $500,000, but it is not intended to supplement any annual operating shortfalls. Any uses for emergency situations must be carefully considered and approved by the Board before funds can be utilized for such purposes.
Foundation Assets are professionally managed by Mercer Investments, the same firm who manages the Archdiocese of Seattle’s Fulcrum Foundation. This provides maximum assurance to our donors that the highest fiduciary standards are in place. This ensures prudent investments are being made to preserve and grow the fund balance while keeping pace with inflation.
The Foundation asks for those who support Catholic education in Whatcom County to prayerfully consider giving to the Foundation. Some ways to consider are one-time donations, annual pledges, donations from Required Minimum Distributions of retirement funds, stock donations, and estate planning. Foundation Board Members are available to meet with you individually or in small groups to discuss our goals and objectives. We can also provide assistance in ideas on how you may wish to contribute.
Your prayers and donations will ensure the long-term success of Catholic Education in Whatcom County.
Thank you for your continued support!
Current Board Members:
E. Omar Ramos – Principal
Katherine Deets – Chair
Bill Zang
Basilio Rodriguez Grueso
Joseph Correa
Brian Zender
