The Assumption Catholic School Foundation was organized and established in May 2004, focusing 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 five members and is independent of Assumption Catholic School. The Foundation has been very successful through the generous contributions of many Whatcom County individuals as the fund balance at the end of the 2020-2021 school year exceeded $800,000.
The major purpose of the Foundation is to support Catholic education in Whatcom County by providing tuition assistance to those in need with an annual contribution to the school. It can provide emergency funding to the school if necessary, but will not allow the fund to drop below $500,000. 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. The Foundation currently distributes approximately 4% of the three-year average, year-end balance to the school each year. For example, if the average annual balance of the fund over the past three years was $800,000 the school would receive $32,000 that year.
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:
Dan Anderson – Principal
Katherine Deets – Chair