|
Subject: |
[StMarySchool]
Endowment Fund for SMS |
|
Date: |
11/21/2005
8:57:51 P.M. Eastern Standard Time |
|
From: |
JLALIPIT@DMCI.NET |
|
|
|
|
|
|
|
|
Sent from
the Internet
(Details)
|
|
Endowment
according to the American Heritage Dictionary is defined as funds or
property donated to an institution, individual or group as a source of
income.
A brief
history is appropriate for the benefit of the Alumni and Friends of St.
Mary School in Sagada who have not heard how the Endowment Fund was
started and for what reason.
When Mr.
Frank Longid was alive trying to keep St. Mary School "Alive", I sent
money to SMS as seed money for an Endowment Fund but Frank requested
that the money I sent be used for the immediate needs of the school
which I consented to knowing the critical financial status of SMS.
Subsequently, I contacted Inez'55 to help me contact some of our Class
1955 who may be willing to start an Endowment Fund for SMS. We
contacted Dr. Florence Fiagoy Dulnuan; Dr. Fred Zabala; Dr. Andrew
Bacdayan, Mrs. Fedila Salvador Ferrer; Ms. Alice Egsaen; Mr. Henry Bawaan;
Mrs. Betty Buyagawan Kurzdorfer (Germany). One did not pledge out of the
9 of us with initial pledge of $600.00 each payable in 3 years. I
pledged $3000.00 to start it and I believe we came up close to $7000 up
to date.
Our fervent
hope then was to stimulate other classes, alumni. and friends to do
likewise and certainly many donated to the Frank memorial intended for
the Endowment Fund. This may look like a separate fund but it should
not be. It is very common to see a list of donors to a certain Endowment
Fund (Common Fund) whether as corporate, individual, or group donors.
Our Class
1955 agreed that the money (Principal) was not going to be spent but only
the interest income upon approval of the officers / BOT and this was
affirmed during our memorable SMS Meeting last June in Edwin's and Mia's
mountain top palace (West Virginia).
I have been
quiet recently about the Endowment Fund Campaign due to the upsurge of
funding for the three science labs, Computer Dept, Stapleton Building,
and now the Library and the Sports Complex.
With the
unprecedented success of Phases 1 & 2, including the Classroom
renovations which we solicited funds from generous donors, we seem to be
ahead of schedule which is laudable, but the long term sustenance of
what we started to build will depend on ongoing donations particularly
for the Endowment Fund.
From my
point of view, the Pledge System is the easiest and cheapest way of
soliciting knowing that we are all scattered and quite difficult to
arrange functions to raise funds and sometimes more expensive to do
after considering the time involved, expenses, etc.
Our son
graduated from Cranbrook School in Bloomfield Hills, Michigan in 1992,
and we still get yearly solicitations from the school and so many other
Foundations and Agencies asking the same. In a small town, it is hard
to say NO. |
