Ways to Give – Annual, Restricted, and Endowment
Providence has been blessed with private support from many different sources since its founding in 1951. Our need is based on the simple fact that tuition, which the school attempts to keep as affordable as possible, does not cover the costs of educating a student. Consequently, the Advancement Office engages in a variety of fund raising activities to help maintain a balanced budget each year and on occasion to seek additional funds for necessary capital improvement projects through capital campaigns.
To ensure financial stability down the road, funds also are sought through gifts which provide tax incentives and take effect in the future, usually referred to as planned gifts. Here are brief descriptions of the ways to help Providence continue in our educational mission.
Unrestricted Annual Gifts
Each year, Providence conducts the Annual Student Assistance Program (ASAP) to generate funds for student financial assistance. Each fall, we host the ASAP Appreciation Dinner that features a speaker and an opportunity to make a commitment to the program. Gifts to ASAP may be made at any time, and can take the form of cash, checks, or by clicking here for a secure credit card transaction. Donors to ASAP receive recognition each year in the Annual Report.
Two increasingly popular ways to support Providence in the effort to make financial assistance available to those families that qualify are through the Blue Angel Tuition Grant Program and through Class Endowment Funds.
Blue Angel Tuition Grant Program
Blue Angel donors have been generously helping families with the greatest need to receive a Providence education for the past several years. Donors are asked to consider a contribution that will cover all or most of the tuition charges for a family in a given year. The donor has the option of actively engaging in a mentoring relationship with the student if more than 50 percent of the tuition is covered. Donors may also choose to remain anonymous, if they wish. Contributions to the Blue Angel Program may be paid in installments over the course of the year. For more information on becoming a Blue Angel, contact the Advancement Office at firstname.lastname@example.org.
Class Endowment Funds
Gifts to an endowment are permanent investments in the future of Providence and help secure the financial stability of the school. The original value of the gift is multiplied as it generates income without invading the principal amount contributed. Providence currently has 23 named permanent endowment funds and 27 permanent Class Endowment Funds. Remaining classes are encouraged to work toward the establishment of a permanently endowed fund, which requires a minimum of $5,000 in conjunction with class reunion activities. The majority of endowed funds provide tuition assistance for families that qualify for it.
If you would like information on setting up or contributing to an existing Class Endowment Fund for your class, contact Ryan Miller ’99 in the Advancement Office at email@example.com.
The Saint Mother Theodore Guerin Heritage Society
Saint Mother Theodore has been a source of inspiration for Providence since our founding in 1951. As we look forward and plan for the school in the years to come, we want to commemorate her example as a way to acknowledge our supporters who demonstrate faith in the future of our Catholic education tradition. The Saint Mother Theodore Guerin Heritage Society formally recognizes any member of the Providence family who declares an intention to make a financial provision for Providence in his or her estate plans.
Any one of the following planned gift arrangements will qualify for membership in the Mother Theodore Guerin Heritage Society:
- Including a bequest for Providence in your last will and testament;
- Making Providence the owner and beneficiary of a new or existing whole life insurance policy, or simply a beneficiary of an insurance policy or Individual Retirement Account (IRA);
- Establishing a planned gift arrangement that takes effect after your lifetime while providing income for life;
- Establishing a planned gift arrangement that reduces your estate tax liability while generating an immediate gift to Providence for a term of years.
Please contact Tony Perito in the Advancement Office (firstname.lastname@example.org, or 812-945-3350) if you have any questions about the Society and how you qualify.