What is the Goretti Fund?
Originally established in 1973, the Goretti Fund is a separate and distinct 501(c) (3) corporation from St. Maria Goretti High School. The Goretti Fund founders maintained independence to protect endowment assets from being used to support school operations. Under the bylaws, the Goretti Fund is managed by a five to nine member Board of Trustees, with no more than forty percent representation by SMGHS Board members. The Goretti Fund Board of Trustees is charged with distributing income and releasing principal for specified purposes. Yearly distribution from the Goretti Fund to St. Maria Goretti High School has been set at five percent of the fund’s market value as of Dec. 31 of each year. The Goretti Fund has a current market value of approximately $975,000 providing an annual distribution to SMGHS of over $30,000 while allowing the corpus to continue to grow.
Waltersdorf-Henson Endowment Challenge
In the Fall of 2010, Goretti reached an incredible milestone thanks to the support of the entire Goretti Family and local community. From June 2005 through November 2010, Goretti raised $255,000 as part of the Waltersdorf-Henson Endowment Challenge. The school was then provided with a one hundred percent match from the John and Peg Waltersdorf and Richard Henson Foundation, for a total of $510,000 raised through this unique opportunity.
The $510,000 raised through the Waltersdorf-Henson challenge provides a steady, yearly income stream to Goretti without ever depleting the corpus. Combined with the current Goretti Fund, the school now has a permanent endowment approaching one million dollars. Put simply, your gift to the endowment continues to grow and benefit Goretti year after year after year.
We are sincerely grateful for everyone’s dedication, hard work, and support, which helped SMGHS reach this goal!