December 2004

In recognition of the application of accounting standards recommended to Cardinal Newman High School as a result of the recent audit by Armanino-McKenna, all annual scholarship applications will be processed in the spring of each year. 

We will continue to hold events to acknowledge our student scholars and to thank our generous donors, we will announce awards each year as part of the financial aid and scholarship cycle employed by our peer institutions.  Therefore, some of the awards acknowledged on December 15, 2004 will be granted again in the coming spring.

The Cardinal Newman High School Office of Institutional Advancement is instituting a program to display all endowed scholarship balances as well as the name(s) of each year's recipient(s).  This will allow donors to monitor the application of their endowed funds as well as encourage recipients to personally thank the benefactors who have generously provided support.

Although investment vehicles used to hold endowed funds provide various rates of return, it is the intention of Cardinal Newman High School's Office of Institutional Advancement to target annual awards of 5% of an endowed fund's beginning balance.  If interest and growth fails to achieve a gain of 5%, any difference will be made up out of ordinary operating funds.  If interest and growth exceeds a gain of 5%, the difference will be added back to the principal.  In this manner the enrollment and financial aid committees can be assured of a predictable amount for scholarships and financial aid.  In times of growth Cardinal Newman High School's Office of Institutional Advancement will be able to add to the endowed principal balances.

One of our fine students recently addressed the board of directors with an inspirational message.  He described how Cardinal Newman High School helped him experience the declared mission of developing his mind, spirit, and body as he, himself, helped his teammates achieve a perfect soccer season.  We are indeed developing fine young men.  Your encouragement, prayers, and financial support allow us to experience this success.