THE FOUNDATION’S LEADERSHIP
The Foundation was created by, and is managed by, members of the faith community of Christ the King Parish.
The Foundation’s operations, investments, and fund-raising are managed by a nine-member Board of Directors who serve three-year staggered terms. Upon completion of their Board service, the former directors continue to serve as Members of the Foundation.
Among other things, it is the responsibility of the Members to approve the Foundation’s annual endowment to Christ the King School as well as any changes to the Foundation’s investment policy. Since 1993, nearly one hundred Christ the King parishioners have served, and continue to serve, as Directors and Members of the Foundation. The Foundation is truly a community institution. For a complete list of the current Board of Directors and Members, click here.
THE ANNUAL ENDOWMENT
Upon approval by the Members, the Foundation annually endows 5% of its assets to Christ the King School. As the Foundation’s assets have grown, its annual endowment has grown as well. Over the course of 30 years, the Foundation has donated approximately $1.3 Million to Christ the King School. In 2021 alone, the Foundation’s endowment exceeded $95,000. The Foundation’s endowment has allowed the School to expand its staffing and make significant improvements to its infrastructure. In very tangible ways, the Foundation has aided Christ the King School in maintaining the highest standards of Catholic education.
Of equal importance, the Foundation’s financial subsidy allows the School to avoid or minimize tuition increases. The financial pressures on Catholic schools in today’s economy are well-recognized. The Foundation’s endowment is designed to make Catholic education affordable to everyone in the Christ the King community. With the support of our generous donors, Christ the King School will remain an exceptional and affordable Catholic grade school for generations to come.
THE FOUNDATION’S INVESTMENTS
In order to fulfill its mission, the Foundation depends upon the generosity of the Christ the King faith community. Year in and year out, the Christ the King community has provided unstinting financial support. Thanks to our generous donors, over the course of nearly 30 years the Foundation’s assets have grown from a modest amount to a very significant array of investments.
As the chart reflects, the Foundation is currently managing $2 Million in investments. In 2016, the Foundation made an extraordinary donation of $500,000 to the School as seed money for the construction of the Walsh Center. Over the following 5 years, the Foundation recouped these funds and has set $3 Million as its new investment target.
hereTexThe Foundation follows a conservative investment policy established by the Members and supervised by its Investment Advisory Committee. The Foundation’s investments are divided between equity and fixed income investments in a manner designed to achieve steady appreciation without excessive risk.
THE FOUNDATION BY-LAWS
Download Foundation By-Laws here
THE FOUNDATION TAX INFORMATION
Download Foundation 501c3 letter here
THE FOUNDATION AND THE FUTURE
Christ the King is a unique community with deep roots in North Beverly and a long history of community service and Catholic ministry. The Foundation’s success reflects the vibrancy of our community. If the past is a prelude, the Foundation, and the School it serves will continue to grow, serve, and enhance our community.
To our steadfast supporters, we express our deep gratitude. To those who have not yet contributed to the Foundation, we ask you to consider donating today. We have demonstrated that working together, there is nothing we cannot accomplish for the betterment of our community. We owe our children and our neighbors nothing less.
Foundation History Video
Current Board Members
Mary Kate Heywood
Tristan Karnezis Angus
Melissa Pecano Jones