Frequently Asked Questions
What is Advancement?
“Advancement” is the process of progressing in education. This requires funding in the form of annual operational expenses, special projects, and capital growth. The Office of Advancement at Our Lady of Sorrows is responsible for the overall planning, management, coordination, and execution of a comprehensive fundraising plan. The fundraising plan includes strategies to prospect, cultivate, and manage donations to the annual giving program, endowment giving program, and capital improvement support.
Specifically, the Office of Advancement is responsible for The Saints for Tomorrow Annual Fund, the Monsignor Beahan Endowment Fund, fundraising events such as the Carnival, Auction, Day of Giving, and Fun Run, Alumni Engagement, Volunteer Hour Program, Spirit Wear, Branding Standards, oversight of the Parent Teacher Guild and other initiatives as directed by the School Leadership team.
What is the Saints for Tomorrow Annual Fund?
The Saints for Tomorrow Annual Fund is like our “checking account” that provides funding for this year’s operating costs such as; the gap between paid tuition and the actual cost of educating each student, technology enhancements, tuition assistance, special programs, facility expenses, and upgrades. The fiscal year is from July 1st to June 30th and the SFT Annual Fund is fully spent each year, as dictated by our Non-Profit status.
Quick facts:
- Funds are replenished and allocated each year
- Budgeted, annual financial obligations
- Gifts make an immediate difference
- Short-term funding needs for long-term enhanced opportunity
- Covers the expenses that tuition does not cover
Why is it called Saints for Tomorrow?
How do we raise money for the Saints for Tomorrow Annual Fund?
Generous annual donors and fundraising efforts support the Saints for Tomorrow Annual Fund. We are grateful to our donors for understanding the need to give to the Annual Fund each year. Because of them, tuition has remained manageable and competitive with area Catholic schools. In addition, proceeds from events like the Carnival, Day of Giving, Auction, and Fun Run contribute significantly to the Saints for Tomorrow Annual Fund.
Are donations to the Saints for Tomorrow Annual Fund tax deductible?
In most cases the full value of your gift is tax-deductible. If you choose to purchase a good or service (event tickets, auction items, raffle tickets, or some other item of value) your gift may not be tax deductible. The information on this website is not intended as legal or tax advice. For such advice, please contact your attorney or tax advisor.
How do we fund programs or expenses above and beyond the annual operating budget?
Any funds raised in excess of our annual operating budget are spent to strengthen academic programs, support new efforts, or improve the learning atmosphere. These priorities are set each year by the School Leadership team. You can see our recent improvements on our Capital Giving page.
What improvements have been made over the last few years?
We are very proud to share how your generosity has impacted Our Lady of Sorrows Catholic School.
Annual Report: each year we publish a detailed breakdown of annual income and expenses
Capital Giving: on our website, we outline recent capital improvements
What is the Monsignor Beahan Endowment Fund?
An endowment is an investment fund that allows a portion of the annual return on investment to be used for annual or capital purposes. Once our endowment fund reaches $1,000,000, we would be able to withdraw about $50,000 each year for annual or capital purposes. Gifts to the Monsignor Beahan Education Endowment Fund demonstrate a lasting commitment to the financial viability of Our Lady of Sorrows Catholic School.
As of November 30, 2024, the balance of the Monsignor Beahan Endowment Fund is $114,536.46
We have two school funds: the Saints for Tomorrow Annual Fund and the Monsignor Beahan Endowment Fund. These are the two Where to Give options.
How do we raise money for the Monsignor Beahan Endowment Fund?
The Monsignor Beahan Endowment Fund grows when donors make specific contributions to this fund. This might include “in lieu of flowers” donations upon a passing, a gift from an estate, a specific fundraising initiative, or simply a direct donation from a donor. You can support this anytime at olsorrows.com/donate and choose the Endowment Fund under Designation.
What is the purpose of the Monsignor Beahan Endowment Fund?
Once our endowment fund reaches $1,000,000, we would be able to withdraw about $50,000 each year for annual or capital purposes. It would provide us with a very sustainable source of annual income. We would love to reach this amount over the next 10 years in time for our Centennial Celebration in 2035. We invite you to consider how you can help us achieve this goal.
Are there other ways to give to Our Lady of Sorrows Catholic School?
Yes, there are many ways to give to Our Lady of Sorrows that might be very beneficial to your financial life goals. Please visit our Ways to Give webpage to learn more.
If you would like to become a regular donor and include OLS in your budget, please consider a recurring gift. These can be set up on our online donation page at www.olsorrows.com/donate. Simply change the donation schedule to be weekly, monthly or quarterly.
The best asset to us is an informed community. To learn more, please contact the Advancement Office at 248-476-0977 or by emailing Erin Somerville, Advancement Director, at [email protected]