Endowment Fund [EF] Build-up Project

Endowment Fund [EF] Build-up Project.


Project Description and Rationale of an Endowment Fund. The SMS Endowment Fund Build-up project was initiated to generate an investment fund, the interest income of which will be used to to help defray the annual deficit of  St. Mary's School, Sagada.  The initial goal is to raise 15 Million Philippine Pesos [approximately US$ 300,000 at an exchange rate of US$1 = 50 Philippine Pesos], to be invested  in relatively high yielding but safe money market instruments such as government securities, mutual funds, bonds and stocks. If enough funds were raised and professionally managed, the endowment fund offers the best solution to the yearly funding shortfall of SMS's Operating Budget amounting to over P1,000,000 [or US$20,000] annually.
 

St. Mary's Scool of Sagada
Operating Budget: 2005 - 2006

Income: Tution Fees P340,000
  Govt. Subsidy P680,000
  Total Income P1,020,000
Expenses: Salaries, Benefits Other Supplies P2,500,000
Deficit   P1,080,000 [or about US$20,000 at
an Exchange rate of P50:$1.00

With the facilities and curriculum improvements  planned and  now being implemented by the new administrators of St. Mary’s School of Sagada [SMSS], the school is confident that it will eventually produce a quality of  education  coveted by students and parents such that tuition fees will no longer be a major hindrance to the school's enrollment target.

However, in order to attain a self-supporting status through tuition fees, the school may have to limit its enrollment to those who could afford its tuition fees. Based mainly on a purely financial cost-benefit analysis, the resulting tuition fee to acquire such quality education can be relatively steep for most indigenous families in the Philippine Cordilleras.  

This will defeat the very reason for the school's existence - to provide affordable quality education to an indigenous people long been categorized as among the poorest of the poor of Philippine society.

Thus, even as the school is fast achieving capacity to become self sufficient, it has to look for ways and means of bridging the gap between the true cost of quality education and a subsidized quality education.  It has identified an endowment fund [aside from a scholarship and faculty sponsorship program] as the best means of accomplishing this.

Status. An Endowment - Grants & Aids Committee has been formed to lead and coordinate the Fund Raising Campaign. The nucleus of the committee members comes from Class 1955 who pioneered this project as early as the start of the Save SMS Movement. See


To read more on the early beginnings of the SMS endowment fund project, you are welcome to surf the following updates by Inez K Saley:

The Endowment Committee is currently drafting a brochure which they plan to send to prospective donors.


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