(LE MARS)–Gehlen Catholic Schools Endowment Fund is marking its 23rd
anniversary with an announcement about the largest gift in its history.
According to information released by the endowment board, an investment of 184-thousand dollars was added to the Eva Waite Tuition Assistance Fund by a donor who wishes to remain anonymous.
The endowment fund is restricted and the income is used only to assist families attending Gehlen Catholic School with their Transitional Kindergarten through 12th Grade School tuition. The money is for tuition that is not covered by the Monsignor Lafferty Tuition Foundation.
During an annual meeting in August, the board noted the largest total donations in one year were received and invested. The total was 238-thousand dollars. Donations are not spent–only the earnings from the invested principal. The earnings support Gehlen Catholic’s operating budget and K-12 student assistance.
Investment earnings of more than 70-thousand dollars were transferred to Gehlen Catholic during the last year.
The board announced a new scholarship opportunity for graduates. A recent substantial donation will restrict its earnings to fund an annual award to help Gehlen Catholic high school seniors with tuition for a technical or trade school.
Michael Ruhland of Le Mars was elected to a three-year term on the endowment board replacing retiring trustee Dr. Wayne Meylor who served 12 years. Ruhland is a certified financial planner and a 1976 graduate of Gehlen Catholic.
Chuck Kellen of Le Mars was re-elected to a three-year term. Board officers re-elected to another year include chairperson Dick Ahlers; Kellen as vice chairperson; and Joe Kessenich as secretary-treasurer.