CHICAGO (WBBM NEWSRADIO) -- Thirty of the neediest Catholic schools in the Chicago archdiocese are getting a big financial boost from the Big Shoulders Fund.
Big Shoulders Fund announced Tuesday a nearly $50 million 10-year philanthropic commitment to 30 of its highest need schools, enabling them to remain open and viable, and to continue enriching their local communities.
Big Shoulders Fund Co-Chairman Monsignor Ken Velo said the money is going to be pumped over 10 years into 28 Catholic schools in the city and schools in Oak Park and Waukegan.
"This is a historic day for Big Shoulders and the children of our inner city schools," he said.
"Some may look on this as a grant, or a donation, or a gift, but I think we've been looking at it as an investment, an investment in the children of the city who are in our parochial schools."
Some of the money, Velo said, will be used to help principals achieve ambitious visions for their students and schools.
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"We are honored to be able to provide this historic level of investment to help strengthen communities throughout the greater-Chicago area," said Founding Chairman and current Co-Chairman, James J. O'Connor. "Our own research has shown that alumni of our schools go on to vote, study, work, and volunteer at rates higher than their peers, becoming the citizens and neighbors that make our communities and Chicago a better place for all of us to live. Additionally, research has shown that when our schools close, communities suffer."
The monsignor said the initial $5 million comes from real estate investment executive John Schreiber and his wife Kathy.
"Kathy and I are proud to make the initial investment in this extension of Big Shoulders Fund programming to take on a more operational role in their schools. This accomplishes one of the primary areas of our philanthropy – provide financially poor children who are rich in talent, passion and hard work a pathway toward a brighter future," said Big Shoulders Fund Executive Committee Member John Schreiber, in a statement.
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Under the agreement, the 30 schools will remain part of the Archdiocese of Chicago and will continue to receive financial support from the Archdiocese, while enabling the Archdiocese to reduce its annual spending on these schools by approximately 50 percent.
Big Shoulders Fund will be launching a campaign to raise additional funds.
The schools included in this agreement, and the community area they serve, are:
- Academy of St. Benedict the African (West Englewood)
- Augustus Tolton Academy (Park Manor)
- Children of Peace School (Near West Side)
- Epiphany Catholic School (South Lawndale)
- Holy Angels School (Grand Boulevard)
- Leo Catholic High School (Auburn Gresham)
- Maternity B.V.M. School (Humboldt Park)
- Most Blessed Trinity Academy (Waukegan)
- Our Lady of Grace School (Logan Square)
- Our Lady of Guadalupe School (South Chicago)
- Our Lady of Tepeyac Elementary School (South Lawndale)
- Our Lady of Tepeyac High School (South Lawndale)
- Pope John Paul II Catholic School (Brighton Park)
- Queen of the Universe School (West Lawn)
- St. Ailbe School (Calumet Heights)
- St. Angela School (Austin)
- St. Ann School (Lower West Side)
- St. Catherine of Siena/St. Lucy School (Austin / Oak Park)
- St. Ethelreda School (Auburn Gresham)
- St. Gall School (Gage Park)
- St. Genevieve School (Belmont Cragin)
- St. John de la Salle Catholic Academy (Roseland)
- St. Malachy School (Near West Side)
- St. Margaret of Scotland School (Washington Heights)
- St. Mary Star of The Sea School (West Lawn)
- St. Nicholas of Tolentine School (West Lawn)
- St. Philip Neri School (South Shore)
- St. Pius V School (Lower West Side)
- St. Sylvester School (Logan Square)
- Visitation Catholic School (Back of the Yards / Englewood)
