As always, we begin a new Annual Fund year by offering our sincere and heartfelt thanks for all that the members of our community do for Regis.
The 2014 and 2015 fiscal years brought to a close a remarkable period for the school: $42 million in pledges to Strong to Endure and the completion of a series of memorable Centennial celebrations, fitting capstones to Father Phil Judge’s decade as president of Regis.
We are now in the capable hands of Jim Croghan, S.J., our interim leader. For the coming year, Fr. Croghan is using the theme of Second Century, Second Founding to examine the Regis mission in all its aspects and question how we serve it in our second century.
In financial terms, Regis’s alumni and parents have assumed the role of the second founding family of the school. Their ongoing contributions can be neatly summarized:
Giving to the Annual Fund is at standout levels for an institution of our size and scope. For the current year, we hope to raise $6 million in annual gifts for the first time.
But the Regis Fund, despite its growth in recent years, remains undercapitalized. The balance stood at $74 million at June 30, but our current rate of withdrawals is beyond what is actuarially sound. The Fund balance should be $125 million today to permit prudent annual withdrawals.
Many alumni and parents are surprised to learn that, while the Foundress and her family supported the school for sixty years, Regis was never provided an endowment. The Regis Fund is the product of three capital campaigns over the past twenty years, along with a multitude of estate bequests.
Providing Regis with the financial “second founding” it deserves will require we maintain efforts to secure significant capital gifts from alumni, parents, and friends.
We are confident that your continued generosity, in tandem with prudent expense management and sound stewardship of our portfolio, will provide Regis with the financial security it deserves.
On behalf of the faculty, staff, and most of all, our present and future students, thank you for all you do for Regis.
By James Buggy
Vice President for Development