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Fulcrum Foundation Announces Successful Completion of $40 Million Capital Campaign

Dec 31, 1969

Annual Celebration of Light event raises additional $800,000

Funds support grade and high school scholarships throughout Western Washington

Seattle, WA – February 17, 2009 – In a troubling economy that many feel rivals the Great Depression, it is a sad reality that education, the one surefire way to promote hope for a successful future for our children, is among the first casualties; the daily news is filled with school closures. But now, thanks to an innovative organization and a supportive community, the opportunity for a quality Catholic education in Western Washington is alive and well.

The Fulcrum Foundation, one of the largest supporters and funders of Catholic education in the United States, today announced the successful completion of its four-year, $40 million dollar capital campaign. Fulcrum also announced that its annual Celebration of Light dinner and fundraising event raised more than $800,000.

The Fulcrum Foundation will use the funds to provide tuition assistance to students seeking admission to schools in the Archdiocese of Seattle, block grants to schools in need, and assistance for initiatives that promote academic excellence and faith formation. The Archdiocese of Seattle encompasses all of Western Washington.

“Our mission at the Fulcrum Foundation is to make an excellent education affordable to all students regardless of need,” said Joe Womac, executive director of the Fulcrum Foundation. “Through the generosity of our donor community, we will have access to funds that will sustain our mission for many years to come. These are difficult times for many, and it is more important than ever for us to offer students the benefits of a wonderful education that can help them throughout their lives.”

Founded in 2002 as one of the nation’s first organizations to promote and support Catholic education, Fulcrum has distributed more than $11 million dollars in tuition and school assistance including more than 6,500 tuition assistance grants to families with adjusted incomes averaging $24,000. In 2008, Fulcrum provided tuition grants to 1,100 students. Tuition grants are given on the basis of need, not on the basis of religion or cultural background.

Capital Campaign raises $43 million

The Fulcrum Foundation’s capital campaign began in 2004 and concluded on December 31, 2008. The goals of the campaign were to build a tuition assistance endowment, build an endowment for the Schools in Need Program, and to provide immediate bridge funding to schools and students.

The campaign, which was the largest fundraising campaign for a single cause in the history of the Archdiocese of Seattle, raised a total of $43 million. There were more than 2,700 donors and one third of the total, more than $13 million, came from non-Catholic individuals and foundations.

“It’s clear that many in our community understand and value the importance of a strong Catholic education program,” said Womac. “We fund our programs through both immediate needs funding and endowment revenue. It is essential for the long-term health of our tuition assistance program to build endowments as a stable source of revenue. When you offer a child a grant in 1st grade, you are essentially committed to supporting them through 12th grade. Under those circumstances, it is vital that we use both income and earnings as sources of funding.”

The Fulcrum Foundation raised approximately one third of the capital campaign funds to be spent immediately for direct school and student aid. The final two thirds were used to create endowments that will generate income in perpetuity for tuition and school assistance.

Celebration of Light

The Foundation’s primary fundraising event is the annual Celebration of Light dinner. The seventh annual event was on January 30th at the Sheraton Hotel in Seattle. More than 1,130 guests attended and the event was underwritten by $200,000 in business and private donations. The event is among the largest fundraising events in the region and the largest fundraiser for Catholic education in the country.

This year’s event raised approximately $800,000.

During the Celebration of Light dinner, distinguished guests are honored for their long-time support and dedication to Catholic education in the Northwest. This year's honorees included Doug and Kristen Strauss, the founders of Gloria’s Angels Foundation; Artee Young, Ph.D., J.D., the executive director of The Evergreen State College’s Tacoma campus; Dr. Frank and Mary Senecal, the founders of the Northwest CARE Foundation; and Thayne McCulloh, Ph.D., vice president at Gonzaga University.

About the Fulcrum Foundation

The Fulcrum Foundation was founded in 2002 to keep Catholic schools open and inclusive of all who desire an education based in the Catholic faith. In six short years of existence, the Fulcrum Foundation has awarded grants of more than $11 million for tuition assistance and direct aid grants to schools in the diocese.

Western Washington Catholic Schools serve 23,315 students. Currently, there are 70 schools in the Archdiocese; two new high schools will open in 2009. The Archdiocese spans throughout western Washington, west of the Cascades, to the north and South and Western borders of the state.