Report on Endowed Scholarships

Report on endowed scholarships

As of June 30, 2015

Saint Peter’s Prep New Jersey’s Jesuit High School Since 1872

“In a very tangible and permanent way, these scholarships honor or memorialize the individual or entity for whom the scholarship has been named.�

Saint Peter’s Prep New Jersey’s Jesuit High School Since 1872

Office of the President

November 2015 Dear Friends of Prep, Since the earliest days of the school’s founding, one of our institutional goals has been to ensure that qualified young men are able to benefit from Prep’s Jesuit education, regardless of their economic circumstances. Fortunately, this lofty (and often challenging) goal continues to be supported by a combination of strong stewardship of Prep’s financial resources and the ongoing generosity of alumni, parents and friends.

Among the bedrock components of our ability to provide adequate financial assistance is the school’s permanent endowment, which as of June 30, 2015, had assets totaling $23,200,000. While the endowment does contain a few special donor-directed components, a vast majority of the funds are restricted toward supporting need-based financial aid, and among these are the 141 “named scholarships” that are profiled in this booklet.

Annually, all of Prep’s endowed scholarships support one or more recipients whose families have completed the school’s Financial Aid Application, and who have demonstrated “quantifiable financial need” through that process. Over the decades, these recipients have distinguished themselves during their four years at Grand & Warren, and beyond. Thus, while the proceeds of these scholarships have definitively helped countless individual students, they also have helped create a student body consisting of talented young men from varied economic backgrounds—very much in the Jesuit tradition worldwide.

In most cases, Prep’s endowed scholarships have been funded through gifts from one or more alumni, parents or friends, or by corporations or foundations. A few scholarships were the result of bequests. In all cases, the scholarships’ current “market value” represents the growth of the broader endowment in the years since each individual scholarship was established. In essence, the donors have entrusted to us a gift to help the young men of Prep—and we have exercised good stewardship to keep the fund robust, so that it is there for today’s students and for generations to come.

Most significantly, in a very tangible and permanent way, these scholarships honor or memorialize the individual or entity for whom the scholarship has been named. Thus, the scholarships’ supporters not only help the men of Prep, but also serve as an example of what can happen when you truly become a “man for others.”

Prep is extremely grateful for this generosity!

Sincerely,

Rev. Kenneth J. Boller, S.J. President

144 Grand Street | Jersey City, NJ 07302 | www.spprep.org | T: 201-547-6410 201-547-2308 | F: 201-547-6421 | E: president@spprep.org communications@spprep.org

9/11 – Babbio

Prep’s Endowed Scholarships As part of Saint Peter’s Prep’s permanent endowment, the following “named scholarships” were created prior to June 30, 2015.

Individually and as a group, they serve the designated purpose of providing financial assistance to the families of talented young men who otherwise would not be able to benefit from Prep’s Jesuit education. This comprehensive list represents all scholarships that have a market value of at least $25,000. A list of permanently endowed scholarships whose market value is less than $25,000 appears immediately following the last scholarship description at the conclusion of this list.

Please note that the Market Value represents the audited value of the scholarship at the conclusion of Prep’s 2015 fiscal year (June 30, 2015).

9/11 Scholarship #$25,000 / $45,648 |

+

Recipient Requirements: Preference to the son of a parent who serves in the Police or Fire Department.

Alba Scholarship – Founded by Ms. Ana Garcia # $31,478 / $37,355 |

+

Recipient Requirements: Granted at the end of junior year to a rising senior who has demonstrated a passion for learning Spanish.

This scholarship was established in 2002 through a grant from the New York Stock Exchange (NYSE) Foundation, as a way of honoring the heroism of the first responders on 9/11.

This scholarship was established in 1997 by Spanish teacher Ana Garcia, as a way of acknowledging a deserving upperclassman who excels in the study of Spanish. It has been funded over the years through gifts from Ana, her friends and her former students.

William J. Ahearn, ’75, P’01 Scholarship

Alexandria & Fred Arrigotti Scholarship

# $31,378 / $34,096 |

# $102,975 / $188,022 |

+

This scholarship was established in 2012 through memorial gifts received after the untimely passing of Bill Ahearn, ’75, while he was serving as chairman of Prep’s board of trustees. Bill stood out as one of our most admired alumni, noted as much for his engaging personality and dedication to Prep’s Jesuit values as for his intelligence, leadership, service and strategic vision. His wife Seton provided the scholarship’s founding gift.

+

This scholarship was established in 1999 through a bequest from the estate of Alexandria Arrigotti.

Emma & Lawrence Babbio, P’62 Scholarship # $700,000 / $967,396

++++++++ (2 per class year) Recipient Requirements: Jersey City resident.

This scholarship was established in 2002 by Larry Babbio, ’62, who continues to support its growth as a tribute to his parents. Their support of Larry’s Prep education provided the underpinning for his successful career as a corporate leader and strategic planner in the telecommunications field.

2 SAINT PETER’S PREP n report on endowed scholarships

Barry – Casey

Richard C. Barry, ’63 Scholarship

Alfred J. Bundies Scholarship

# $25,000 / $33,360 |

# $65,000 / $118,684 |

+

+

Recipient Requirements: Preference to the son of a parent who serves in the Police or Fire Department.

Recipient Requirements: Preference to a graduate of St. Joseph’s School, Jersey City.

This scholarship was established in 2009 through a bequest from the estate of Richard Barry, ’63.

This scholarship was established in 2002 by Charlie Trainor, ’56, to honor the memory of Al Bundies, who for decades was instrumental in the creation and growth of youth programs in Jersey City.

Howard Bell, ’64 Scholarship # $120,000 / $219,108 |

+

This scholarship was established in 1999 by Bill Bell, ’57, in honor of his brother, Howard, ’64.

Bergin/McGlynn Scholarship # $50,601 / $92,392 |

+

This scholarship was established in 2001 by John Bergin, ’50, in honor of the Bergin and McGlynn families.

Braddock-Soto Scholarship # $468,481 / $855,400 |

++++ (1 per class year)

Recipient Requirements: Preference to Hispanic candidates.

This scholarship was established in 2001 by Dr. & Mrs. Joe Braddock, ’47, in honor of the Braddock and Soto families.

Deborah S. & Gerald R. Brill, ’57 Scholarship # $85,000 / $90,775 |

+

This scholarship was established in 2008 and receives ongoing support from Gerry Brill, ’57.

Francis R. Burde, ’42 Scholarship # $46,577 / $85,045 |

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This scholarship was established in 2003 through a bequest from the estate of Francis Burde, ’42.

Carpe Diem Scholarship # $361,025 / $520,663 |

-

This scholarship was established in the early-to-mid 2000s through general endowment gifts to Prep’s Carpe Diem Campaign at that time.

John J. (Jack) Casey Scholarship # $138,163 / $240,753 |

++

This scholarship was established in memory of Jack Casey in 1999 by his many students and friends, to honor his career at Prep (1965-99) as an inspiring English teacher and director of many Prep plays. Lead gifts were provided by a bequest from the estate of Jack Casey and from Keith Wall, ’86.

John E. Browning, S.J., ’46 Scholarship # $174,833 / $306,486 |

++++

Recipient Requirements: HAP graduates.

This scholarship was established in memory of Fr. John Browning, ’46 in 1998, by his friends and former students.

It honors his many decades of service to Prep and, in particular, his role as a founder, and then director, of Prep’s Higher Achievement Program (HAP).

Key to symbols

#$25,000 / $45,648 Total gifts / Market value as of June 30, 2015 Annual Scholarship recipients:

Number of Partial

Number of Full

Numerous partial (varies by year)

Note: All scholarship recipients must demonstrate quantifiable financial need; any requirements listed are in addition to this basic requirement.

report on endowed scholarships n SAINT PETER’S PREP 3

Caulfield – Dolan

Edmund J. Caulfield, ’37, P’71 Scholarship # $52,001 / $81,231 |

+

This scholarship was established in 1997 through memorial gifts by the family and friends of Edmund Caulfield, ’37, a most loyal Prep class chairman for much of his adult life.

Mary Beth & Jack Caulfield, ’71, P’00,’03 provided the lead gift and continue to support the scholarship’s growth.

Class of 1957 Scholarship # $114,221/126,023 |

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This scholarship was established in 2007 as a gift to Prep from members of the Class of ’57, in celebration of their 50th reunion. Gerry Brill, ’57 provided the lead gift.

Class of ’58 Scholarship # $56,960 / $81,183 |

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This scholarship was established in 2008 as a gift to Prep from members of the Class of ’58, in celebration of their 50th reunion. Classmates Dennis Bier and Ed Burke provided the lead gifts.

Class of ’62 Scholarship # $153,351 / $157,554 |

Joseph E. Colford, Jr., ’38, P’68,’71,’73,’74,’81 Scholarship # $56,281 / $75,280 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 2004 through memorial gifts by the family and friends of Joe Colford, ’38, with primary support from Joe’s six sons, who continue to support its growth.

Cregan-Watters Class of ’52 Scholarship # $31,748 / $47,349 |

+

This scholarship was established in 2002 as a 50th reunion gift by classmates of the two Jesuits who were members of the Prep Class of ’52 – Bob Cregan, S.J., and Bill Watters, S.J. – in honor of their decades of service to the Society of Jesus.

John R. Crowe, ’62, P’91,’94 Scholarship # $88,422 / $140,465 |

+

This scholarship was established in 2001 through memorial gifts by the family and friends of John Crowe, ’62, who died during the attacks of 9/11.

+

This scholarship was established in 2012 as a gift to Prep from members of the Class of ’62, in celebration of their 50th reunion. Bob Dempsey, ’62 provided the lead gift.

John J. Cunningham, D.D.S., ’26 Scholarship

Class of ’64 Scholarship

Julia & Sam DiFeo, ’32, P’63,’66 Scholarship

# $108,265 / $108,856 |

# $174,995 / $295,242 |

+

This scholarship was established in 2014 as a gift to Prep from members of the Class of ’64, in celebration of their 50th reunion. Classmates George Duva, Kaz Herchold, Brian McCarthy and Paul McGovern provided the lead gifts.

Gertrude & Robert Cobban, P’50 Scholarship # $136,755 / $148,776 |

+

# $178,137 / $325,261 |

++

This scholarship was established in 1992 by Dr. Cunningham.

++

Recipient Requirements: Jersey City resident.

This scholarship was established in 1999 through a lead gift by Sam DiFeo, ’32, and it received additional support in the following decade through memorial gifts by family and friends after the passing of Sam and (later) his wife Julia.

Dolan Family Scholarship # $36,724 / $60,792 |

+

Recipient Requirements: Hudson County resident.

Recipient Requirements: Jersey City resident.

This scholarship was established in 2011 through a bequest from the estate of Bob Cobban, ’50, in memory of his parents.

This scholarship was established in 2001 and has been supported over the years through gifts by family and friends, in honor of the Dolan family’s longtime connection to, and support of, Prep.

4 SAINT PETER’S PREP n report on endowed scholarships

Donnelly – Fitzpatrick

James F. Donnelly, ’35 Scholarship # $50,000 / $50,125 |

+

This scholarship was established in 2014 by Ann Murray in memory of her friend James Donnelly, ’35.

Edwin C. Eastwood, ’47 Scholarship # $100,000 / $115,669 |

+

This scholarship was established in 2008 through a bequest from the estate of Edwin Eastwood, ’47.

Robert J. Engel, ’28 Scholarship # $896,479 / $1,636,887 |

-

John J. (Jack) Finn, ’52, P’81,’82,’85,’87,’94 Scholarship # $141,705 / $178,901 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 2005 through a significant gift from Mary Finn (Jack’s wife) and by memorial gifts from family and friends. It honors Jack’s service to his community and to his alma mater.

Dr. Margaret Finn Scholarship # $25,000 / $45,648 |

+

This scholarship was established in 1991 through a bequest from the estate of Robert Engel, ’28.

This scholarship was established in 1988 through a gift from Dr. Margaret Finn.

Erbach/Conway Scholarship

Stella & Joseph Finneran Scholarship

# $50,000 / $84,406 |

+

Recipient Requirements: Hudson County resident.

This scholarship was established in 2001 by Bart Erbach, ’74 and his wife Margaret Conway.

# $25,001 / $45,648 |

+

This scholarship was established in 2001 through a gift from Carl Finneran, ’44.

First Jersey/Bank of America Scholarship

John F. Fahy, ’59 Scholarship

# $50,000 / $91,295 |

# $76,375 / $133,321 |

This scholarship was established in 2001 through a gift from First Jersey Bank.

+

This scholarship was established in 2004 by the family and friends of John Fahy, ’59.

Joseph Faulkner, S.J., Scholarship # $47,907 / $87,473 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 1991 by friends of Joe Faulkner, S.J., in memory of his great service to the underprivileged families of downtown Jersey City.

Joseph M. Fitzpatrick, ’42 Scholarship # $111,500 / $127,879 |

+

This scholarship was established in 2011 by the law firm of Fitzpatrick, Cella, Harper & Scinto, in memory of the firm’s founder and their colleague Joe Fitzpatrick, ’42.

Daniel M. Finn, ’99 Scholarship # $72,083 / $89,254 |

+

Key to symbols

+

#$25,000 / $45,648

Recipient Requirements: Hudson County resident preferred.

Total gifts / Market value as of June 30, 2015

This scholarship was established in 2004 through memorial gifts by the family and friends of Dan Finn, ’99, following his untimely passing that same year.

Annual Scholarship recipients:

Number of Partial

Number of Full

Numerous partial (varies by year)

Note: All scholarship recipients must demonstrate quantifiable financial need; any requirements listed are in addition to this basic requirement.

report on endowed scholarships n SAINT PETER’S PREP 5

Fleck – Hall of Fame

Blanche & George Fleck, P’68 Scholarship

Gabelli Scholarship

# $67,550 / $103,758 |

# $25,000 / $28,917 |

+

This scholarship was established in 2001 by Mary and George Fleck, ’68, who provided the lead gifts, in memory of George’s parents, with additional gifts from family and friends.

Rev. Robert Flynn, S.J., & Edmond N. Moriarty, ’46 Scholarship # $180,323 / $289,083 |

++

This scholarship was established in 2001 by the Edmond N. & Virginia H. Moriarty Charitable Foundation, at the direction of Ginny Moriarty, widow of Ed, ’46. It was created to honor her husband and Robert Flynn, S.J., who was a Jesuit Scholastic (novice) during Ed’s student days at Prep and who later, as a priest, became a close family friend.

Friends of Jersey City Scholarship # $976,325 / $1,080,401

++++++++ (2 per class year) Recipient Requirements: Jersey City residents.

This scholarship was established in 2007 by Brian Archer, ’86, who continues to support its growth, with a goal of enabling qualified young men from Jersey City to benefit from Prep’s Jesuit education, as he himself did decades earlier.

Alfreda Fromfield, P’91 Scholarship # $50,925 / $64,870 |

+

This scholarship was established in 2003 by Miriam & Brendan Ward, P’06,’08, in memory of Alfreda Fromfield, who for many years was an inspiring and dedicated junior high school social studies teacher at St. Cassian School in Upper Montclair – where she also was a very effective recruiter for Prep. Family and friends provided additional support.

6 SAINT PETER’S PREP n report on endowed scholarships

+

This scholarship was established in 2007 through a gift from Gabelli Asset Management Company.

Victor Gallo, ’85 Scholarship # $25,000 / $45,648 |

+

This scholarship was established in 2002 through a gift from Victor Gallo, ’85.

Geir Scholarship # $17,500 / $31,953 |

+

This scholarship was established by gifts received prior to 2001, in support of Prep’s financial aid program.

John Michael (T.J.) Giordano, ’83 Scholarship # $75,686 / $119,043 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 1998 by the family and friends of John Giordano, ’83, who died in 1996. Since its inception, it has continued to receive annual support from family members and friends.

Groesbeck Scholarship # $290,000 / $303,085 |

++

This scholarship was established in 2012 by Bob Groesbeck, ’57, who continues providing gifts in support of its growth.

Hall of Fame Scholarship # $32,688 / $28,370 |

+

This scholarship was established in 2006 and receives ongoing funding through the proceeds of Prep’s Athletic Hall of Fame induction dinner/ceremony.

Halligan – Keenan

Dr. Earl Halligan Scholarship

Jesuit Scholarship

# $391,320 / $714,512 |

# $101,090 / $107,492 |

-

This scholarship was established in the 1990s by Dr. Earl Halligan.

Coach Jerry Halligan Scholarship # $138,015 / $217,984 |

+

This scholarship was established in 1998 by various individuals and entities in honor of the Jesuits who have served Prep since the school’s founding in 1872. Lead gifts were provided by the Jesuit Community of Saint Peter’s Prep.

+

This scholarship was established in 1999 by Coach Jerry Halligan’s former players and friends to honor his extraordinary career as Prep’s basketball coach from 195584. Lead gifts were provided by Roger Breslin, ’55, Kevin Cummings, ’72, Larry Fell, ’54, Rich Hayes, ’72, and Phil McGovern, ’76.

Johnson Scholarship

Hamill Family Scholarship

#$122,716 / $224,067 |

# $30,800 / $56,166 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 2002 by John (Jay) Hamill, ’69, in honor of his parents – Gloria & Dr. John Hamill, ’37 – and the many family members who attended Prep over the years.

Hennessy Family Scholarship # $126,800 / $155,508 |

+

Recipient Requirements: Catholic student.

This scholarship was established in 2004 by Pat & John Hennessy, ’56 in honor of the Hennessy family members who were so supportive of John and his brother Joe, ’48 during their Prep careers.

# $35,606 / $65,013 |

+

This scholarship was established prior to 2001 through a gift from John A. Johnson.

Vincent Jordan, ’26 Scholarship

+

This scholarship was established in 1997 by Vincent Jordan, ’26, with additional support from the estate of Loretta Jordan.

Annie Keenan Scholarship # $134,281 / $177,042 |

+

This scholarship was established in 1997, and has been supported since, by the friends of Prep president Jim Keenan, S.J., in memory of Fr. Keenan’s mother.

James F. Keenan, S.J., Scholarship # $236,786 / $280,567 |

++

This scholarship was established in 2006, in honor of Fr. Keenan’s completion of his 12-year tenure as Prep president.

Bill Bell, ’57 provided the lead gift.

Higgins Scholarship # $50,000 / $91,295 |

+

This scholarship was established in 2000 through a bequest from the estate of John T. Higgins.

#$25,000 / $45,648

Hyatt Scholarship # $20,100 / $36,641 |

Key to symbols Total gifts / Market value as of June 30, 2015

+

This scholarship was established in the 1990s by friends and family in honor of legendary Prep football player and coach John W. (Jackie) Hyatt, ’49.

Annual Scholarship recipients:

Number of Partial

Number of Full

Numerous partial (varies by year)

Note: All scholarship recipients must demonstrate quantifiable financial need; any requirements listed are in addition to this basic requirement.

report on endowed scholarships n SAINT PETER’S PREP 7

Kunzman – McGovern

Kenneth Kunzman, ’54 Scholarship

Elizabeth Makely Scholarship

# $86,450 / $154,264 | This scholarship was established in 2001 by Ken Kunzman, ’54 in celebration of his induction as a “Legend of Prep,” with additional support by numerous friends and colleagues.

# $52,000 / $94,038 |

Legends of Prep Scholarship

William P. Maresca, ’50 Scholarship

+

# $130,551 / $325,597 | This scholarship was established in 1993 and continues to be supported by the proceeds of the “Legends of Prep” dinner that takes place every three years, and by special gifts from numerous individuals.

-

Lizza Family Scholarship # $151,732 / $248,420 | This scholarship was established in 1992 by Sandy and Charlie Lizza, ’74, P’11,’12, who continue to support its growth. Additional support was provided by family and friends.

+

Charles Everett Lloyd Scholarship # $458,802 / $837,727 | This scholarship was established by a gift from Charles Everett Lloyd.

++++

Lynyak-Ryan Scholarship # $75,296 / $133,158 |

+

This scholarship was established in 1991 by Joe Lynyak III in honor of his parents, Joseph and Winifred Lynyak, and Edmund G. Ryan, S.J., a close friend and mentor. Additional support was provided by family and friends. Joe continues to support the scholarship’s growth.

Jeanne R. Maher Scholarship # $20,000 / $30,777 | This scholarship was established in 2003 by Tom Maher in support of Prep and its Jesuit mission.

+

Justin D. Mahon,’27 Scholarship # $150,278 / $199,142 | This scholarship was established in 1987 by Gertrude Mahon in honor of her husband, Justin Mahon, ’27, who was celebrating the 60th anniversary of his graduation from Prep.

Since Justin’s death in 1991, Gertrude has continued her support of the scholarship through gifts on an annual basis.

+

8 SAINT PETER’S PREP n report on endowed scholarships

+

This scholarship was established in 1999 by Joseph Makely, ’54, in honor of his mother’s support and insistence that he attend Prep.

# $57,340 / $87,800 |

+

This scholarship was established in 1997 by Beverly Maresca upon the death of her husband, Bill Maresca, ’50, with additional support from memorial gifts by family and friends.

Berverly has continued to support the scholarship on an annual basis.

Markey Family Scholarship # $500,000 / $502,732 |

+++++

This scholarship was established in 2015 by Betty & Andy Markey, ’48, as a way to make permanent their annual support of Prep students who have significant financial need.

Patricia & Allan McCarthy, ’58 Scholarship # $24,600 / $38,793 |

+

Recipient Requirements: Catholic; Hudson County resident; Catholic grammar school preferred.

This scholarship was established in 2003 by Pat and Allan McCarthy, ’58 in support of Prep and its Catholic tradition.

Robert McDermott Scholarship # $64,300 / $73,468 |

+

This scholarship was established in 2004 by the family and friends of Bob McDermott, in memory of his impact on Prep students during his 12 years as a member, and later chairman, of the mathematics department.

John McGovern, ’80 Scholarship # $122,257 / $181,735 |

+

This scholarship was established in 1995 by numerous family members, classmates and friends in memory of John McGovern, ’80, who died in 1988. In particular, it honors his positive impact on the Prep community as a studentathlete and friend. John’s brother Phil, ’76 has provided lead support, with the annual John McGovern, ’80 Basketball Tournament at Prep providing additional funding.

McGrail – Nasif

Vincent J. McGrail,’37 Scholarship

Mortenson Family Scholarship

# $65,000 / $118,684 |

# $145,580 / $197,012 |

+

This scholarship was established in the 1990s through a gift

by Vincent McGrail, ’37.

McLaughlin Scholarship # $20,000 / $36,518 |

+

This scholarship was established in the 1990s through gifts

by Jim McLaughlin, ’54.

Mary Jane Meehan Memorial Scholarship # $70,572 / $93,385 |

+

This scholarship was established in 2001 by Dr. Robert Carducci, ’54, in honor of his friend Mary Jane Meehan, a dedicated and talented nurse and administrator who was known for her extremely selfless, supportive and loving service in health care and also in state government.

Mertz Family Scholarship # $57,062 / $80,582 |

+

This scholarship was established in 2001 by Gail and Frank Mertz, ’54, who continue to provide support of its growth, supplemented by gifts from family and friends.

This scholarship was established in 2001 by W. Chris Mortenson, ’64, in memory of his father, William C. (Bill) Mortenson, ’34. Chris was one of five Mortenson brothers to attend Prep. Additional support has been provided by Jim, ’71, Tim, ’74 and the family’s Gabbe Foundation, which continues to support its growth.

Murray Family Scholarship # $30,000 / $30,164 |

# $72,000 / $76,794 |

+

This scholarship was established in 2010 by Joe Michalik, ’79, in memory of his parents, and he continues to support its growth.

+

This scholarship was established in 2015 by Meg & Patrick Murray, P’18 to help enable deserving young men to receive Prep’s Jesuit education.

Margaret P. & Mary H. Murtagh Scholarship # $80,962 / $109,074 |

+

This scholarship was established in 2004 by Hugh H. Murtagh, with additional support provided two years later by his estate and by Patrick Murtagh.

Dr. Louis P. Nasif, ’62 Scholarship # $67,400 / $73,206 |

Helen & Benjamin Michalik, P’76,’79 Scholarship

+

+

This scholarship was established in 2012 by Nora Nasif in memory of her husband, Lou Nasif, ’62. It also has received support from numerous family and friends, with Nora providing ongoing support.

Rev. Richard A. Mietzelfeld, ’42 Scholarship # $25,000 / $25,137 |

+

This scholarship was established in 2015 through a bequest from the estate of Fr. Richard Mietzelfeld.

Donald P. Moriarty, ’48 Scholarship # $16,860 / $25,002 |

+

This scholarship was established in 2009 through memorial gifts received in the name of Prep’s founding board chairman and benefactor Don Moriarty, ’48.

Key to symbols

#$25,000 / $45,648 Total gifts / Market value as of June 30, 2015 Annual Scholarship recipients:

Number of Partial

Number of Full

Numerous partial (varies by year)

Note: All scholarship recipients must demonstrate quantifiable financial need; any requirements listed are in addition to this basic requirement.

report on endowed scholarships n SAINT PETER’S PREP 9

O’Donnell – Reiser

Sgt. Jake R. O’Donnell, USMC, ’04 Scholarship

Pickett Family Scholarship

# $44,423 / $44,974 |

Recipient Requirements: Graduate of HAP.

+

This scholarship was established by the parents of Jake O’Donnell, ’04, who died in 2013, with ongoing support from family and friends. Margarita & Philip Reynolds, P’09,’11,’13 provided the lead gifts.

Rev. Maurice L. O’Keefe, ’49 Scholarship # $125,000 / $117,027 |

+

This scholarship was established in 2006 from a portion of a large bequest to Prep from the estate of Msgr. Maurice L. O’Keefe, ’49.

Hubert J. O’Toole, ’51 Scholarship # $100,350 / $161,431 |

+

This scholarship was established in 2000 by Hubie O’Toole, ’51.

John G. Pappas, ’62 Scholarship # $25,402 / $27,880 |

# $52,588 / $56,770 |

+

This scholarship was established in 2006 by Dorothy & Bill Pickett, ’49, P’00, with some additional support from a few family and friends. Bill, who died in 2014, was a founder of Prep’s Higher Achievement Program (HAP) in 1964.

Mary & Charles F.X. Poggi, ’49 Scholarship # $165,000 / $301,274 |

++

Recipient Requirements: Hoboken resident preferred.

This scholarship was established in 1998 by Charlie Poggi, ’49.

Vera M. & Charles J. Poggi Scholarship # $100,000 / $151,684 |

+

Recipient Requirements: Hoboken resident preferred.

This scholarship was established in 2008 by Charlie Poggi, ’49, in honor of his parents.

+

This scholarship was established in 2012 through gifts made in memory of John Pappas, ’62, following his death that year.

John’s widow, Stella, provided the lead gift.

John R. Raslowsky, Sr., P’79,’82,’86,’87 Scholarship

Joseph Parkes, Sr., P’62 Scholarship

This scholarship was established in 1997 through gifts by family and friends of John Raslowsky, Sr. John and his wife Marjorie are the parents of four Prep graduates.

# $55,000 / $100,425 |

+

This scholarship was established in the 1980s by Mary Parkes in honor of her husband, Joseph, Sr., with additional support from memorial gifts from family and friends. Mary and Joseph were the parents of Fr. Joe Parkes, S.J., ’62, who served as Prep’s president from 1979-86.

Petri Family Scholarship # $95,021 / $173,499 |

+

This scholarship was established in the 1990s by Joe Petri, ’71.

10 SAINT PETER’S PREP n report on endowed scholarships

# $51,056 / $85,744 |

+

Robert E. Reiser, S.J., Scholarship # $25,000 / $37,921 |

+

This scholarship was established in 2009 by Jerry Brill, ’57, in honor of Prep President Fr. Bob Reiser, S.J.

Riedlinger – Tambouri

Mr. and Mrs. Arthur Riedlinger, P’63,’67 Scholarship # $67,086 / $96,784 |

+

Recipient Requirements: Jersey City resident.

This scholarship was established in 1997 by Ed Riedlinger, ’67, in memory of his parents.

The Gerard S. Russoniello, ’62 Scholarship # $77,709 / $112,430 |

+

This scholarship was established in 2001 by Joe Russoniello, ’59, in memory of his brother Gerry, ’62. Additional support was provided by memorial gifts from family and friends, with Joe providing ongoing support of its growth.

Thomas E. Sasso, ’70 Scholarship # $159,444 / $216,570 |

+

Recipient Requirements: Bergen County resident.

This scholarship was established in 2004 through memorial gifts by family, friends, and corporate colleagues of Tom Sasso, ’70, following his death that same year.

Harry Siperstein Scholarship # $200,000 / $365,180 |

+

This scholarship was established in the 1980s through a gift from Harry Siperstein, in honor of his good friend Frank Hamill, S.J., ’46, a Prep faculty member and administrator.

Harry was a prominent Jersey City businessman whose nephew, Alan, was a member of the Class of ’74.

Seth Sprague Scholarship # $90,000 / $140,356 |

+

This scholarship was established in the 2000s through gifts from the Seth Spague Foundation.

Leo S. Sullivan, ’22 Scholarship # $118,896 / $138,693 |

This scholarship was established in 2004 by Eileen & Larry Fell, ’54, in honor of Eileen’s dad, Leo Sullivan, ’22, who taught at Prep in the late 1920s and also served as Prep’s attorney for many years (always pro bono). The scholarship has been supported over the years by Eileen & Larry, and by other family members.

Thomas G. Sullivan, ’80, P’12,’17 Scholarship # $76,230 / $86,716 |

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This scholarship was established in 2007-08 through gifts by Bill Stoutenburgh, ’51.

+

Recipient Requirements: Hudson County resident.

This scholarship was established in 2004 by Deirdre Sullivan, whose husband Tom, ’80 was killed in the World Trade Center attack on 9/11. A popular member of the Class of ’80 and a success on Wall Street, Tom was known for his generosity and always credited his Prep education with preparing him for college and the professional world. In addition to Deirdre’s ongoing gifts, this scholarship has been supported by numerous family and friends over the years. Sons Dermot, ’12 and Conor, ’17 are maintaining the family’s Prep tradition.

Gary Susnjara, ’57 Scholarship # $24,449 / $44,641 |

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This scholarship was established in 1997 by Mary Susnjara, in memory of her late husband, Gary, ’57.

Irene Tambouri Scholarship # $28,365 / $47,277 |

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This scholarship was established in 1998 by Dick Tambouri, ’50, to honor the memory of his wife Irene. Additional funding has been provided by family and friends.

Key to symbols

Stoutenburgh Scholarship # $200,000 / $267,352 |

+

#$25,000 / $45,648 Total gifts / Market value as of June 30, 2015 Annual Scholarship recipients:

Number of Partial

Number of Full

Numerous partial (varies by year)

Note: All scholarship recipients must demonstrate quantifiable financial need; any requirements listed are in addition to this basic requirement.

report on endowed scholarships n SAINT PETER’S PREP 11

Tedesco – Webb

Tedesco Family Scholarship # $250,000 / $309,797 |

+

This scholarship was established in 2005 by Francis Tedesco, ’74, in memory of his parents.

Donald J. Unger, Jr., Scholarship # $66,163 / $66,197 |

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This scholarship was established in 2007 by Don Unger, ’55, in memory of his son Don, Jr. Don and his ’55 classmates continue to support the scholarship’s growth.

Union County Scholarship # $33,500 / $55,158 |

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Pasquale (Pat) Vizzacchero, P’96,’00 Scholarship # $16,000 / $29,214 |

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This scholarship was established in 2000 to honor the memory of Pat Vizzacchero, P’96,’00, who for many years provided selfless service to the Prep Parents’ Association (PPA).

Sarah A. Walsh Scholarship # $30,000 / $54,777 |

+

This scholarship was established in the 1990s.

Ward Family Scholarship

Recipient Requirements: Resident of Union County.

# $210,000 / $283,010 |

This scholarship was established in 2001 through gifts from the Union Foundation, with significant additional funding from the E.J. Grassman Trust.

This scholarship was established in 2001 by John Ward, ’63, who has provided consistent support annually since its inception. John is the son of John A. Ward, ’25.

Vickers & Viskovich Scholarship

Rev. Ercel Webb, P’76,’81,’83,’89 Scholarship

# $50,000 / $50,699 |

+

Recipient Requirements: Preference for Croatian/Slovenian background.

This scholarship was established in 2014 by Charlie Vickers, ’40, who has provided all funding.

12 SAINT PETER’S PREP n report on endowed scholarships

# $87,467 / $156,585 |

+

+

This scholarship was established in the 1996 to honor the legacy of Rev. Ercel Webb, who taught at Prep and also was the pastor of the Monumental Baptist Church in Jersey City. Primary funding was provided by Bob & Anne Marie Reardon, P’87 and the Monumental Baptist Church, with additional support from friends over the years.

Wieczorek – Zito

Ronald H. Wieczorek, ’60 Scholarship

Thomas W. Zito Sr., P’66,’71 Scholarship

# $31,000 / $53,070 |

# $746,581 / $1,038,438

+

Recipient Requirements: Jersey City resident.

++++++++ (2 per class year)

This scholarship was established in 2004 by the estate of Ron Wieczorek, ’60, with additional support in subsequent years from his brother Greg, P’00.

Recipient Requirements: Bayonne resident.

Withrow-Haggerty Scholarship # $70,177 / $76,382 |

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This scholarship was established in 2010 by Jim Haggerty and his wife Jean Withrow, in honor of their friend Bill Pickett, ’49, P’00, who was the driving force behind the creation of Prep’s Higher Achievement Program (HAP).

This scholarship was established in 1996 by Bob Zito, ’71, in memory of his dad Tom, who headed the Bayonne Housing Authority. Primary funding continues to be provided annually

by Bob and by Cento Amici, the philanthropic organization that he founded in 1989 (when it was known as Trenta Amici). Family and friends also provided early funding.

OTHER ENDOWED SCHOLARSHIPS A number of additional endowed scholarships, each with a market value of less than $25,000, have been established over the years in support of Prep’s financial assistance program. The following funds were created prior to June 30, 2015: Louis A. Argyelan, P’68,’71’76 Scholarship Anthony Azzarto, S.J., Scholarship Raymond J. Balduf, S.J., & Catherine Golden Scholarship Milton Berkowitz, P’61 Scholarship Robert J. Boyko, ’72 Scholarship Breckenridge Avenue Scholarship Butler Family Scholarship Mary Scott Carlton Scholarship Connors Boys Scholarship Delaney Scholarship Ebony Club Scholarship Dr. Joseph Grubowski Scholarship Judge Robert E. Guterl, ’57 Scholarship

McDonald Scholarship August (Augie) Meagher, S.J., Scholarship Mitzie (Massarelli) & Edward Moskal Scholarship Dr. Luke A. Mulligan, ’20 Scholarship Nodine Family Scholarship Ferdinand Orthen, ’14 Scholarship Clement C. O’Sullivan, ’23 Scholarship Jerome Pedersen, ’92 Scholarship Edmond R. & Maria T. Sienkewicz Scholarship James Taffaro, ’59 Scholarship Henry J. Treusch & Anne Larkin Treusch Scholarship Mario Violini Scholarship report on endowed scholarships n SAINT PETER’S PREP 13

Creating an Endowed Scholarship at Saint Peter’s Prep

Background Since its founding in 1872, Saint Peter’s Prep has prided itself in offering an outstanding college preparatory education to talented young men, regardless of their families’ financial circumstances. This has been achieved primarily through a tuition/ fee structure that is among the most affordable of any school of similar stature in the New York metropolitan area. Also, the generous support of the school’s general operating budget, primarily through gifts to the Annual Fund, continues to make this possible.

Fortunately, this is augmented by special gifts that support both merit-based and need-based financial awards to deserving students. The creation of a permanently endowed scholarship is among the most attractive options for individuals, families, corporations or other entities who wish to provide ongoing support for current and future generations of Prep men, while also, in many cases, honoring the service or memory of a beloved or admired family member, colleague or former teacher.

In the 2015-16 academic year, Prep is awarding approximately $2.4 million in academic scholarships and need‑based financial assistance, and some 33% of these funds are generated directly by Prep’s endowment.

Prep’s Endowment The Saint Peter’s Prep endowment is comprised of gifts, both large and small, received by the school over the decades. Many of these gifts were directed specifically by the donor to be placed in this permanent endowment to help support scholarships and financial assistance awards. These range from gifts of significant size from a single donor, to smaller gifts donated by friends, relatives or colleagues in honor of, or in memory of, a loved one. Others gifts arrive at Prep “unrestricted”– including bequests – that are directed to the endowment by the Prep administration.

In virtually all cases, these gifts are considered “permanently restricted”– which means that the principal can never be touched. Instead, the funds generated annually through investments are used to support the endowment’s primary components.

Most of the endowment’s annual investment income provides funds for both merit- and need-based awards, with smaller portions donor-directed to support other specific initiatives, such as faculty development, the Emmaus Retreat Program, the Higher Achievement Program (HAP), or the science program. Stewardship and oversight of the endowment is provided by the Investment Committee of the school’s board of trustees, who consult regularly with the endowment’s managers and who report to the full board and to the school’s senior administration.

Following nationally accepted standards, Prep currently draws 4% annually from the endowment. (The exact percentage in a given year is designated by the board of trustees.) These funds are then incorporated into the following year’s school budget.

Investment proceeds above the 4% annual draw are reinvested as part of the broader endowment.

Permanently Endowed Named Scholarships Among the various gifts, or clusters of gifts, that comprise Prep’s permanent endowment, some 140 of them have established permanently endowed “named scholarships.” These range from a single partial scholarship that is awarded to the same student in each of his four years at Prep, to full or partial scholarships that are awarded annually to multiple students. Virtually all of these are named specifically for families, individuals or organizations. In each case, the specific scholarship was created when the gift, or cluster of gifts, reached the minimum financial threshold necessary to create such a scholarship. (This threshold figure is adjusted every few years to keep pace with inflation and increases in tuition. See the chart on Page 16 for current figures.)

Working with the school’s Advancement Office, the primary donor may request that certain criteria be used in determining the scholarship’s recipient (e.g., that the student reside in a certain town or county), with the understanding that if no qualified student meets those criteria, the school will suggest a qualified young man who meets similar criteria. At certain levels, the primary donor can also recommend that the financial award be split among more than one student in a given academic year.

14 SAINT PETER’S PREP n report on endowed scholarships

Once an endowed scholarship has been created, it will continue to grow in value as part of the broader endowment. The scholarship’s designated contact person will receive an annual update on the scholarship’s recent performance, and the primary donor(s) may request a get-acquainted meeting at Prep with the scholarship’s student recipient.

Scholarship Recipients This year, approximately 47% of Prep students are receiving merit- or need-based financial awards. Of this group, some twothirds of recipients receive awards based solely on financial need.

The merit-based scholarships, also known as Ignatian Scholarships, are awarded on the basis of superior performance on the COOP entrance exam and an exemplary grammar school transcript. These awards range in size, commensurate with the student’s academic record, and the student receives the award in each of his four years at Prep, with the condition that he maintains a satisfactory academic average in all subjects.

The need-based awards are granted on the basis of the school’s financial aid process, which includes the family’s annual submission of tax returns and similar documents. Each family’s data is reviewed by an independent entity that makes recommendations regarding the size of financial assistance to be awarded; this data is then reviewed by Prep’s Director of Financial Aid and other appropriate administrators to determine the distribution of the school’s financial assistance funds.

After students have indicated that they will accept Prep’s offer of financial assistance, and after they have officially registered for the following academic year, some recipients are matched with the appropriate “named scholarships,” based on the size of the awards and any special criteria connected with those scholarships.

Creating an Endowed Scholarship The Prep Advancement Office can guide prospective donors through the process of creating a permanently endowed scholarship. The ensuing discussion will include such factors as the school’s current minimum threshold to create such a scholarship.

Also part of this discussion will be the various options used to fund the scholarship – e.g., funding from a single donor or from multiple donors; providing funds in a lump sum or over a multi-year pledge period; using gifts of stock or similar non-cash payment options; and potential future support of the scholarship beyond its initial funding.

report on endowed scholarships n SAINT PETER’S PREP 15

current levels to create an endowed scholarship (as of July 1, 2015)

Initial corpus of endowed scholarship

Initial annual revenue (based on 4% draw)

$50,000*

$2,000

$75,000

$3,000

$100,000

$4,000

$125,000

$5,000

$150,000

$6,000

$175,000

$7,000

$200,000

$8,000

$250,000**

$10,000

$500,000

$20,000

$750,000

$30,000

$1,000,000

$40,000

NOTE: Endowed scholarships under $100,000 are usually limited to a single recipient. Others may be split between two or more recipients annually, as circumstances permit.

* **

Minimum contribution required to create a partially endowed scholarship.

Contribution needed to establish a fully endowed scholarship.

16 SAINT PETER’S PREP n report on endowed scholarships

For further information Please contact Jim Horan, ’70 Vice President for Planning & Principal Giving T: 201-547-6428 E: HoranJ@spprep.org

Saint Peter’s Prep New Jersey’s Jesuit High School Since 1872

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144 Grand Street | Jersey City, NJ 07302 | spprep.org