2017 Annual Report 453 N. Notre Dame Avenue South Bend, IN 46617 Letter from the Principal Dear Friends of Saint Joseph High School, On January 9, 2018, in front of a packed house for our boys’ and girls’ basketball games against Marian High School, we dedicated our main gym at 453 N. Notre Dame Avenue as Alumni Gymnasium. What a night to remember as another tradition from 1441 was carried forward. With so many alumni present, it was obvious, Once an Indian, Always an Indian! Last March, our Advancement Office launched our GoFundMe campaign to name our main gymnasium in honor of the thousands of Saint Joe alumni. Our goal to raise $250,000 was accomplished. The generosity of so many of our alumni and current faculty and staff raised the necessary monies to achieve our goal. As I dedicated the new Alumni Gym, many wonderful memories from 1441 came flooding through my mind: all school Masses, pep assemblies, basketball games, welcome home rallies for our State Champions, and wrestling matches to name a few. My sons were involved in so many of those activities and each is proud to own a piece of that old gym floor. I am certain that the new Alumni Gym will provide just as many treasured memories to new and future alumni. I still remember walking through the doors at 453 six years ago and the incredible feeling I had as I prepared to welcome our students to their new home on August 30, 2012. Until they arrived, it was simply a new building. After that first day, it became a home for the Saint Joe family. I am still overwhelmed when I think of the tremendous generosity of all our donors who made Forward in Faith a success. This same generosity continues today. I am grateful for the support each of you gives to our mission with your contributions to so many of our campaigns, including the SGONEI, the Fund for Saint Joseph, GoFundMe for Alumni Gymnasium, and our annual auctions. We are transforming our students in heart and mind each day because your gifts enable our programs to sustain a level of excellence for our students. Learn. Serve. Lead. Succeed. Our students do all four every day and your support enables our students to experience a Catholic education. Truly, we are blessed because of your tireless efforts to assist us as we carry out our mission. God calls… the Saint Joseph family answers! Saint Joseph, pray for us! Susan Richter 2017/2018 School Board Deacon Melvin R. Tardy, Jr. Mrs. Kathleen Anthony, President Rev. Paul Ybarra, C.S.C. Mrs. Angelica Duarte Mr. Steven Zornig Mrs. Diane Freeby 2017/2018 School Administrative Team Mr. Chad Gentry Mrs. Susan Richter - Principal Mrs. Maria Harding Mrs. Marilyn Gibbs - Assistant Principal for Academics Mrs. Mary Harding Mr. Bob Tull - Director of Student Affairs Mrs. Donna Lamberti Mrs. Debbie Brown - Director of Athletics Mr. Daniel Luck Mrs. Tami Goy - Director of Pastoral Ministry Dr. Douglas A. Morris Mr. Randy Squadroni - Director of Operations Mr. Alan Scott Mrs. Dana Strabavy - Director of Counseling Page 2 | 2017 Annual Report Statements of Financial Position June 30, 2017 and 2016 2017 2016 Assets Current assets Cash and cash equivalents $ 1,589,415 $ 1,181,138 Restricted cash $ 322,815 $ 383,305 Accounts receivable, net 87,762 65,498 Pledges receivable, net of allowance; 2017 - $257,621, 2016 - $129382, 748,126 829,358 Prepaid expense 11,768 24,342 Accrued interest receivable 18,900 18,850 Beneficial interest in assets held by the Community Foundations, at fair value 634,887 569,192 Construction support receivables 14,990,000 14,990,000 Property and equipment, net 38,637,000 39,665,923 Total assets $ 57,040,673 $ 57,727,606 Liabilities and net assets Liabilities Accounts payable $ 250,302 $ 312,909 Accrued wages and related taxes 408,523 397,540 Deferred tuition income 519,259 626,148 Funds held for others 114,259 112,685 Accrued interest payable 21,396 79,355 Capital lease obligations - 22,069 Line of Credit 3,554,000 4,120,000 Notes Payable - New Market Tax Credit 18,739,071 18,705,631 Total liabilities 23,606,810 24,376,337 Net assets Unrestricted 32,159,487 32,037,224 Temporarily restricted 1,066,224 1,105,893 Permanently restricted 208,152 208,152 Total net assets 33,433,863 33,351,269 Total liabilities and net assets $ 57,040,673 $ 57,727,606 2017 Annual Report | Page 3 2016-2017 Faith-$723K, 7.7% Total revenue for the 2016-2017 school year was $9,353,753 Page 4 | 2017 Annual Report SAINT JOSEPH HIGH SCHOOL CAPITAL CAMPAIGN SUMMARY - 12/31/2017 Income Written pledges and gifts (to date) $ 31,313,152 Land sale proceeds 2,999,000 NMTC tax credit (project gross revenue) 4,560,000 Total project revenue $ 38,872,152 Expenses Construction cost $ 28,447,223 Additional change order expenses 150,000 Contingency expenditures 887,500 Site demolition and land acquisition 1,837,806 Total expenses $ 31,322,529 Project soft costs Furniture, fixtures & equipment $ 871,413 Technology equipment 632,178 Technology infrastructure 342,258 Professional (AEI) fees + reimbursables 1,432,067 CSO additional services 240,600 DLZ lien settlement + survey 20,763 Relocation / moving 25,366 Construction manager fees 706,742 Zoning fees 54,430 Fundraising costs 669,508 Stadium entrance additions 1,334,031 Chapel additions 408,342 Line of credit interest payments 74,002 NMTC expenditures 1,652,800 Project legal fees 114,196 Campus fencing and signage 249,816 Apple laptops 840,751 Loan payoff diocese 375,000 1st Source loan interest (year one) 85,000 Purchase of 315 N. St. Louis 60,000 Additional maintenance items roof, bobcat 83,000 Total project soft costs $ 10,272,263 Total project cost 41,594,792 Project surplus/(deficit) $ (2,722,640) Potential project additions Bad Debt Reserve 286,422 Collection summary Total open pledges - balance 909,598 Cash on hand 201,227 Financing summary Loan amount 3,419,000 Less: open pledges + cash 1,110,825 Add: Bad Debt Reserve 286,422 Difference 2,594,597 2017 Annual Report | Page 5 In July 2016, SJHS’s outstanding debt balance was $4,120,000. As of December 31,2017, if all the outstanding pledges are collected, With the combination of past and current pledges, SJHS was able the remaining debt would be $ 2,594,597. The term of the debt is to pay down the outstanding debt by $566,000, leaving a balance of December 2019. $3,554,000 on June 30, 2017. Page 6 | 2017 Annual Report Letter from the Chief Advancement Officer Dear Parents, Alumni, and Friends, As Chief Advancement Officer of Saint Joseph High School, I am humbled and honored to be a part of Saint Joe’s rich heritage and storied mission. I am extremely grateful to all the families, alumni, and friends of St. Joe who have supported our mission by making Saint Joseph High School a priority in their charitable giving this past year. Every gift, no matter the size, is making a significant difference in the lives of our students and the quality of the education we are able to offer. Your generosity demonstrates a vote of confidence for our efforts to partner with parents in helping our students become well-educated and responsible adults with Catholic values. Thank you to all our volunteer committee members for their dedication of time and leadership this past year. The success of Forward in Faith Finale, Alumni Gymnasium campaign, and the SGONEI Fund is due to the tremendous support from our Saint Joe families. As we prepare for the next generation of students, please keep Saint Joseph High School in your prayers and know we are grateful to you for sharing with us your time, talent, and treasure. On behalf of our Advancement Office, thank you for your continued investment on behalf of our students. May God continue to bless the Saint Joe family. We know when God calls, We answer. With gratitude, Sue Hammes Chief Advancement Officer 2017 Annual Report | Page 7 Scholarship Granting Organization of Northeast Indiana (SGONEI) The Indiana Scholarship Tax Credit Program allows donors to contribute to certified Scholarship Granting Organizations (or SGOs) so that these SGOs can provide eligible lower income families with scholarships to attend a quality Catholic institution that best suits their children’s needs. As a donor (small business, corporate, and individual) to our Scholarship Granting Organization of Northeast Indiana, Inc. (SGONEI), you can receive an Indiana State tax credit equal to 50% of the amount given, in addition to the federal tax deduction for a charitable contribution. There is no size limitation on donations. In the 2017-2018 school year, Saint Joseph High School awarded 67 students a total of $138,399 of SGO funds averaging $2,066 per student. Thank you to the following generous donors who made donations in 2017: Alan & Toni Achkar Michael & Connie Joines Jim & Gretchen Pfeil John & Katie Anthony Thomas Keller & Bridget Quinn David & Kristin Pruitt Matthew & Katharine Barrett James & Lisa Kelly James & Betsy Quinn Brian & Lisa Casey Michael & Kathleen Kloska Larry & Kathleen Ratliff Julia Chismar Gary & Donna Lamberti Patric & Susan Richter Michael & Heather Coyne Donald & Allison Lamont Philip Sakimoto David & Julie Deahl Daniel & Patricia Luck Darin & Lisa Schaeffer Deena Dipert Edward & Teresa Maginn Alan & Rosanne Scott Matthew & Sharon Edmonds J. Patrick & Aimee Matthews Tim & Tonya Sexton Tim & Janis Emmendorfer Mary Ann Matthews-Derda Randy Squadroni Frederick & Lisa Everett James & Leanne Mazurek John & Jennifer Staud John & Judith Farrell Mary Meissner Keith & Kristine Stone Dr.