Campaign Update&

Financial Transparency

After review of this updated report, please consider making a pledge and/or additional commitment to the Sustain the Future campaign. If you have any questions, please feel free to contact me. God Bless,

Dr. Kenneth C. Hendriksen

Pledges:Cash:Assets in SupportTotal:

Campaign Commitments

$1,088,433$2,097,989$4,000,000$7,186,422

At the initial launching of this campaign, projections showed annual de�cits of nearly $500,000 or more. A generous benefactor committed to cover the FY17-18 �scal de�cit. This provided a one-year window to raise the $500,000 (Goal 1) needed to cover the FY18-19 budget de�cit, and begin receiving commitments towards the larger $10,000,000 (Goal 2) to be added to the St. Teresa Educational Foundation.

Additionally, at the beginning of the campaign, a $4 million pledge was made, contingent on being able to secure the other $6 million -- this contingency has been lifted and the monies have been deposited in an account from which St. Teresa will receive an annual draw of 5% plus the consumer price index.

To date, as shown below, we have received nearly $7.2 million in cash and pledges (including the $4 million mentioned above) towards the Sustain the Future campaign.

Three years ago, there were serious concerns whether St. Teresa High School would be able to sustain the quality programs provided to our students - conversations about potential cuts, signi�cant increases in tuition, and even closing the school were taking place.

I’m happy to state that although we still have some “heavy lifting” to accomplish our $10.5 million goal, revised �nancial projections – resulting from the Sustain the Future Campaign – show a positive cash �ow balance through the FY21-22 school year.

As cash gifts are received, they are deposited directly into a new Educational Foundation account, which is separate from the remaining Foundation accounts, to be invested in accordance with the Foundation’s investment policy. The current market value of the assets held within the St. Teresa Educational Foundation (excluding monies from the Sustain the Future campaign) and assets that are for the sole bene�t of St. Teresa equals $6,300,000.

At the end of each calendar year (12/31), the Foundation calculates the annual distribution to the school by multiplying the total assets by 5% - the established draw amount determined by the board of directors. This distribution is detailed in the “Educational Foundation” line item listed under the income section of the �nancal transparencies below.

Because of the focus on budget control and the wonderful generosity of the St. Teresa community thus far, the �nancial picture of St. Teresa has changed greatly from our initial projections.

Athough we have seen much improvement in the �nancial position of the school, we still have more work to do to ensure we meet our $10,500,000 goal -- you can see the impact of a fully funded campaign on the �nancial position of the school in the two far right columns, if the $10.5 million goal is reached and if all monies are received by 12/31/2019. PLEASE HELP US REACH OUR GOAL.

Updated Financial Transparency

Forecast Projected Projected ProjectedFY 18-19 FY 19-20 FY 20-21 FY 21-22

Final EnrollmentTuition & Fees ChargedOp. Expense Per Pupil

ExpensesInstruction & OperatingDevelopment & FundraisingCapital Outlay TOTAL

IncomeTuition & FeesDevelopment & FundraisingEducational FoundationOther Income TOTAL

Net, Current OperationsAssets in SupportCash Reserves AppliedBequest Income

Cash Balance

223 226$7,350 $7,600

$13,150 $14,020

$2,508,992 $2,575,120$364,300 $370,000$ 73,000 $150,000

$2,946,292 $3,095,120

$1,606,299 $1,692,625$545,000 $631,000$260,000 $301,861$101,476 $115,000

$2,515,894 $2,740,486

($430,397) ($354,633)$210,000 $214,200

$138,215 $151,503

$140,000 $30,000 $160,000

215$7,850

$15,070

$2,607,840$355,000$150,000

$3,112,840

$1,653,500$620,000$342,774$115,000

$2,731,274

($381,565)$218,484

$ 148,421

222$8,100

$14,840

$2,641,214$355,000$150,000

$3,146,214

$1,761,500$620,000$349,266$115,000

$2,845,766

($300,447)$222,853

$150,826

$ 92,147$ 80,000

222$8,100

$2,641,214$355,000$150,000

$3,146,214

$1,761,500$620,000

$560,000$115,000

($89,714)$222,853

$578,786

$14,840

$3,056,500

$ 80,000

Fully FundedFY 21-22

Fully FundedFY 20-21

215$7,850

$2,607,840$355,000$150,000

$3,112,840

$1,653,500$620,000

$560,000$115,000

($164,340)$218,484

$365,647

$15,070

$2,948,500

Initial Projections ($479,000) ($478,500) ($564,000) ($434,573)

$160,000

Dr. Kenneth C. HendriksenExecutive Director

kch@stteresa.org

Brandon J. BarneyVice President

brandon.barney@stteresa.org

If you’d like to make a gift or pledge in support of the Sustain the Future campaign you can do so online at www.stteresa.org/stf or by contacting us via email or phone at 217-875-7950. If you would like to meet in person to discss the campaign, please let us know.

$1Million Goal $639,401

Challenge Status64%

The McCoy Million Dollar challenge, initiated by Jack McCoy, Class of 1955, and his wife Barb, is well on its way towards the $1,000,000 in new gifts or pledges required to successfully meet the challenge. For every $100,000 in new commitments, the McCoys will give $25,000, up to a total of $250,000. All commitments made through July 25, 2019 will qualify towards the challenge - which means we have a little over two months to secure the remaining $381,000.

Jack and Barb McCoyMillion Dollar Challenge

2710 North Water Street | Decatur, Illinois 62526