Catholic Education Foundation a Letter from the President. (Education).

The following contains excerpts from the Letter of the President of the Catholic Education Foundation, Richard M. Ferry, as published in the Foundation's 2001-2002 Annual Report.

We are most grateful to all friends of Catholic Education for their support.

With the launching of the President's Circle and the President's Century Circle, we have built strength upon strength. As we head into our 15th anniversary year, we celebrate the tremendous legacy that our donors have provided: over 51,000 awards at a cost of $42 million. Contributions from individual donors have gone up 59% over the last three years and the number of donors to our annual fund has also seen a significant increase as well, up 77%. This is a vital sign of good health, because annual fundraising allows us to extend our scholarships beyond what we could fund through our endowment earnings.

And in the 2002-03 academic year, we will be funding over 5,500 students -- the highest number of students ever funded in a single year -- at a cost of $5,000,000. That represents ten times the grants awarded in our first year, and reflects the belief of so many of you that we can make a difference in our city by keeping open the doors of Catholic schools.

It gives me great pride and personal pleasure to thank all of our supporters, on behalf of Cardinal Mahony and my fellow trustees, for your faith in our mission over these fifteen years. Those 51,000 awards have made a positive difference in the lives of thousands of children throughout our Archdiocese, and we thank you for your willingness to invest with us.

Challenges in the midst of enduring values and dreams

For many of us, this past year has been a mixture of frustration, horror and hope. Slowdown in the economy and reverses in the financial markets impact our financial health and sense of well-being. The shadows of September 11 continue to loom over our country, and over our sense of a deepening and frightening change in the world around us.

But the challenges confronting our communities will always pose a challenge to us, as they did fifteen years ago when I was privileged to launch this enterprise with a number of other business and community leaders. That we could have done so much, in relatively so little time, is both an affirmation of the power of individuals to make a difference and the power of education in our community.

It is amazing to see what such hard work has accomplished in only fifteen years, and we celebrate the contributions of some of our oldest and most stalwart friends ... We measure success in our efforts in the lives of individual students, and I am confident that you can take pride in knowing that your donation has nurtured a dream, strengthened a family, kindled hope and opened a door.

While challenges we have confronted over the past fifteen years may pale when compared to those that will emerge, some of the basic verities still stand firmly at the heart of our community, as they do in the heart of every Catholic school:

* every child is precious in the eyes of God and deserves a chance at fulfilling his/her destiny

* education is a time tested process, which starts in the home and broadens to include a community that values both the individual and his/her place in the wider community

* a child needs to learn basic academic skills in order to compete in our complex economy -- those skills start at the elementary level and build through secondary and post secondary education.

* every child needs a structure of moral values within which life choices can be made wisely and affirmatively 

* expectations of academic success and personal responsibility are part of the Catholic school curriculum, and are held for every single child -- who then respond

* parents throughout our community have dreams for their children, many of which are frustrated by circumstance, poverty, family dislocation and the challenges of urban life.

These beliefs animate the mission of Catholic Education.

Thanks to your support, our mission was transformed into the lives of 4,700 students this past year, and into the lives of thousands of families whose children are now making a difference in our community, our country and our world, every day.

On their behalf, it is a privilege to represent your hopes and their dreams in the work we do. Thank you for believing in us, and in the incredible work of Catholic schools throughout our community, especially in our inner city neighborhoods. It is a partnership for our future and it is good work to be doing together.

Richard M. Ferry

President

The Catholic Education Foundation

For a copy of the annual report, or additional information regarding the CEF's efforts to help inner city children, please visit their website at www.CatholicEd-Foundation.org or call us at 213-637-7475.