Mon April 7, 2014
All-Boys Catholic School Gets $10 Million Endowment
WILMINGTON, Del. (AP) - Salesianum School has received a $10 million donation to its endowment.
The News Journals reports that the school announced the donation from developer Anthony Fusco Sr. in an advertisement in the newspaper. The ad says the donation means that the school will "remain open to all who wish to learn."
President Brendan Kennealey says it is the largest donation in the history of the all-boys Catholic school founded in Wilmington in 1903. He says annual tuition at the school is $13,200 and about 30 percent of its 974 students receive financial assistance. The interest on the endowment funds financial aid, which Kennealey says is central to the success of the school's new institutional plan.
Fusco has also given money to Padua Academy and Ursuline Academy, two Catholic all-girls schools.