Former Bishop Hendricken High School Board Member and 1969 alumnus, Thomas A. Freeman of Atlanta, Georgia, recently donated $50,000 in stock to his alma mater to be invested into The Bishop Hendricken Endowment Fund residing in the Catholic Foundation of Rhode Island.
The Catholic Foundation is a non-profit organization providing a means for individuals and organizations to ensure long-term financial stability for charitable, religious and educational institutions of the Diocese of Providence. Freeman, whose three sons, Thomas, Jr. ’99, Michael ’02 and John ’05, also attended Bishop Hendricken, noted that his lasting ties with the school allowed him to recognize not only the current needs of the school, but also the need for long-term financial sustainability.
His donation is the largest endowed gift received by Bishop Hendricken and will be used towards aiding tuition assistance programs for current students.
Freeman found a good fit for his donation choosing to invest in the Catholic Foundation of Rhode Island, which serves as the endowment arm of the diocese and its parishes, agencies and schools. With more than $70 million in assets and more than 300 endowed funds, the Foundation raises, manages and distributes these assets to the beneficiaries identified by the donors.
In the majority of cases, the interest earned from the funds is used for financial awards while the corpus of the fund remains untouched. Bishop Hendricken President John A. Jackson ’71 expressed his appreciation on receiving the donation stating “The Freeman family has been a blessing to the Hendricken community for many years, and we are so grateful to Tom and his wife, Joanne, for this generous gift which will be used to help young men experience the great education we have to offer.”