Development Fund

Originally, the Development Fund was created for the funds raised to reinstate the 7th and 8th grades in 1990. After the portables were purchased and installed, classroom supplies were purchased, and the junior high grades rededicated, the School Commission kept the fund open for future funding needs. Over the years, the funds have been used for one time purchases and expenses for items such as the lunch room tables, Mrs. Campbell’s salary her first year at St. Vincent’s, the first computers for every teacher, computers for the computer lab, finishing the upgrade of Penny’s Park, and completing the purchase of the blackout shades in the gym. Prior to the establishment of the Endowment Fund, the Commission considered turning the Development Fund into an Endowment, but decided not to do this for two reasons. First, once funds are placed in the Endowment Fund they can’t be removed from that fund, and secondly, the Commission felt that since we do not have a reserve account, that these funds could continue to be used for one-time expenses, as emergency funds if needed, or for other projects/purchases/expenses as determined by the Commission upon recommendations by the Principal. The money in this fund has come from donations/gifts to the fund and unrestricted gifts.