Chaminade High School - Finances

Finances

In 1986, Father Philip Eichner, S.M. ('53), then the president of Chaminade, conceived of the idea of a permanent endowment fund to lower the cost of tuition at the school. The interest income generated from the principal would decrease the cost of the school's tuition. Together with Brother Gary Eck, S.M., the Director of Development at the time, Father Eichner envisioned the time when the school's tuition could be capped, if not eventually lowered. The fund is now known as the Torch Fund, and the Torch Fund's principal balance has grown dramatically over the years. For the 2012-2013 school year, interest from the Torch Fund covers $1,325 (14%) of the total tuition cost for each student, leaving the parent responsibility at $8,235.