CHICAGO (AP) — The Archdiocese of Chicago and a nonprofit say they’ll together invest more than $90 million over 10 years.
The money will cover 30 Catholic schools in lower-income neighborhoods on the city’s South and West sides.
Under the agreement, Big Shoulders Fund will donate $47.5 million to the schools serving 5,600 students and assume their financial risk.
Archdiocese of Chicago, partner Big Shoulders Fund to dedicate $90 million to 30 Catholic schools in lower-income communities: https://t.co/bKk2gzikpS
— Archdiocese Chicago (@archchicago) January 29, 2020
The archdiocese will provide $44.9 million. The deal also will let the archdiocese stabilize its annual operating aid for Catholic schools.
The agreement takes effect immediately and will support the 2019/2020 school-year budget.
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