Sunday, March 03, 2002
Elder gets gift of $1 million
Class of '25 grad leaves endowment for scholarships
By Sarah Buehrle
Enquirer Contributor
Edward F. Tank Donohoe came through for his high school alma mater one last time.
A former football and baseball player for Elder High School (Class of 1925), Mr. Donohoe was philanthropically involved with the school the last 20 years of his life.
Elder learned recently that Mr. Donohoe, who died in November 2000, had bequeathed the school its largest individual donation ever, a $1 million endowment, to be used for tuition-assistance scholarships.
He always said he wished that someday Elder could have no tuition, said Toby Heile, Elder's director of economic development. His heart was in what he said.
The $1 million will be kept to accrue interest used to provide need-based scholarships. Mr. Heile said that trustees have not yet determined where to house the endowment, but that a fair estimate of the interest Elder expects to earn from the endowment is 6 percent, or $60,000, annually.
The endowment will continue indefinitely to aid needy students, according to principal Tom Otten.
This year, Elder granted $750,000 in tuition aid to 450 students, almost half of its student body, according to Mr. Heile. Tuition for one year at Elder, an all-male Catholic school in Price Hill, is $5,100 per year.
Mr. Donohoe, co-founder of J.A. Kindel Office Supply, created a trust for Elder in December 1982 with a few thousand dollars. He added to the trust annually before creating a second trust in 1993.
In addition, he donated to the school's 1992 capital campaign to renovate the school and donated office supplies annually.
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