Many students want to come to GCC, but parents feel that they cannot afford the tuition and several struggle. We need to increase the endowment significantly so that at least $100,000 can be provided from that fund to provide tuition assistance. In addition, we need to increase our business contacts, where businesses are willing to provide us with EITC or OSTC funds for additional tuition assistance. I believe that a student body of 500 is possible to sustain with financial stability.
At a little over $2 million, tuition is our main source of income. The diocese gives us a little over $650,000 in support and is our main contributor to funding beyond tuition. We are asked to raise about $150,000 annually to support additional programs in the budget. This year, there will be a technology fee of $350 per student to support the IT technician in the school and the cost of increased bandwidth, as well as the cost of the computers. All of the computers have been reimaged this summer with updated software.
Our costs are the salaries of staff, including benefits, at over $2 million dollars. New programs and equipment cost over $150,000, In addition, we have the cost that all of you have at home in lighting and heating the building.
Our teachers are unionized contracted employees of the Diocese of Greensburg, and have the benefits prescribed by a negotiated contract. Their salaries and benefits are negotiated, and I believe receive a reasonable salary, but it is far below what they could earn in a public school.