CHICAGO, July 17, 2025 /PRNewswire/ -- Josephinum Academy of the Sacred Heart is announcing a significant milestone in its history. Thanks to the unwavering support of its donor community and a landmark partnership with the Pulte Family Charitable Foundation's Catholic Initiative, the school has secured its future—not just for the 2025-2026 school year, but for generations to come.

Through this collaboration, the Jo, as generations have referred to the 135-year-old high school, has raised the full $9.4 million needed to acquire the historic campus at 1501 N. Oakley Blvd., which it has leased since 1985. Ownership will now transfer to a dedicated nonprofit stewarded by The Catholic Initiative, ensuring that Josephinum Academy retains exclusive and permanent rights to operate on the campus through a renewable 200-year lease set at just $1 per year. This innovative, Vatican-approved model provides long-term financial and operational stability, allowing Josephinum to focus on what matters most: academic excellence, spiritual formation, and student success.

"This is a historic moment for Josephinum," said Richard McMenamin, President of Josephinum Academy. "Thanks to the generosity of The Catholic Initiative and our community of supporters and benefactors, we will continue to uplift students—particularly young women from under-resourced neighborhoods—through a Sacred Heart education rooted in academic excellence and spiritual growth. This is a remarkable commitment by The Catholic Initiative—investing in a Catholic school community that regularly experiences limitations. It transforms financial fears and anxieties into hope and promise."

The Catholic Initiative's model is designed to alleviate the constant financial pressure facing Catholic institutions. Under this approach, property is held by a long-term steward aligned with the Church's mission, while the school operates with autonomy through a symbolic lease of $1 per year. It's a bold, scalable framework that enables Catholic schools to thrive without worrying about the uncertainty of their physical home, while also benefiting from the leadership and expertise that The Catholic Initiative provides on facility restoration, fundraising, endowment management, and philanthropic partnerships.

With the campus acquisition complete, Josephinum now turns to its next chapter: undertaking a renovation to repair and modernize the historic facility while honoring its architectural legacy. While the full scope is still being determined, the effort will focus on strengthening the learning environment, ensuring the campus continues to reflect the excellence of a Sacred Heart education, and seeking ways to broaden its community engagement through creative partnerships.

Currently, the majority of Josephinum students receive full scholarships. To ensure continued access and long-term sustainability, a multi-year capital campaign is underway to raise $20 million in endowed support. This endowment will help fund scholarships, academic programming, and operational needs, allowing Josephinum to serve generations of young women with confidence and continuity. Donors across the country are invited to stand alongside the school in realizing this bold vision for the future of Catholic education in Chicago.

"Josephinum already embodies the best of Catholic education—faith, excellence, and service," said Kevin Doyle, President of The Catholic Initiative and COO of the Pulte Family Charitable Foundation. "Our role is to help safeguard that legacy and equip the school with the long-term tools it needs to flourish for decades to come."

This effort is part of the Pulte Family Charitable Foundation's broader $111 million "Legacy of Hope" initiative, which aims to preserve and strengthen iconic Catholic institutions across the country. To learn more about The Catholic Initiative and how you can support Josephinum Academy, please visit thecatholicinitiative.org.

About Josephinum Academy of the Sacred Heart

Josephinum Academy of the Sacred Heart offers academic excellence combined with holistic, moral, and spiritual development in an affordable college-preparatory environment for girls in Chicago. The school serves a diverse population of young women representing 20 different nationalities and 35 zip codes. Independent data shows that Josephinum Academy graduates consistently outperform their peers from urban schools in college matriculation and college completion rates.

About The Catholic Initiative

The Catholic Initiative is an innovative, Vatican-approved funding model created to restore and endow vibrant Catholic churches, schools, and parishes for generations to come. The model is the first of its kind in the world in faith-based fundraising and shifts ownership of church buildings and campuses to a newly created nonprofit organization created solely for this purpose, with the Catholic Initiative assuming responsibility for renovating and maintaining the property going forward, while the parishes or schools retain exclusive and permanent rights to use the property, without risk of vital funds being redirected to other purposes. The model also creates a dedicated endowment to guarantee a reliable, steady income stream to support churches, schools, and parishes long into the future. Find out more at www.thecatholicinitiative.org.

About The Pulte Family Charitable Foundation

Guided by the belief in the inherent dignity of all people, the Pulte Family Charitable Foundation works to meet the basic human needs of the most marginalized members of the human family, including socioeconomically disadvantaged youth; the aged; persons with physical, emotional, and mental disabilities; and those with the fewest material resources. In addition to the above, the Foundation seeks to serve religious communities and correlative organizations of Judeo-Christian beliefs. To this end, the Foundation strives to enact through its grantees the Seven Corporal Works of Mercy: feed the hungry, give drink to the thirsty; clothe the naked; care for captives; shelter the homeless; visit the sick, and assist the mourning.

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SOURCE The Catholic Initiative