Giving

Endowments & Scholarships

A gift to the Seton Hall Preparatory School Endowment is a powerful way to ensure that The Prep continues to thrive for generations to come. Endowed support provides long‑term financial strength, allowing The Prep to advance its mission with purpose and stability. The Seton Hall Prep endowment exists to sustain the deliberate and mission‑driven work of the school, strengthening key priorities such as financial aid, scholarships, innovative academic programs, and the pursuit of excellence in all facets of a Prep education.

To learn more about SHP’s endowment needs and how you can support them, please contact James Boyle, Director of Institutional Advancement, at 973-736-6861 or jboyle@shp.org.

Endowment Q&A

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Does Seton Hall Prep Have an Established Endowment?

Yes. The endowment of Seton Hall Prep consists of two sets of funds:

Pure Endowment. These funds were restricted by the donor upon the onset of the gift to The Prep, to be held in perpetuity. The growth and income on these funds may be utilized in accordance with the policies set out by the Board of Trustees, but the principle must remain intact. These may or may not be restricted in their use. The most common restriction on the use of the proceeds from these funds is scholarship and financial aid.

Funds Functioning as Endowment. Sometimes referred to as quasi-endowments, these are funds that the institution has determined are to be retained, managed, and invested as if they are endowed. These funds add to the long-term security of the institution, in that they experience the same growth and receive distributions like a pure endowment, but the principal of these gifts can be accessed by the vote of the trustees as needed.
How Does a Gift to the Endowment Work?
In this step-by-step illustration you will see how an endowment gift works, the benefit to current Seton Hall Prep students, and how such a gift will serve the future of The Prep as well.
An Alumnus makes a $250,000 gift to The Prep’s endowment to establish a scholarship in his family’s honor.
The donor signs a Letter of Intent, which expressly indicates that the principle gift will be held in perpetuity for the benefit of Seton Hall Prep, and used in accordance with the donor’s wishes.
The Board of Trustees authorizes the investment of the gift with its fund manager, in the Seton Hall Prep endowment funds.
A pre-determined portion of the annual return (presently set at 5% of the average market value during the previous three fiscal years) is distributed to Seton Hall Prep to award a scholarship in the name of the donor’s family. The fund’s principal remains intact.
Any growth in excess of the annual distribution may be reinvested to generate growth in order to meet the needs of future scholarship recipients.
Numerous and Long-term Benefits:
A talented student receives financial support.
Seton Hall Prep can recruit and retain top students, regardless of their ability to pay.
A steady revenue stream allows the school to plan for the future.
The donor’s family is remembered with a legacy of generosity that will change lives, and transform the world.
This example is just one of the many ways endowed gifts can have an impact. In addition to scholarships, donors can endow faculty chairs or make an unrestricted endowment gift to assist in the area of greatest need.
What is An Endowment Distribution Used For?

Presently, most of the distributions from our endowed funds are utilized for either merit scholarships or financial aid.

This ensures the vision of Msgr. Michael E. Kelly ‘57:
That every young man who wants a Seton Hall Prep education and can meet our rigorous admission standards can benefit from The Prep experience.
How Are Seton Hall Prep Endowment Funds Managed?

Seton Hall Prep will place all gifts to endowment into a separate pool of funds, invested and managed by an outside fund manager. The Finance Committee of the Board of Trustees reviews the performance of these investments annually. To review our audited financials, please contact the SHP Controller, Tim Glackin at tglackin@shp.org.
Is There a Minimum Gift Amount Required for the Endowment?

No! Any gift to the endowment will be deposited into the unrestricted investment pool. However, in order to set up a new, named pure endowment fund with a restricted purpose, a minimum of $250,000 is required.
What are My Options to Give a Gift To the Endowment?

A gift to the endowment is such an important endeavor that Seton Hall Prep will work with you to structure a pledge that can be fulfilled over a number of years, with a gift of appreciated stock, or even through an estate plan gift. Please contact James Boyle, Director of Institutional Advancement, at 973-736-6861 or jboyle@shp.org for more information.

Endowments

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McMullen Family Endowment for STEM and Robotics

Established in 2024 as part of the Forming Hands-On Servant Leaders capital campaign, the endowment will raise $750,000 for current and future development of STEM and Robotics programs at Seton Hall Prep. Funds in the endowment will provide unrestricted, long-term support including student assistance/scholarship, programmatic activities, and improvement of facilities and technology.
The Seton Hall Prep Endowment for the Arts

Established in 2025 as part of the Forming Hands-On Servant Leaders capital campaign, the endowment will raise $1M for current and future development of Arts programs at Seton Hall Prep. Funds in the endowment will provide unrestricted, long-term support for the Arts, including student assistance/scholarship, programmatic activities, and improvement of facilities and technology in performance and studio space.

Scholarships

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The Anthony R. Volpe, DDS, MS ’50 Scholarship Fund

This endowed scholarship fund, established by Dr. Volpe and his wife, Marlene, honors students of high academic standing who require financial assistance and may otherwise be unable to attend Seton Hall Prep. The scholarship is awarded to an underclassman who demonstrates academic excellence and has need‑based financial aid.
The Billy Zimmerman ’11 Scholarship Fund

Established in 2013, this fund honors the memory of Billy Zimmerman ’11, who tragically passed away. Billy was a proud graduate of The Prep, a talented athlete, and an integral presence on the soccer team that won the state championship in 2009 and the Essex County Championship in 2010. This endowed fund is awarded annually to one or more students who exemplify the personal interests, strengths, and involvement that helped endear Billy to all who knew him.
The Brett T. Bailey Foundation Scholarship

This scholarship fund was established in 2001 in loving memory of Brett T. Bailey ’91. It is awarded to deserving students and families who embody Brett’s spirit.

“His engaging smile, adventurous spirit, loyal friendship, and ready hospitality endeared him equally and effortlessly to many walks of life - children and seniors, the loved and the unloved, the radiant and the plain, but mostly there were the significant souls in between. His wide reach of friendships was driven by his broad interests and hobbies.” (btbgives.com)
The Cento Amici Scholarship at Seton Hall Prep

Antonio ’11, JonPaul ’14, and their father, Rick Froio, are members of Cento Amici (100 Friends), a community‑based Italian American organization dedicated to providing need‑based scholarship assistance to qualified students. The Froio family’s love and devotion to The Prep led to the establishment of this scholarship in 2021.
Christopher Maguire Memorial Scholarship Fund

Established in 2005 by Paul E. Maguire ’60, this fund honors the memory of his son, Christopher P. Maguire ’90. This endowed scholarship is awarded annually to one or more students admitted to Seton Hall Prep who demonstrate perseverance in the face of life’s challenges.
Class of 1959 Scholarship

In 2000, members of the Class of 1959 established a scholarship fund for students who demonstrated financial and/or social need.
Daniel R. O’Callaghan ’83 Scholarship Fund

This scholarship fund was created in memory of Daniel by his father, Patrick. Daniel was one of three brothers, Patrick ’77 and Kevin ’81, who attended The Prep. This scholarship is awarded annually.
The David Mosier ’10 Memorial Scholarship

In memory of David Mosier ’10, this endowed scholarship was established in 2011 and is awarded to an admitted student whose family demonstrates financial need and who might otherwise be unable to attend The Prep.
The Delmiro & Marina Rodriguez Scholarship Fund

This fund was created in honor of Delmiro and Marina Rodriguez by their son, Antonio, who graduated from The Prep in 1975. Delmiro and Marina chose Seton Hall Prep instead of Newark’s East Side High School after St. Benedict’s closed, a decision that changed Antonio’s life, and for which he remains forever grateful. This scholarship supports a student from the Greater Newark Area who is in financial need and who might otherwise be unable to attend The Prep.
Donald William Yaw Memorial Fund

Since 2003, this award has been given annually to a member of the Senior Class who, through outstanding achievement in academics, athletics, and the arts, demonstrates all‑around development and exemplifies the best use of the opportunities offered at Seton Hall Prep.
The Elise E. and Joseph W. Beck Memorial Fund

Established and endowed in 2011, this fund supports an annual scholarship for student(s) enrolled at Seton Hall Prep who demonstrate financial need. Students who receive this scholarship are known as “Beck Scholars”.
The Finney Family Scholarship

This family scholarship was established by Reed and Susan Finney, whose three sons, John Jr. ‘15, Brendan ‘17, and William ’20, attended The Prep. The scholarship recognizes the impact and important role Seton Hall Prep played in reinforcing the values and life lessons their parents taught at home.
The Fusco Family Award

This award is a tribute to the life of Anthony Fusco ’35. It is presented annually by the Fusco Family to a faculty member who has made an extraordinary contribution to technological innovation at The Prep.
The Honorable Thomas R. Farley ‘44 Seton Scholars Scholarship Program

The Seton Scholars Program was established in the fall of 2006 by Tom Farley, then a member of the Board of Trustees, to raise the level of academic rigor at The Prep. Tom Farley passed away in 2013, and the program was endowed with the support of the Farley family and renamed in his honor.
The Jim Cunningham Scholarship

James Cunningham, Class of 1984, was an alumnus who represented the very best of the Seton Hall Prep community, an SHP culture carrier whose early life was shaped by his Prep experience, and a lifelong friend and brother who positively impacted countless others through his service and commitment to family and community. This endowed fund is awarded to one incoming freshman who has demonstrated perseverance in the face of academic or personal challenges.
Larry Rovelstad Chamales Scholarship

Larry began teaching at Seton Hall Prep in 1979. During his time at The Prep, he taught science, history, English, and creative writing. He served as an advisor to The Spectrum and enjoyed skiing with the ski club. Larry was still teaching at The Prep at the time of his sudden and tragic death on July 26, 1984. This scholarship helps young men continue their education at The Prep who, because of family difficulties, might otherwise be unable to remain.
The Matthew C. Sellitto ’96 Scholarship Fund

This fund recognizes the tremendous impact of one individual and is awarded as The Eugene W. (Gene) Mulvihill Award. In memory of Gene, this scholarship is given to an incoming freshman who has been accepted into the Thomas J. Griffin Bridges Program.
The Michael Alfred Frungillo Foundation Endowed Scholarship

This scholarship is intended for a Seton Hall Prep student entering his junior or senior year. Preference is given to students who intend to pursue the study of Italian in college.
The Rev. Msgr. Michael E. Kelly ’57 Scholarship

Established by an alumnus from the Class of 1975, this scholarship recognizes the impact made over 50 years by school President Msgr. Michael E. Kelly ’57. The scholarship is awarded annually to a student who demonstrates appropriate financial need.
Michael J. Michitsch ‘88 Scholarship Fund

Established by Herb and Mary Michitsch in 2012 upon the passing of their son, this fund helps support a young man in need of tuition assistance.
The Nicholas Scalera ’59 Scholarship

This scholarship is presented to one student admitted to Seton Hall Prep whose family demonstrates financial need.
The Richard E. Binkowski H’97 Scholarship

Established in 2019, this scholarship pays tribute to a legendary teacher affectionately known as “Bink.” A formidable classicist and an extraordinarily warm man at heart, Bink demanded the very best from his students, with a special emphasis on effort and preparedness.
Theresa Minish Scholarship Fund

In 1992, Theresa and Joe Minish established a scholarship fund to help deserving students attend The Prep. Upon Theresa’s passing, the scholarship was dedicated in her honor. Theresa and Joe sent their sons, George ’61 and Jim ’69, to The Prep.
Todd M. Galante, Esq. ’79 Scholarship Fund

Established in 2008 by Mr. Galante, this scholarship is awarded to a student with an interest in pre‑law, which may also include related fields such as political science, history, or English.
The Tony Esposito Jr. Scholarship Fund

This scholarship was established by the family of Anthony Esposito Jr. ’07. In memory of Tony Esposito Jr., this award is presented to a Seton Hall Prep senior who exemplifies the same personal interests, strengths, and involvement that helped endear Tony to all who knew him.

Specifically, the recipient of this award will be a four‑year member of the football team, not necessarily the star player, but a young man whose consistency of commitment, enthusiasm, and love of the game were evident through his devotion to the team, even during difficult times, throughout his four years at The Prep.