The SPICE (Supporting Parish Investment in Catholic Education) dinner is held annually in June to benefit the Christ the King Educational Trust. The Educational Trust was formed in 1979, under the direction of Monsignor Robert J. Gass, to ensure the availability of a Catholic education to all children of the parish. Many parishioners worked closely with Msgr. Gass to raise the initial money for the Trust. This Trust has been managed by a Board of Trustees since its inception, and now has assets of over $5.4 million.
The money in the Trust comes from many sources. First, the assets are invested and any interest earned is returned to the Trust. Additional growth comes from donations, gifts from estates, and fundraisers such as SPICE.
Since its inception, the Educational Trust Fund has provided the money necessary for tuition assistance and for many special projects. These improvements have been and will continue to be important to the long-term vitality of the school and parish. If the funds were not available within the Trust, the money would be sought through the parish budget, higher tuition, special assessments, or further funding.
Since 1992, over $3.9 million has been spent from the Trust to address requirements of Catholic education at Christ the King.
The long-term goal is to grow the Trust to $10 million in order to pay one-third of the operating budget of the school through interest earned. This change will secure the financial future of Christ the King school, and enable the parish to use more of its budget on other parish needs.