Originally known as the Regis-LaSalle Foundation, the Foundation was founded in 1977 with the purpose of raising money to establish a trust fund to provide long-range financial assistance to Regis and LaSalle High Schools.
The first capital campaign was launched in the fall of 1977 and a trust fund was established. By 1982 the Foundation Board of Directors voted to organize an annual fund raising appeal among the participating Catholic parishes followed by alumni and business appeals in 1984. A planned and deferred giving program was officially launched in 1992 with the celebration of the first annual Heritage Society reception and official induction of charter members.
In 1997, the Foundation launched the "A Proud Past...A Promising Future" capital campaign to build a new $15.9 million campus to merge Regis High School and LaSalle High School into one site later known as Xavier High School. The Board of Education issued low-interest tax-exempt bonds, backed by a letter of credit and guaranteed by the Archdiocese of Dubuque. The funds generated from the sale of the bonds were used for construction and related costs for the Xavier High School campus. With the tax exempt bond program, the fundraising goal for the building totaled $6.175 million. Funds raised during the very successful Capital Campaign totaled more than $7.6 million, including more than $675,000 set aside for restricted projects. Funds raised during the capital campaign, in addition to the annual funds, the existing fund balance, and the return on investment of the endowment funds over a twenty-year period will provide income to pay off the bonds.
A new era of Catholic secondary education in the Cedar Rapids metro area emerged when Xavier High School opened its doors in the fall of 1998. The Foundation became officially known as the Xavier High School Foundation in September 1998.
As of December 31, 2006, the Foundation endowment stood at $11.1 million. In addition, total aggregate funds contributed by the Foundation to Regis-LaSalle and later Xavier High School from 1978-2006 totals more than $10.6 million.
