The word “Schola” is Latin for “school”. The Schola Foundation was established in 1975 by a group of families who had the spirit of Catholic Education in their hearts. These families, concerned about the growing cost of Catholic education in the Mankato area, established the Schola Foundation to offer financial assists to Loyola and its students.
Since its inception, Schola has operated as an independent nonprofit organization under the direction of the Schola Board of Directors and is separate from the Dioceses of Winona and New Ulm. The Schola Foundation supports Loyola through its endowments and through unrestricted gifts. Since its founding, nearly 60 endowments have been established and efforts continue to establish new endowments in order to ensure long-term financial support for families who attend Loyola Catholic School. Since 1975, Schola has given in excess of $4 million to Loyola Catholic School.