The Foundation was established by a trust agreement requiring a board of directors. The first board included original grantors Barrett, Beyer, and Sunderbruch. They were joined by John Kahl Figge, Eugene D. Glickman, Eda P. Hofmann, Richard A. Shultz, Michael P. Underwood, and Robert A. VanVooren. Over the years, the Assumption Foundation has contributed more than $600,000 to the support of Assumption High School.
Our mission, as a non-profit corporation, governed by a volunteer Board, is to advocate for and advance the excellence of Catholic education at Assumption High School, and in the Catholic elementary schools of Scott County.
In 2004, the Assumption Foundation for K-12 Schools became a catalyst for securing the future of Catholic school education in Scott County when it stepped forward to lead the Embracing Our Future campaign.
There is not now, nor has there ever been, any periodic financial reporting from the Assumption Foundation to the Diocese of Davenport. Banking relationships and investment decisions of the Foundation are determined with complete independence. The Foundation has its own FEIN number and is a 501(c)3, incorporated in the State of Iowa. The Foundation's trust agreement requires it to be controlled by a lay board.