CHICAGO, July 17, 2025 /PRNewswire/ — Josephinum Academy of the Sacred Heart is announcing a significant milestone in its history. Thanks to the unwavering support of its donor community and a landmark partnership with the Pulte Family Charitable Foundation’s Catholic Initiative, the school has secured its future—not just for the 2025-2026 school year, but for generations to come.

Through this collaboration, the Jo, as generations have referred to the 135-year-old high school, has raised the full $9.4 million needed to acquire the historic campus at 1501 N. Oakley Blvd., which it has leased since 1985. Ownership will now transfer to a dedicated nonprofit stewarded by The Catholic Initiative, ensuring that Josephinum Academy retains exclusive and permanent rights to operate on the campus through a renewable 200-year lease set at just $1 per year. This innovative, Vatican-approved model provides long-term financial and operational stability, allowing Josephinum to focus on what matters most: academic excellence, spiritual formation, and student success.

“This is a historic moment for Josephinum,” said Richard McMenamin, President of Josephinum Academy. “Thanks to the generosity of The Catholic Initiative and our community of supporters and benefactors, we will continue to uplift students—particularly young women from under-resourced neighborhoods—through a Sacred Heart education rooted in academic excellence and spiritual growth. This is a remarkable commitment by The Catholic Initiative—investing in a Catholic school community that regularly experiences limitations. It transforms financial fears and anxieties into hope and promise.”

The Catholic Initiative’s model is designed to alleviate the constant financial pressure facing Catholic institutions. Under this approach, property is held by a long-term steward aligned with the Church’s mission, while the school operates with autonomy through a symbolic lease of $1 per year. It’s a bold, scalable framework that enables Catholic schools to thrive without worrying about the uncertainty of their physical home, while also benefiting from the leadership and expertise that The Catholic Initiative provides on facility restoration, fundraising, endowment management, and philanthropic partnerships.

With the campus acquisition complete, Josephinum now turns to its next chapter: undertaking a renovation to repair and modernize the historic facility while honoring its architectural legacy. While the full scope is still being determined, the effort will focus on strengthening the learning environment, ensuring the campus continues to reflect the excellence of a Sacred Heart education, and seeking ways to broaden its community engagement through creative partnerships.