We are happy to announce, with the support of Bishop da Cunha and the Office of the Chancery, that for the first time in our school’s history, Bishop Stang is solely in control of our own finances and is recognized by the IRS as a tax-exempt, non-profit organization. Bishop Stang has been operating since January 1st, 2024 under its own financial management accounts, and all funds, whether tuition or contributions, now remain under the school’s control. Gifts made to the school can now be appropriated to specific departments or interest areas and remain under Bishop Stang financial accountability. We are grateful for the confidence Bishop da Cunha and the Chancery have exhibited in granting to Bishop Stang the ability to oversee our finances.
With this new designation, the school's advisory board has now transitioned to a Board of Trustees with Shay Assad (‘68) serving as the Board of Trustees Chair. The Board does not get involved in the day-to-day operations of the school, rather it supports the strategic vision of Bishop Stang, ensures that the school adheres to Church doctrine, and has fiduciary responsibility to ensure the school makes prudent fiscal decisions. President James Benson reports to the board on all matters related to mission, academics, enrollment, finance, facilities, and student life. The Bishop William Stang High School, Inc. Board of Trustees reports to a corporate member group headed by Bishop da Cunha, Bishop of the Fall River Diocese.
The thirteen-member Board of Trustees is composed of members who have deep experience in areas such as business management, accounting, financial analysis, legal, marketing, and public relations. Chairman Shay Assad retired in 2019, after he served as the Department of Defense’s most senior and decorated Contracting professional overseeing 400 billion dollars in contract actions. Prior to his federal service, he served as one of two Raytheon Company Executive Vice Presidents; retiring in 2000. Nancy Fernandes (‘89) is Vice Chair. Nancy has an extensive financial background and currently serves as the Vice President of Mortgage/Commercial Properties for BayCoast Bank. We have several board members who are or have served as CEOs of their respective organizations.
It is fully expected that this major step in our history will sustain Bishop Stang for decades to come while bringing forth even more Spartan Pride in our community.