$100K Donation Kicks Off Salem Academy Endowment Fund

SALEM, MA — Salem Academy has begun its inaugural endowment fund through a $100,000 gift that was the largest-ever for the 18-year-old public charter school.

The school said Richard and Diane Pabich bestowed the gift to the school.

"We sincerely believe that Salem Academy excels in providing an excellent education to a diverse community of Salem students," the Pabichs said in a statement through the school. "Our gift is intended to offer scholarship assistance for these students as they pursue their future education."

Salem Academy Executive Director Stephanie Callahan called the donation "an endorsement for the education that Salem Academy has provided to the Salem community for the past 18 years."

"As we enter our third decade in 2024, we are uniquely positioned to grow our alumni support network," Callahan said. "We hope to build upon this incredible gift to continue supporting our students as they pursue their dreams of college.

"I am truly grateful for the support of the Pabich Family and the opportunities they have afforded our students over the years."

Callahan said the school will use the endowment as a base of funds to help provide the scholarships to graduating seniors.

The Salem Academy Foundation will work with Cabot Wealth Management to invest the funds.

Salem Academy Charter School opened its doors to sixth and seventh graders in September 2004 with the promise to serve the diverse population of Salem. Salem Academy now serves more than 480 students in grades 6 through high school.

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at Scott.Souza@Patch.com. Twitter: @Scott_Souza.)