News

The Howley Foundation, led by founders Nick ’70 and Lorie Howley and Executive Director Meg Howley, have announced a $12 million gift to expand the successful Howley Scholars Program at St. Joseph’s Prep. The largest gift in school history, this donation will provide scholarships for 60 students across four classes each year.

Thanks to the Howley Foundation, these scholarships will create opportunities for academically talented young men whose families demonstrate financial need to attend the Prep. The recipients are selected through the Prep’s Admissions process.

President John Marinacci is extremely grateful for the donation and what it means for Prep students. “This gift is monumental,” he says. “There will be 60 Howley Scholars in the school every year. This is a transformational opportunity for each of those young men and their families, and on this scale, will create a positive impact within communities as well. We are grateful to Nick, Lorie, Meg, and the foundation for their support and proud to partner with them in changing lives.”

The name Nick Howley is well-known to the St. Joseph’s Prep Community. The state-of-the-art Learning Commons created through the For Others Forever Campaign, bears his name and many Prep students have already benefited from being part of the Howley Scholars Program.

“The Prep is so fortunate to share such a close and impactful relationship with the Howley Foundation, through our partnership with Nick, Lorie, and Meg,” says Betsy Courtney P ’08, ’10, Vice President for Institutional Advancement. “Nick’s commitment to scholarship and financial aid at the Prep is a demonstration of an alumnus, like so many of his fellow Prep Hawks, who never forgot his experience here and the mission of our school. He, Lorie, and Meg are true examples of Men and Women for and With Others.”

The Howleys have become increasingly involved at the Prep over the past decade and, despite his intention to cut back on board memberships, Nick Howley chose to join the Prep’s Board of Trustees in 2023.

“I became increasingly impressed with the school and the progress and trajectory of the institution,” Howley says. “I wanted to be a part of it.”

The Howleys see the outcomes of their investment in the Prep. “Of course, we started as believers in the Prep but what we have seen during our time working with school leadership including John (Marinacci) and Betsy (Courtney) has been remarkable,” says Howley. “We are very comfortable making a large, long-term commitment.”

Several years ago, the Howley Foundation started the program at the Prep by committing modestly for a small number of students. Nick said that is the process that the Foundation follows at each institution with which it partners.

“We look at our philanthropy as a lot like investing,” he said, “you have to show a good yield. With our Scholars Program, we need to see how many students the school can attract, how it supports the students, and then what are the outcomes. We have seen the success of the Howley Scholars Program at the Prep over time and it is outstanding.”

Howley says that the Howley Scholars at the Prep are “good, functioning members of the academic community and they are a good fit for the school.”

“We have been there 10-12 times over the years and each time we emerge impressed by the students and the way the school continues to grow,” Howley says. “We want to be long term partners with the Prep.”

Nick and Lorie started the Howley Foundation in 2003 to offer access to high-quality education to students who could not get it otherwise due to their financial situation. Since the first days, the Foundation has grown steadily to now distribute $30 million per year to schools mostly in Philadelphia and Cleveland as well as a few national networks. There are now five employees of the Foundation, including Meg Howley who serves as the Executive Director of the Foundation in Philadelphia, and the Prep is one of the Foundation’s flagship programs.

“Throughout its long history, St. Joseph’s Prep has been committed to providing a high-quality Jesuit education to the best and brightest students from across the socio-economic spectrum, a commitment that lines up very well with our goal at the Foundation,” Howley says.

Nick Howley, a graduate of Drexel University and the Harvard Graduate School of Business, is the Chair/Founder of Transdigm Group Inc., a NYSE-listed company and one of the largest global producers, designers, and suppliers of engineered aerospace components, systems and subsystems with approximately 20,000 employees and 120 worldwide locations. He is also Founder/Chairman of Perimeter Solutions, an NYSE-listed company and the global leader in the development and manufacture of forest firefighting products and services. That success has enabled him the ability to support a cause near to his and Lorie’s heart: access to a high-quality education to those who would not otherwise be able to afford it. The Howleys firmly believe that education is one of the most important catalysts to promote positive change in individuals and society as a whole.

Photo: Nick Howley ’70 and Meg Howley with Howley Scholars from the Class of 2024.