A group of dedicated alumni have saved a New Jersey Catholic high school from closing.
The group stepped in to rescue Holy Cross Academy in December when the Diocese of Trenton announced it would no longer support the Delran school. The group established a founding board and raised $500,000 to replace the diocese's subsidy.
Tuition will make up 90 percent of the school's $4 million budget. Board members also hope to raise an additional $250,000.
The board and diocese officials signed a 20-year lease for the campus on Tuesday. Officials say the school will announce its new principal in the coming weeks.
Board members say the newly minted Holy Cross Preparatory School will be an independent Catholic school when students return this fall.