Three decades ago in June 1990, Frank Pasquerilla and Jim Saly approached Bishop Adamec with an idea to form a foundation lead by the laity that would initially provide endowment support to Catholic schools. What began with endowed funds of $218,667 has blossomed into a $33 million portfolio with 260 active endowments, each with funding restrictions for specific purposes: cemetery perpetual care, parishes, schools, student scholarships, vocations and ministries.
Most important, however, is the cumulative harvest that has been cultivated from the portfolio throughout these thirty years. Including this summer’s distribution, that harvest will approach a cumulative $13 million – a result of ordinary Catholics (ordained and lay) who have made extraordinary decisions with bequests, insurance policies, retirement accounts, annuities, gifts of stock, etc.
We are excited to announce that we are poised to make available a record $1.45 million this summer to our endowment beneficiaries at a time when parishes, schools, and ministries have faced unanticipated financial losses due to the coronavirus shutdown.
Three years ago, an unrestricted bequest allowed us to launch our Impact Grant program that provides additional funding to parishes, schools and ministries. Our two year grant total of $67,308 includes recent grants to help parishes stay connected with parishioners through technology solutions. Applications for our third grant cycle will be published later this month.
We are grateful to our past and current trustees for their governance of the foundation. And we express our deepest appreciation to the thousands of lay and ordained Catholics who have entrusted a portion of their financial resources to us for the sake of the present and future local Catholic Church. To learn more about our mission as the only charitable foundation dedicated to supporting Catholic causes in our diocese, please explore our full website where you will find a list of our endowment funds, learn about our Catholic values investing, meet our current Trustees, review our audited financial statements, find resources about parish and school partnerships, and much more.
Even after 30 years, not all of our parishes, schools and ministries benefit from endowment revenue. We continue to engage with parishioners who wish to make a long-term difference with the resources God has given them. A decision today to support or create an endowment will make a difference in the lives of Catholics for generations to come. Please reach out to us for a confidential conversation about your wishes for your own Catholic legacy.