In 2007, St. Mary’s conducted a Capital Campaign entitled “Investing in our Future”. The goal was to build up an Endowment Trust. The campaign initially generated about $600,000. In November 2011, it gained official status as a legal corporation. As of January 2015, market growth and additional donations had brought the total value up to $1,074,673.69.
The Board of Trustees consists of Bishop Callahan, Monsignor Michael Gorman, Fr. Sakowski and five lay parishioners: Richard Kneer, Dave Stearns, Charlie Thurner, Mike Buck and Mark Willer. The board meets at least once annually and exercises fiduciary oversight to ensure the following: 1) that the funds are invested responsibly; 2) that annual distributions are made; 3) that these distributions are used in a way that honors the purpose of the Endowment.
The purpose, as stated in our Endowment document, is as follows: “(a) Primarily for the reduction of school tuition at St. Mary’s Elementary School; (b) secondarily for tuition reduction at the Regis Catholic Schools’ Middle School and High School; and © for assistance to parish members attending Catholic Seminaries for the express purpose of ordination to the priesthood.”
As with every endowment, we never touch the principal. The idea is to receive annual distributions from the market earnings, year after year, while not spending the original gift. As a general rule of planning, you can hope to receive 3% annually. In other words, our Endowment should yield us an average of $30,000 per year, as long as God blesses us with a parish and a nation.
To date, all distributions have been used to help with the St. Mary’s Tuition Voucher program. The annual cost of this program is approximately $80,000. The Endowment will cover about $30,000 of it. Bingo provides another $25,000. Envelope giving covers the rest.
We’d like to ask you to prayerfully consider making a donation to the St. Mary Parish Endowment Trust as part of our Fr. Wilger Annual Appeal.
You can donate online via PayPal using the “Donate” button below. You can also donate by contacting Sharon Stearns at (715) 855-1294 or at stmarypar@gmail.com.
We are looking to connect with those who attended St. Mary’s Elementary School in order to encourage them to support the Endowment and, in turn, make a difference in the lives of current St. Mary’s Elementary School students.
If you are an alumni who would like to be added to our mailing list, please contact the Parish Office at (715) 855-1294 or at stmarypar@gmail.com.
You can also “LIKE” our St. Mary’s Elementary School Alumni Facebook page at https://www.facebook.com/StMarysElementarySchoolAlumni for information on the Endowment and what’s happening day-to-day at St. Mary’s Elementary!