U.P. Catholic Foundation has eye on the future

There are lots of ways to give a gift. Some meet an immediate need or two. Cookies from a bake sale at church can help a youth group take a trip, or be a gift themselves when given to a homebound person who could use some cheering.

Other gifts can last through the years. The U.P. Catholic Foundation is one avenue for this type of giving. A gift to an endowment fund will last forever. Only a portion of the income generated from donations is spent. An endowment fund can create long term financial security for an organization.

Parish Endowment Funds

Parishes in the Diocese of Marquette are working to ensure continued financial stability for the future by starting endowment funds.

Father Allen Mott has taken an important step in establishing a parish endowment for St. Anthony in Gwinn. He understands the value of its growth over time and has committed to not taking distributions until the fund has reached a substantial level of worth, thus ensuring the fund will provide perpetual income for parish needs long into the future.

“Over time I have grown to love being generous with what God has given me! The natural result of being generous now with people I know leads me to want to help unknown people in the future,” shares Father Al.

Endowment Funds For Catholic Schools

The 2019 fiscal year saw the culmination of the Catholic School Endowment Challenge. Bishop John Doerfler, in partnership with the U.P. Catholic Foundation, offered all diocesan schools a generous challenge gift to boost school endowment giving and help Catholic Schools manage their operating costs over the long term.

Eight new diocesan school endowment funds were started as a result of this challenge and all schools received a distribution at the start of the 2019-20 school year.

St. Mary’s Catholic School (SMCS) in Sault Sainte Marie took a unique approach to their new endowment fund. School administrators at SMCS have been concerned that young, talented teachers often receive 1-2 years of training at SMCS, but then leave the school for higher compensation in neighboring districts. By establishing the SMCS Staff Support Endowment Fund, St. Mary’s hopes to secure long term financial stability to pay their teachers a just wage for years to come.

“It is our hope this new staff salary endowment will assist us in retaining new teachers and show our great appreciation of seasoned staff who love sharing their faith with a new generation of Catholics,” says SMCS principal Hedy Yanni.

Ways to Give

Gifts to the UPCF may be given to any existing fund or a new fund can be established. Funds are commonly established to remember a special person, such as a relative, favorite teacher, or priest, or in honor of an important date, like an anniversary or retirement.

Popular gift types to endowment funds include:

• Check
• Stock
• Bequest in Will
• Beneficiary designation on IRA, Life Insurance Policy, or Bank Account
• Charitable Gift Annuity
• Real Estate
• Trust Designation

Charitable goal intentions should be discussed with family and financial advisors so the most good can be accomplished for favorite charitable causes.

To learn more about the U.P. Catholic Foundation visit http://upcatholicfoundation.org/ or call Terri Gadzinski at (906) 227-9108. Donations to the Foundation can be made online or by mail: UPCF, 1004 Harbor Hills Dr., Marquette, MI 49855