Shortly after his arrival in the Diocese of Saginaw in February 2005, Bishop Carlson asked that a legal entity be created that could securely hold funds donated by the people of the diocese. His request was that funds be invested in a socially responsible manner, in investments that are consistent with the values and principles of the Catholic Church.
The result was the creation of the Catholic Community Foundation of Mid-Michigan, (better known as the CCFMM) a non-profit corporation, formed under Michigan law, and that is qualified under 501 (c ) (3) of the federal tax code.
The Foundation is designed to: 1) be a vehicle to simplify charitable giving to causes the diocese supports; 2) foster and encourage higher levels of giving; 3) enable the assets to receive more efficient professional investment services at lower fees than smaller endowments often pay; 4) better safeguard investment assets 5) offer donors more complex methods of giving that include paying an income stream for life.
All Catholic schools of the diocese have an Endowment Account and several parishes have also created an endowment. In addition, a large number of donors have created funds.
The following is a brief chronology of the evolution of the Foundation:
February 2006 — Board of Trustees met for the first time; officers were elected; Articles of Incorporation were accepted by the State of Michigan.
July 2006 — The CCFMM received its first million dollar gift through a Charitable Gift Annuity.
November 2006 — A booklet describing the CCFMM and announcing Catholic Federal Credit Union’s one-half million dollar matching gift program was sent to every envelope holder of the diocese.
December 2006 — At the end of the calendar (and fiscal) year, the CCFMM had nearly $4.4 million in assets and 28 donor created endowment accounts.
June 2007 — Following several meetings with members of the Roman Catholic Diocese of Saginaw Catholic School Foundation, all but one school completed the process of transferring funds to the CCFMM.
July 2007 — Catholic Federal Credit Union conducts a second half-million dollar matching gift program with funds from the credit union going into endowment accounts named by the donor.
December 2007 — At the end of the year, the CCFMM had approximately $12.7 million in assets and 102 endowment funds.
May 2008 — Dan McKune is appointed as the second Executive Director of the CCFMM.
December 2008 — At the end of the year, the CCFMM had assets of about $10.2 million with 182 endowment accounts.
February 2009 — The Legacy of Faith Major Gifts Initiative for Saginaw and Bay Area Catholic Schools began its quiet phase.
November 2009 — the 200th Endowment Agreement was created.
December 2009 — At the end of the year, preliminary, non-audited figures indicate CCFMM assets of about $14.35 million.
December 2010 – At the end of the year, the CCFMM had assets of $17.015 million.
February 2011 – CCFMM lifetime grants surpass the $1 million mark.
May 2011 – Bishop Cistone announces the public phase of the Legacy of Faith Campaign with nearly $6 million in cash and pledges secured.
May 2011 – First ever “BIG RAFFLE” raised over $100,000 for Catholic education.
June 2011 – Construction on Phase I of the Saginaw Nouvel Catholic Central and the Bay City All Saints Catholic Central building projects started.
September 2011 – All Legacy of Faith Phase I construction completed.
November 2011 – The 225th Endowment Fund is established.
December 2011 – At the end of the year the CCFMM had assets of 17.56 million.
November 2012 – “Sharing Christ’s Love” was printed and mailed to every house in the Diocese.
December 2012 – At the end of the year the CCFMM had assets of 19.55 million.
January 2013 – The 250th endowment agreement was created.
February 2013 – Assets exceeded $20 million for the first time.