Goal of this Category — Catholic schools are the most expensive ministry of the diocese. The burden of this expense cannot be carried entirely by a parish and the parents of children seeking Catholic school education. A third component of funding is needed via current gifts and endowment funding. Because of the importance of reaching long term financial stability for each of our schools, it was imperative that each of our schools create its own endowment. That goal has been realized since spring 2007.
Existing Endowments — The following endowments have been created to fund Catholic school education:
- 19 endowments – created by each of the Catholic schools of the Diocese.
- 2 endowments for school systems – one for Bay Area Catholic Schools; the other for Saginaw Area Catholic schools.
- 11 endowments – for the schools of the diocese that closed since 1994 when the first Catholic school endowments were created.
- 28 endowments – created by individuals or families for a particular school or school system.
- 10 endowments – created by multiple donors to support Catholic School education within the Diocese of Saginaw
- 60 endowments – capped endowments that no longer accept funds.
How Disbursements are Used — The endowment funds have been created for a variety of reasons including: tuition and scholarship assistance; supplement teachers’ salaries; in-service training and professional development for teachers and staff; augment operational expenses including textbooks and equipment; promoting, and marketing the school and recruit students; support specific programs such as campus ministry and Christian Service, sports programs, music and the performing arts; and capital improvements.
TOTAL Catholic School Endowment Assets (as of 06-30-16): $11,695,046
True Love Never Dies
One of the greatest loves a person can have is the love of a child. Time doesn’t change this love nor does tragedy. A parent’s love for their children is unconditional.
Fifty years ago, a tragic automobile accident took the lives of a mother and her three children. The father was left to pick up the pieces of his shattered life. By the grace of God, this man held fast to his faith and has lived the life of a good Christian.
At the time of their passing, the children attended a Catholic school in the Diocese of Saginaw. As a lasting tribute to his children, their father recently established an endowment to ensure other children will be able to attend the same Catholic school. His children’s memory will last forever, just like a father’s love.
“We Believe in Catholic Schools”
Two truly outstanding individuals contacted the CCFFMM to say that they wanted to learn how they could create a family endowment. Through the years, the couple had been involved in a variety of activities to support Catholic Schools. They have worked on fundraisers, written school policies, served on committees, and helped out in any way the schools needed them. Their names have become synonymous with Catholic education throughout portions of the diocese.
When the endowment was established, the donors made a very generous gift to begin the fund. They told their children about the family fund and explained that in the future, they did not want any more gifts for special occasions like birthdays and Christmas. They asked their children to instead make gifts to the family endowment.
The message obviously hit home because every December, gifts are received from the children of the donors in honor of their parents. Their annual gifts serve as a testament not only to their parents but also to the Catholic schools that increased the faith education that began in their parents’ home.