Goal of this Fund — The cost of college and/or university education seems to spiral upward each year. A long term goal for the CCFMM is to have funds available to provide scholarship assistance to Catholic students of the Diocese of Saginaw who wish to attend college. At present, all existing scholarships are limited to students who have graduated from a Catholic high school, many linked to graduates of a particular school. In some instances, the criteria also states that students must be graduates of a Catholic high school AND they must be going on to a Catholic college.
Existing Endowments — The following endowments for College scholarships exist:
- 17 endowments have been created by individuals or families;
- 2 endowments have been created by multiple donors.
How Disbursements are Used — As indicated above, all scholarships are for graduates of Catholic high schools for college scholarships. Some offer a one year only grant while others are for all four years of college. Several indicate that the money must be sent directly to the college or university for tuition.
TOTAL College Scholarship Endowment Assets (as of 06-30-16): $630,953
A Legacy of Learning
Sometimes, the decision to make a significant gift to an organization doesn’t come until the end of life. That was the case with a recent gift to the CCFMM. The gift was introduced by the personal representative of the estate who spoke for the donor in regards to his plans.
As the donor was nearing the end of his life, he let it be known that he wanted to create an endowment through the CCFMM. Unfortunately, the donor’s illness worsened quickly and he died before he was able to get his plans down on paper. Fortunately, his personal representative was listening carefully and he made sure that the donor’s wishes were carried out.
An endowment for college scholarships was created in the donor’s name. Disbursements from the fund will be offered to Catholic school graduates on the basis of financial need, grade point average, and proof that the applicant is an active, practicing Catholic.
The donor would feel good about the endowment that has been set up in his name. He spent a lifetime working within the Church and he also spent that lifetime learning – about every possible subject. A legacy of learning will continue through those who receive disbursements from the fund.