Goal of this Category — The long-term goal for the CCFMM is to have an endowment for every parish of the diocese so that people can make current gifts to their parish or leave gifts through their will/estate plan that reflect the gratitude they hold for the parish that has been there to support them and their families in good times and in bad. In addition, families may create an endowment in their name for the benefit of the parish or a particular ministry or service the parish offers.
Existing Endowments — 35 endowments have been created for parishes of the Diocese of Saginaw.
- 19 have been created by parishes
- 15 have been created by individuals or families for a specific purpose.
- 1 endowment for the Cathedral Parish of the Diocese has received contributions from a variety of donors.
How Disbursements are Used — The document that establishes a parish endowment lists the following ways a parish can use disbursements from the fund:
- To further the religious, charitable, or educational programs and ministries of the parish;
- To augment capital expenditures and/or improvements of the parish.
Donors have created funds for these purposes:
- To supplement the operational budget and programs of the Cathedral Church Parish of the diocese.
- For religious education programs, assistance to the poor and needy of the community, tuition assistance for students of the parish’s Catholic school or general needs of parish if the other needs are met.
TOTAL Parish Endowment Assets (as of 06-30-16): $2,730,020
This is Our Parish
Many of us form a strong bond with our parish. Sometimes these bonds are ethnically driven, other times they are formed by a significant emotional event in our life: marriage, baptism, funeral.
A parishioner of one of our parishes contacted the foundation concerned about the long term financial viability of their parish. It seemed their congregation was struggling to make ends meet and the younger families did not seem to have the same financial bond with their parish as some of the long time parishioners. What could they do?
The family set up a parish endowment which they will add to every year. Funds will be distributed to the parish every year to help with the operation of the parish.
“Our family has attended this parish for generations; this gives us a chance to give something back.”