Goal of the Fund — The cost to educate a seminarian for the Diocese of Saginaw is approximately $28,750 per year. As of 12-31-2009, the diocese had 12 young men studying for the priesthood. The diocese has been blessed over the years to have a variety of endowments created to help fund seminarian education but disbursements from the funds cover only a small portion of educational costs. The goal of this fund is to have enough endowments to cover the cost of educating seminarians.
Existing Endowments — At present, 21 endowments have been established for Seminarian Education.
- 17 endowments have been created by individuals or families
- 4 endowments have been created by the diocese and donations have been received by multiple donors
How Disbursements are Used — Disbursements from the fund are designated to: pay for the education of seminarians; to provide on-going formation beyond the master’s degree level for people who are pursuing a M. Div or JCL degree; a clause advising how to use the money in the event there are no seminarians is included in several agreements and states that if there are no seminarians for two years, the funds may be used for financial assistance for students wishing to attend a Catholic school but can’t afford to do so.
TOTAL Seminarian Endowment Assets (as of 06-30-16): $3,051,743
A Special Gift
A few years ago, the CCFMM received a very special gift. The envelope had the address for the foundation on the front and a short message on the back: “Use to educate seminarians.” The writing looked like it might have come from an older person with an unsteady hand.
Inside the envelope were 3 one dollar bills, folded in half.
This gift was accepted with all of the wonder and awe of some of the largest gifts received because it was clear that it was given by a person who had a strong understanding of the need for more priests in our diocese. It was also accepted with great reverence because it appeared as though this gift was given with the same heart as the “Widow’s Mite.”
The beauty of this gift is that it was deposited into an existing fund – the Bishop Carlson Seminary Education Endowment Fund. The anonymous donor’s gift will continue giving into the future to help educate seminarians because the donor made a gift to a cause near and dear to his or her heart.
Some gifts are not significant because of their size. They are important because of the love with which they are given.