What is an Endowment Fund?
Many people believe that endowments are only for wealthy individuals or large institutions like universities. In reality, an endowment is for everyone who wishes that their favorite charities may benefit forever. An endowment fund holds gifts permanently as principal, and the distributions from its investment are made once a year to its specific beneficiary forever. In that way, the initial gift provides permanent funding that will never run out. Contributions to our parish endowment fund are welcome and encouraged. They may be made in celebration of a special occasion, as a memorial contribution in honor of a loved one, as a bequest in your will, or in whatever situation touches your heart.
Who administers our Endowment Funds?
The Catholic Foundation exists to help Catholics who want their gifts to have a lasting impact on the parishes, schools and causes that mean the most to them. Though founded by the Diocese of Columbus and operating in support of its mission, the Foundation is a legally separate entity. Its assets are insulated and protected and cannot be used for any purpose other than those specified by the donors. Because it manages over $110 million in assets, the Foundation is able to run very efficiently and generate marketable returns for its fund beneficiaries.
The Catholic Foundation, who manages our parish endowments funds, focuses on listening to you, the donor, granting the greatest allowable flexibility in offering maximum benefits to meet your desires and needs. Endowments can be made in celebration of a special occasion, as a memorial contribution in honor of a loved one, as a bequest in your will, or in whatever situation touches your heart. The foundation staff work with you to achieve the results you desire.
What are the currently established St. Matthew Funds?
- The St. Matthew Endowment Fund: This fund benefits St. Matthew Parish in meeting its needs for capital improvements and maintenance.
- The General James M. Abraham & Parishioners St. Matthew School Tuition Assistance Endowment Fund: This fund provides tuition assistance to students, attending St. Matthew School, based solely on financial need. Priority shall be given to students who are at or below the state poverty level or families which have multiple students enrolled at the school.
- The Betty Sanderell Memorial Endowment Fund: This fund provides scholarship assistance to a deserving math student at St. Matthew School, in memory of Betty Sanderell.
For more information about our endowment funds, please contact Craig Heppner, Development Officer for the Catholic Foundation.