Fr. Michael Hendrickson Addresses A Unique Long-term Gift for the Parish and School

St. Frances Cabrini Parish

 

Today, parishioners can read about a unique long-term giving opportunity once reserved for the wealthy, but is now available to everybody. Endowments go back to the Roman Empire and have been common to colleges and universities in recent centuries. Other types of non-profits have been utilizing them in recent decades, but only with the establishment of the Catholic Community Foundation of Santa Clara County (CCFSCC) in 2004 has this type of giving to parishes and parochial schools been possible via check, stock transfer, and easy online giving.

Through prudent long-term investing and modest annual distributions, endowments provide an indefinite funding source for their beneficiaries. The CCFSCC has set up their endowments to give a nominal 4% annually, with some variation given to market ups-and-downs. For example, a $25 gift to SFC Parish’s fund in 2017 would provide the parish $1 in 2018, then $1 in 2019, etc. until the parish ceases to exist. Through long-term investing it is reasonable to expect the fund to match or beat inflation in future years.

What is unique in the next two months is that an anonymous donor has provided for a $20,000 match for each parish and parochial school in San Jose by September 30. If we can raise $20,000, the donor will add another $20,000 to the endowment. With that combined $40,000 in the fund, the parish or school should expect an annual distribution of $1,600. That would be $2 distributed annually for each $25 given in the next two months.

It should be noted that the parish and school are not allowed to give to their own endowments, as appealing as that would be.

Skip A Meal

 

So how are we going to raise $20,000 in two months?

As your pastor, I am asking the families of the parish and school to participate in “Skip-a­ Meal Summer.” The steps are easy:
1) Once between now and September 30, either skip one meal or downscale a meal from eating-out to eating at home.
2) Since fasting is a spiritual discipline, be sure to have a specific intention of your choice for your fast, accompanied by prayers.
3) Donate the money you saved in step one by skipping or downscaling a meal to either the parish or school endowment fund (or both). Instructions are found on this page.

Given the size of our parish and school and one generous parish family already starting both SFC Parish and School endowments with donations of $1,000 to each, this modest fundraiser should be sufficient to meet the $20,000 match.

Donate online to the parish endowment at https://giving.cfoscc.org/sfcabrini

Donate online to the school endowment at https://giving.cfoscc.org/SFCSchool

Fr. Michael Hendrickson

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