Forward in Faith, Hope, and Love and Endowments

Published
FFHL Logo
March 24, 2014
Issue 26
 
Forward in Faith, Hope, and Love and Endowments
 
Forward in Faith, Hope. and Love is establishing seven endowments as part of its campaign. What is an endowment? 
 
This is one of the most frequently asked questions when talking to potential donors about participating in the campaign. Outlined below is information regarding the diocesan foundation, which is managing the endowments established as part of the Forward in Faith, Hope, and Love effort. 
 
The diocesan foundation was established to provide a means for individuals and organizations to provide long-term financial stability for the diocese and its churches, schools, agencies and organizations.  Through the creation of individual endowments, the Foundation provides a means to generate income to help sustain the long-term strength and viability of these Catholic institutions in western North Carolina.
 
The Foundation uses the strict definition of endowment:  a permanent fund, the principal of which is never touchedbut the income from which can be used in accordance with the wishes of the donor organization or individual.  The principal as it is defined includes the initial contribution given to establish the endowment as well as all additional contributions to the endowment. The assets of the Foundation grow through sound investment policies and from additional gifts.  An endowment fund should not be confused with a capital fund, a reserve fund or a special projects fund, all of which generally allow expenditures of principal.
 
By creating an endowment, a Catholic entity such as the diocese, a parish or school can tell the community that the diocese, parish or school is providing for the future and intends to continue serving the community for many years to come.
 
In specific terms, an endowment fund provides a permanent and secure source of income, which can ensure the future of our Catholic parishes, schools, agencies, ministries and organizations. 
 
Over the past 25 years, the most stable and effective colleges have established endowment funds.  Likewise, it is important that our diocesan programs such as our seminary program and our other Catholic programs have endowments to ensure their stability and effectiveness into the future.
 
This is an exciting time for our Catholic community in western North Carolina. With the tremendous growth we have seen, it is necessary that we continue to invest in the future of our Church. 
 
Campaign Statistics
 
  
*A portion of the Leadership Gifts Phase total raised is shared with parishes, therefore the overall total is less than the sum of the individual phases. 
 
 
Individual parishes were offered the opportunity to set a challenge goal over and above their FFHL goal. In addition, parishes receive a benefit from surpassing their regular FFHL goal. All dollars raised are included in these totals.
 
* Retired, but pastor when campaign was conducted. 

 
Good News
 
Block Two
 
Fr. Pat Cahill and the Ambassador team at St. Eugene in Asheville welcomed $100,000 in new gifts; the team also welcomed two new Ambassadors. Families are embracing the opportunity to help invest in the future of spiritual, educational, and charitable ministries.
 
Fr. Roger Arnsparger welcomed a new Ambassador to the St. Mark team in Huntersville. In conversation, Ambassadors were especially motivated to provide additional support to the Priest Retirement Fund. This fund will ensure our retired priests, such as Msgr. Bellow who faithfully served the Catholic community for more than 40 years, will enjoy their years of retirement.
 
The Ambassador team and Fr. Mark Lawlor at St. Vincent de Paul (Charlotte) welcomed four new gifts to the campaign. Ambassadors have enjoyed the opportunity to share fellow parishioners’ spiritual journey with the Church; they have been truly humbled by the sacrificial commitments to the campaign.
 
At Holy Spirit in Denver, Fr. Carmen Malacari and the Ambassador team continue to meet with families. On a recent visit, a family shared with an Ambassador, “We are excited to be a part of Forward in Faith, Hope, and Love.Making a sacrifice for the future of our church is a concept we were raised with decades ago. We’re excited to pass this onto our children and show them the importance of sacrificing now to invest in the future of our faith community.”
 
Fr. Miller at St. Dorothy in Lincolnton hosted a reception for the Hispanic community to share more information about Forward in Faith, Hope, and Love and to invite their participation. The community responded graciously and committed more than $106,000. Parishioners at the reception were excited about St. Dorothy’s local share to expand classroom space for Faith Formation, which currently has more than 200 Hispanic children.
 
Fr. Burke and the Leadership Team at Immaculate Conception in Forest City welcomed more than $28,000 in gifts to Forward in Faith, Hope, and Love. Parishioners are excited to be a part of an initiative that will ensure the continued growth of the Catholic community throughout western North Carolina.