Frequently Asked Questions
What is an Endowment?
An endowment is an account in which donations are given with the intent to preserve the original value of the gift and to grow it over time. The funds are held in perpetuity and invested with the principal asset base remaining intact and grows through sound investment and additional gifts. The accumulated appreciation and income on the investment is used to fund an annual income distribution. Through this dedicated stream of income, an endowment gift can ensure the stability of the programs and the long-term financial viability of the endowed organization. When you make a gift to an endowment you create a permanent legacy of support that will make a lasting impact.
How is the money used?
Each year the income distribution is used to strengthen the quality of programming, staffing and instructional materials as well as provide tuition assistance for families seeking a Catholic education. With a healthy endowment, St. Odilia School can reduce reliance on parish subsidies, tuition, and short-term fundraising for the school’s annual operating budget. It secures the viability of St. Odilia School as a place that provides a quality, faith-based education.
How and when did this endowment start?
In 1987, St. Odilia Parish established an endowment fund to support and enhance the mission and ministries of both the parish and the school. In 2019, with contributions designated specifically to the school from the original endowment, the School Endowment Fund was established for the express purpose of creating an endowment that would bring an annual and dependable income solely for the school.
Who makes the investment decisions?
The Parish and School Endowment Funds are managed by the Catholic Community Foundation of Minnesota (CCF). CCF ensures the endowments are invested in accordance with current laws and best practices. CCF is committed to careful investment that is in alignment with Catholic Social teaching.
What is the minimum donation?
There is no minimum donation to the School Endowment Fund.
Why should I give to the Endowment?
Because you care about the future of Catholic education! Making a donation to the endowment is leaving a legacy for the future. As the endowment grows, the interest income helps secure the financial viability of St. Odilia School for years to come. Your gift will truly keep on giving!
How can I make a contribution to the Endowment?
- Gifts of cash are simple, straight-forward ways to make a contribution
- Gifts of securities can provide benefits to both you and St. Odilia
- Gifts of life insurance can be an attractive alternative if the policy has outlived its original purpose;
- Gifts by will, or bequests, are an important means of giving to this fund
- Gifts with retained income allow you to make a gift to this fund while retaining income by establishing a charitable remainder trust.
Who has made a donation to the Endowment?
Our donors include our current and past school parents, alumni, grandparents, and parishioners of St. Odilia Church. Many businesses match the donations that their employees make!