Many St. Mary parishioners experience feelings of great reward in making a variety of donations which benefit our parish and Catholic school. The Northern Michigan Catholic Foundation (NMCF), offers endowment-based options for those who want to consider a gift “that keeps on giving”. These include the St. Mary School Endowment Fund as well as the St. Mary Charity Fund. Donors can contribute to a specific fund which can benefit the St. Mary School tuition assistance program or the new St. Mary’s fund set up to provide a charitable helping hand to others for disaster relief, community outreach and more. These funds are professionally managed with investments that meet specific Catholic-based guidelines approved by the Bishop, and only interest and gains are paid out (twice annually) to our school or parish. The original donation remains intact to generate future gains for years to come. If you would like more information on these giving opportunities, you can contact Fr Peter or John Doskoch, NMCF board member, at (231) 675-7688.
The Northern Michigan Catholic Foundation is pleased to announce the latest annual results for the St Mary School Endowment Fund, fiscal year ending 6/30/2017. This fund provides support to families in need of tuition assistance for their children to attend our school. The fund held a balance of $104,714 on 7/1/2016, received contributions during the year totaling $11,971, and earned $11,794 in capital gains and interest over the past 12 months. $1961 was paid out, and the fund held a total of $126,518 as of 6/30/2017. The investment markets were very generous providing us with a 10.1% return during this period, and although we’d like to see this level of investment return every year, realistically we expect future returns to be more modest in keeping with the fund’s investment principal preservation with moderate growth goal. We’d be pleased to provide more information about the foundation and this fund (or the St Mary’s Charity Fund) if you are interested. Donations are always greatly appreciated, both in cash or securities, or perhaps as a legacy gift in your will or trust.