Financial Development Committee

The Financial Development Committee seeks to facilitate parish participation in the four fold mission of Jesus Christ to celebrate, proclaim, build community and serve.
 
In May 2000, St. Joseph Parish established a permanent endowment fund to provide additional financial support for St. Joseph Parish needs.  The fund is designed to remain as a permanent restricted fund, but the parish may use up to 90 percent of the income earned on fund assets for parish needs.  Since inception, the fund has provided over $144,000 of support for needs that were outside the parish operating budget. The fund has been blessed with several gifts and bequests, but continued support of the fund is necessary to ensure the future vitality of our parish.  Want to know more about how you can be part of a permanent gift that will sustain St. Joseph Parish?  Call the parish office at 377-4869 for details.

The Financial Development Committee coordinates all activity associated with administration of the Parish Endowment Fund.  The committee is responsible for increasing awareness of the Endowment Fund as well as increasing awareness of how parishioners can utilize estate planning to support the long-term financial needs of St. Joseph Parish.  The committee also makes recommendations to the Finance Committee or the Board of Education on how proceeds from the fund should be utilized within the parish. It should be noted that this committee makes recommendations as to the utilization of the proceeds from the Endowment Fund.  However, the parish provides assistance to the Finance and Administration Committee by supplementing the regular parish budget.

The Parish Pastoral Council has designated the Endowment Fund to be used only for projects and expenses that are not included in our usual budget.  The usual budget includes salaries, maintenance, ongoing programs, etc.  The Endowment Fund can be used for educational needs, staff and teacher development, special projects and facilities improvements.

Request for funds are submitted to the Financial Development Committee which makes a recommendation to the Finance Committee. 

Endowment Fund Contribution Designations

To assist you with designating where you would like your contributions allocated, the Financial Development Committee has defined two categories, which are explained below.

Undesignated Restricted:  Principle allocated to this category is to be held permanently, which income is to be used at the discretion of the Parish Council.

Designated Restricted:  Principle allocated to this category is to be held permanently, while income is to be used for the purposes designated by the donor.

If you elect to allocate your contribution to the designated category, please make sure your estate plan correctly reflects your wishes.

Here are some examples on where you could designate your contribution:

·         Parish

·         School

·         Tuition Assistance

·         Teacher Salaries Supplement

If you have any questions in regard to this subject, please feel free to contact the parish office and discuss it with Father Gossman or a committee member.

Projects made possible by gains on the endowment.

 



Date
 Cost
 
 Purpose
 
June, 2004
 $ 26,500.00
 
 Boiler in the school
 
June, 2004
 $ 3,100.00
 
 Repair boys restroom - school
 
June, 2004
 $9,710.00
 
 Monies restricted for Educational purposes - school
 
June, 2004
 $2,000.00
 
 Religious Education - Unexpected financial needs and

professional development
 
June, 2004
 $834.00
 
 Cantor workshop
 
June, 2004
 $1,500.00
 
 Family retreat
 
June, 2004
 $1,470.00
 
 Office computer and software
 
June, 2005
 $4,600.00
 
 Lawn mower
 
July, 2005
 $4,703.00
 
 Monies restricted for Educational purposes - school
 
September, 2005
 $339.00
 
 Maps of the Holy Land for use in Scripture study
 
October, 2005
 $1,000.00
 
 Religious Education bus trips
 
November, 2005
 $5,649.00
 
 Monies restricted for Educational purposes - school
 
April, 2006
 $250.00
 
 Ongoing Education, Youth Ministry
 
August, 2006
 $6,468.00
 
 Monies restricted for Educational purposes - school
 
December, 2006
 $700.00
 
 Youth Ministry Convention
 
February, 2007
 $1,000.00
 
 Requested by Rodney Bluml (Illuminare)
 
May, 2007
 $216.75
 
 Conference for RE Director
 
June, 2007
 $1,345.74
 
 Educational Purposes - school
 
June, 2006
 $7,453.70
 
 Educational Purposes - school
 
August 2007
 $60,400.00
 
 Replacement windows in school
 
November, 2007
 $1,000.00
 
 Laptop computer for parish programs
 
May, 2008
 $2,200.00
 
 Educational assistance for school staff
 
TOTAL
 $ 144,379.51
 
 
 

An additional $2,300 has been allocated to the Board of Education to support continuing education and $15,000 has been approved for updating the school electrical system, leaving approximately $4,700 available for other parish needs.