U.P. Catholic Foundation Makes First Distributions

U.P. Catholic Foundation Makes First Distributions

“We are extremely pleased to make the first distributions from the U.P. Catholic Foundation to benefit various programs, parishes and schools in the Diocese of Marquette,” said David Williams, president of the Foundation. Eleven distributions totaling $389,800 were made.

“Some funds previously held by the diocese were moved into the Foundation, like the Legacy of Faith and Seminarian Endowment Fund, and a few others have been newly established in the Foundation,” commented Terri Gadzinski, executive director.

The largest distribution of just over $300,000 went to Legacy of Faith, a diocesan endowment that was merged into the UPCF. The original purpose and intent of Legacy of Faith is maintained by an advisory committee that is charged with stewarding the mission and making grant recommendations. Legacy of Faith benefits Catholic Schools in the diocese, parish faith formation programs, and Catholic Social Services of the Upper Peninsula. In addition, Catholic Action grants are available for new and emerging ministries, or to boost under-funded ministries.

A distribution to benefit the education of seminarians in the diocese was made from the Seminarian Endowment Fund. Vocations director, Rev. Ben Hasse, has been working with the diocese for several years now to grow this endowment through challenge gift incentives and small group receptions. “We are very grateful to those who helped get this endowment off to a good start, the fund will provide income to supplement seminarian education for the long-term,” said Hasse. “Our goal is to grow the fund for more substantial impact on the budget. One of the blessings of having more seminarians is an increase to the budget!”

A distribution was made to provide financial support for St. Peter Cathedral in Marquette. The funds will be used this year to support a youth ministry position for the Cathedral. “It’s been 4 or 5 years since we had someone on staff for youth ministry,” commented Msgr. Michael Steber. “We are very grateful to be able to hire Katelyn McKeen and we look forward to how we can build up our youth ministry.”

Distributions were made to two Catholic Schools. Bishop Baraga Catholic School in Iron Mountain received a distribution from a new fund that was created with a bequest gift. Twenty-five percent of the distribution will provide tuition assistance to students attending the school, and 75% will be spent on building improvements.

Teachers and staff at Holy Name Catholic School are the beneficiaries of the distribution from the Holy Name Catholic School Staff Support Endowment Fund to supplement teacher salary and professional development. This fund was established by the school and initial gifts were raised through the school’s annual fund campaign.

The U.P. Catholic Foundation provides for the financial stability of parishes, missions, Catholic schools and other Catholic causes in the Diocese of Marquette. Socially responsible investment of the endowed funds upholds Catholic principles to create a more just global society, foster the common good and respect the dignity of life. Donations may be made at any time to support existing funds or to start up new endowed funds. For more information contact Gadzinski at telephone 906/227-9108 or email tgadzinski@dioceseofmarquette.org.