Endowment Funds at St. Mary's
Church of St. Mary's Parish Endowment Fund
The purpose of this endowment is to serve the financial needs of the parish of the Church of St. Mary’s, Help of Christians in Sleepy Eye, Minnesota. Proceeds from this endowment may be used to repair, maintain or upgrade any and all of the parish’s buildings and/or to financially support the ministries and the salaries of the ministers of the parish.
This fund is an endowment with the principal always remaining intact. Each year eighty percent (80%) of the interest and dividends derived from the investment of the fund may be used for parish needs as determined in the parish’s budgeting process. The remaining twenty percent (20%) of the growth will be reinvested in the fund to insure the fund’s ongoing growth.
The Church of St. Mary Parish Endowment will always welcome contributions to the fund. Donors will be recognized each time their contributions reach the $1,000 level at the annual parish endowment dinner. Contributions from a specific donor to the fund can accumulate over time to get to the $1,000 recognition level. Donor names and date will be recorded in perpetuity in the Blessed Mary Endowment Book which will be held in a special place of honor in St. Mary’s Church. Memorial donations to this fund are welcome and each memorial, the donor and the date will also be recorded in the Blessed Mary Endowment Book.
Gratitude for Education Endowment Fund– Established in 1985.
The purpose of this fund is particularly to assist with teacher and staff salaries. The principal remains intact and only interest earned is used. The interest (80%) is transferred annually to the general fund to be used for staff bonuses given out during Catholic Schools Week. 20% is reinvested to build the Endowment Fund. Contributions are accepted in the name of any person, living or deceased.
Scholarship Trust Fund- Established in 1999.
The purpose of this fund is to invest the principal and distribute the interest earned by the fund to students as need-based scholarships. The committee which established this fund had a goal of $500,000.00 in three years.
This fund is just one source used for tuition assistance. We receive all types of donations throughout the year from parish bulletin notices and funeral memorials. We also have a generous donor who will give the school $35,000.00 per year for the next five years to be dispersed during the year and not to be invested in this Scholarship Trust Fund.