2020 Impact Report
Transparency & Accountability
The mission of the Catholic Foundation is to support the work of Christ in the Diocese of St. Petersburg by securing gifts, providing donor services and managing financial resources to benefit people assisted by all parish and diocesan ministries. We are entrusted to accept and grow legacy gifts to the best of our ability, and it is our responsibility to share information which demonstrates we are living up to that expectation and duty.
We operate on a fiscal year calendar of July through June, and therefore, all impact numbers and information provided in the 2020 Impact Report represent results and balances as of June 30, 2020. For current information on funds and performance, contact firstname.lastname@example.org.
In addition to reporting impact information to donors, the Foundation also participates in financial statement audit each year. To view the the financial statement audit for the year ended June 30, 2020 along with accompanying footnotes, please click here.
As stewards of the legacy gifts so generously given, the Catholic Foundation is committed to transparency and accountability. Please click here to download a PDF of the full 2020 Impact Report.
Board of Trustees
The Catholic Foundation is governed by an independent Board of Trustees appointed by Bishop Gregory Parkes. The Board, consisting of clergy and laity from around the Diocese, governs the operations of the Foundation and is a key element in providing counsel, oversight and accountability.
- Chris Schellman – President
- Reverend Monsignor Robert Morris, V.G., Pastor – St. Catherine of Siena Parish
- Revered Monsignor Robert Gibbons, J.C.L, Pastor – St. Paul Parish, St. Petersburg
- Frank Murphy – Secretary for Administration, Diocese of St. Petersburg
- Michael Daigle – Board Member
- James M. Desmond, CFA – Board Member
- David Jones – Board Member
- Susan Mittermayr – Board Member
- Stephen Peters – Board Member
- Nancy Ridenour, CPA, CFE – Board Member
- Roger Swaine – Board Member
Click here to learn more about our Board members.
Performance & Distributions
These charts show 5 years of performance and distributions for all funds within the Catholic Foundation. Since 2016, the total invested and managed in endowments and long-term managed funds has grown from $31 to $42 million, an increase of almost $11 million.
This increase can be attributed to both an increase in the number/amount of funds held as well as healthy performance overall. The performance chart to the right shows the steady rate of increase in our portfolio with a slight decrease between June 2019 and June 2020 resulting from the global market fluctuations in reaction to the pandemic between March and June.
The decrease in earnings is reflected in the projected decrease in distributions for managed funds from $1.83 million in 2020 to $1.8 million in 2021. What is vital to keep in mind, is that the purpose of endowed and long-term investments is to receive distributions in both good times and bad, even in market downturns. In 2020-2021, our beneficiaries can count on receiving $1.8 million.
Maintaining & Growing Existing Funds
The Catholic Foundation of the Diocese of St. Petersburg was formed in 1997 for the purpose of developing and establishing gifts that are restricted and/or endowed to benefit the ministries of the Diocese, its parishes, schools and other institutions. With that focus, we promoted and sought to build three specific types of funds for just over 20 years: Charitable Gift Annuities, endowments and annual event fundraising.
+ Charitable Gift Annuities – A Charitable Gift Annuity (CGA) is a type of planned gift that allows a donor to receive fixed payments from an amount of invested principal throughout their lifetime and leave the remainder to a Catholic parish or ministry, or a not-for-profit outreach entity of their choice upon their passing. Click here for information on the Foundation CGA program.
The Catholic Foundation is licensed to accept and administer CGAs, and currently holds 34 CGA contracts totaling $1.4 million for 26 beneficiaries. Click here to view the current list of the parishes, schools and organizations named as beneficiaries.
+ Endowments and Perpetual Funds – Endowed funds established through the Catholic Foundation ensure that the corpus (or original donation amount) is preserved and grows with inflation, while a portion of the income earned on the investment is distributable for use each year for the beneficiary. Click here for more information about endowments.
In 2020, the Foundation managed 72 endowed and perpetual funds totaling $11,657,575. Even in a year of notable market volatility, these funds provided $531,978 to their beneficiaries in 2020 to utilize for a variety of purposes. Click here for the complete list of the parishes, schools and organizations named as endowment beneficiaries.
+ Annual Gala – Each year, the Foundation plans and hosts a signature event for the Diocese of St. Petersburg. Historically, this event has been the primary source of annual fundraising for the Foundation and has allowed us to raise millions to support Catholic education tuition assistance programs. During the planning stages of the 2020 Gala, Bishop Parkes asked the Board to consider expanding the potential beneficiaries of our Gala fundraising to include the goals of our diocesan mission, Courageously Living the Gospel. The Board enthusiastically accepted.
The 2020 Gala raised $455,530 from event sponsorships and direct donations from participants. Because the event is funded by these sources, the net proceeds totaling $314,000 was divided into two grants: $200,000 to support families seeking tuition assistance for our Catholic schools through the CSTAG program run through the diocesan Office of Catholic Schools, and $100,000 to future youth and young adult initiatives for our diocese.
As we embark on a new year, the Catholic Foundation is making changes once again, moving forward with a 2021 Giving Challenge instead of a live event. All past supporters and those interested in joining the cause are invited to make a direct gift knowing 100% of each donation will provide direct benefit. For more information about the 2021 Giving Challenge, please click here.
Expanding Our Offerings
After demonstrating more than 20 years of success in stewarding perpetual funds and Charitable Gift Annuities, the leadership of the Catholic Foundation made a conscious decision to expand services and fund options to better support those we serve and the donors seeking new ways to make a difference in the life of our Church through consultation services, Bequest Funds, Life Funds and Donor-Advised Funds.
Click here to view how we have expanded our services.
Mater Dei Giving Society
In appreciate for those who have supported our mission in exemplary ways, Bishop Parkes launched the Mater Dei Giving Society on November 9, 2020. Named in honor of our Blessed Mother, the Mater Dei Giving Society recognizes those helping our diocese put our faith into action so the world can see who we are by the good works we do in Christ’s name, and features three circles of recognition:
+ the Mater Unitatis (Mother of Unity) Circle
+ the Mater Caritatas (Mother of Charity) Circle
+ the Mater Spei (Mother of Hope) Circle
The Mater Spei Circle is directly tied to Catholic Foundation donations and gifts. Once the Catholic Foundation accepts a specialized legacy gift or receives notification of an estate/beneficiary commitment, the donor automatically becomes a member of the Mater Spei Circle.
We offer heartfelt thanks to those who have taken this step to preserve the future ministry of our Church. Click here to view a list of our current Mater Spei Circle members.
To learn more about the Mater Dei Giving Society, click here.
Please contact the Catholic Foundation for more information.