God has entrusted us with many blessings of time, talent and treasure. Christian stewardship is the management of everything we have and are. Our legacy is written in the way we do that. Planned giving through wills, trusts or other estate gifts ensure the continued vitality of our parish and school from one generation to the next as you have the satisfaction of knowing that your gift will have a major impact. There are also attractive monetary benefits including charitable income tax deductions for year-end giving, favorable capital gains tax results, and decreased estate taxes.
St. Mary Cathedral’s Endowment Funds are a way for you and others to fund their dreams for the future of St. Mary Cathedral Parish and School. These endowment funds have been established and continue to grow in their investment with the Northern Michigan Catholic Foundation (NMCF). The NMCF provides the parish with a vehicle to support and increase the long-term financial stability for our parish and school.
St. Mary Cathedral School Endowment Fund
Established in 1987, this fund is to support the needs of St. Mary Cathedral School. We received the 2020 distribution to St. Mary Cathedral School in the amount of $42,287.96.
St. Mary Cathedral Cemeteries Endowment Fund
Established in 2013, this is a specialized fund that generates interest income required to properly maintain our Catholic cemeteries in the future. The 2020 distribution of $3,947 was added to the fund principle to continue to grow the fund.
St. Mary Cathedral Building and Grounds Endowment Fund
Established in 2013, this fund provides support for the future maintenance needs of St. Mary Cathedral’s Building and Grounds. The 2020 distribution of $306 was added to the fund principle to continue to grow the fund.
St. Mary Cathedral School College Scholarship Fund
Established in 2020, this fund provides 1 scholarship every year for a graduating senior of St. Mary Cathedral School who is attending a post-secondary educational institution.
The Hannah Marie Fund
Created to provide financial assistance for students of St. Mary Cathedral School.
Myler Family Fund for St. Mary Cathedral School
Created to support Catholic Faith based education at St. Mary Cathedral School. We received the 2020 distribution to St. Mary Cathedral School in the amount of $21,284.61.
St. Mary Cathedral School Religious Chair Fund
Established in 2021, this fund supports religious education teachers and religious education programs at St. Mary Cathedral School.
St. Mary Cathedral School Teacher Retention Endowment Fund
Established in 2021, this fund was created to support the long term retention and salaries of educators and staff at St. Mary Cathedral School.
St. Mary Cathedral School Athletics Endowment Fund
Established in 2021, this fund was created to support all athletic programs at St. Mary Cathedral School.
By their founding terms and conditions, and by St. Mary Cathedral policy, these funds are restricted in perpetuity and principal can never be used for the operations of St. Mary Cathedral Parish and School. Each year, there are disbursements from the interest earnings in each fund for one or more projects. All new contributions are added to the principal to help future growth. As you contribute to these funds, projects of even larger impact are possible. What do you dream about for St. Mary Cathedral Parish and School? You can help make it possible by using the Endowment Funds to recognize friends and family on special occasions, providing a memorial to a loved one, or just giving a gift for yourself.
What Can I Give?
The simplest method is a direct gift of money, real estate, or securities. Another method is revising your will, trust or estate plan to name one of the NMCF St. Mary Cathedral Endowment Funds as a recipient of a percentage of your estate. Other ways to contribute to the Endowment Funds can be in the form of cash, securities, charitable gift annuities, charitable remainder trusts, charitable lead trusts, life insurance and bequests.
General Gifts - Donations and contributions of any amount are always welcome and can be made to any of the St. Mary Cathedral Endowment Funds.
Memorial Gifts - Remembering a deceased loved one with a gift to an Endowment Fund is a wonderful way to create a lasting memorial. A perpetual gift to the parish or school that meant so much to the departed is a wonderful tribute.
How Can I Give?
If you are considering including St. Mary Cathedral as part of your estate plans, please visit with your tax or legal advisor to discuss your options.
For the School Endowment Fund, the Cemetery Endowment Fund, and the Building and Grounds Endowment fund, you may contribute via Online Giving with WeShare, a check in the Sunday offertory, or send to the parish office. To contribute to the rest of the funds, please contact the Northern Michigan Catholic Foundation about giving.
