The St. Ann Endowment Fund was established in 1993 to help ensure the long-term financial stability of St. Ann Catholic Church and School. Although there is only one fund, the assets are accounted for separately for the church and school.
As an endowment fund, all contributions are considered "principal" and continue to generate returns in perpetuity. Only earnings from the fund are available for distribution. Last year, we received approximately $52K in distributions from the fund. Distributions are allocated to the church and school based on their respective share of fund assets.
The governing document for the fund is the Endowment Declaration which was most recently amended in May of 2009. The fund is overseen by a Board of Trustees appointed by the pastor.
As of December 31, 2011, the market value of investments held in the fund was $1,284,592. Approximately 60% of the fund assets are invested in diversified stock funds managed by Prairie Capital. The remaining 40% are invested in the Archdiocesan Deposit & Loan Account which is similar to a money market account and currently yields 1.5%. Financial results are prepared and reviewed with the Board of Trustees quarterly.
Sources of deposits include:
- Contributions from School and School of Religion families
- Estate and memorial gifts
- Foundation and corporate gifts
- Fall Festival proceeds
- Individual contributions
The St. Ann Legacy Society is an honorary organization to recognize and thank donors who have remembered St. Ann Catholic Church or School as beneficiary of an planned estate gift. Planned estate gifts include wills, bequests, charitable gift annuities, charitable trusts and life insurance. Legacy Society members assist St. Ann Parish in providing for the long-term financial stability of the church and school. If you would like more information on how to become a member of the Legacy Society, please contact Donna O'Connor at (913) 660-1129 or firstname.lastname@example.org.