The purpose of the “Million Dollar Parish Match” Program is to support parishes in the Roman Catholic Diocese of Phoenix in establishing or expanding an endowment program to benefit their community. For many parishes, this plan will introduce the concept of perpetual giving to their members. Additionally this program will provide an opportunity for promoting the vision, mission and long-range value of the Catholic Community Foundation to an unprecedented number of Catholics in the diocese. Funding for the program begins on July 1, and continues through December 31. The Catholic Community Foundation Board approved the release of up to $1,000,000 from unrestricted assets to provide seed money for an endowment fund restricted for the use of parishes. (The earnings from these funds are available to the parishes, but the corpus remains with the Foundation)
- There are 88 parishes and 2 Newman centers within the Diocese of Phoenix.
- Each parish is entitled to the earnings from an initial amount of $5,000, provided the pastor signs a traditional endowment agreement.
- Each parish is entitled to the earnings from an additional $5,000, provided the parish matches this amount and places it in their endowment fund.
- Parishes will have the freedom to direct their portfolio balance (from a list of prescribed options), and can elect annually to take income or roll the earnings back into the fund.
The Catholic Community Foundation is fully committed to providing an endowment fund for every parish in the Diocese of Phoenix. A parish with an endowment fund allows others to leave a “forever” gift, a memorial, and a legacy.
For additional information concerning Parish Match programs, email email@example.com.
The Board of Directors of the Catholic Community Foundation approved the Catholic School Match Program in 2001 and set aside $538,000 to fund the program. These funds will make it possible for each school to establish an endowment fund, the earnings of which can be used at the school’s discretion. To set up the endowment, preschools can receive $2,000 outright plus up to $2,000 in additional matching funds. Elementary schools can receive $5,000 with up to $5,000 matched, and diocesan high schools and Brophy College Preparatory can receive $20,000 outright plus up to $20,000 in matching funds.
Greg Donahue is the Chairman of the Catholic Schools Match Program. He explained, “The school match program is important because it has a long lasting effect. The dollars that we raise today will support not only the present, but also the future. With an endowment, you’re building the principal and utilizing the earnings. Most of the major colleges use endowments to perpetuate their schools. If our Catholic schools are going to handle the peaks and valleys of economic times, we’re going to need to have some of that strength as well. Future generations will see the benefit.”
For additional information concerning Catholic Schools Match programs, email firstname.lastname@example.org.