What is the St. Dominic Parish Endowment Fund?

We have a parish endowment fund dedicated solely towards the furtherance of Catholic education here at St. Dominic’s. Catholic education includes both our day school and Christian Formation programs.

The endowment fund is truly a gift that keeps on giving. By its very nature, an endowment fund requires that the principal amount of any gift remain untouched. Only the earnings generated from the principal are used to support the mission of the St. Dominic Parish Endowment Fund.

Contact:  Karen Chaffee, Director of Finance Administration at (262)781-3480.

When did it start?

The St. Dominic Parish Endowment Fund traces its beginnings to our founding pastor, Father Grohall. As you may know, Father Grohall was an ardent supporter of Catholic education. His family and personal representatives believed his wishes would best be expressed through the creation of an education endowment. A residuary bequest from Father Grohall’s estate provided for the creation of our endowment fund.

2006 Update

The Board of Directors of the Parish Endowment Fund would like to continue reporting on the progress of the growth of the Fund to our parish family at least on an annual basis.

The primary goal of the Endowment Fund is to provide educational formation opportunities supporting our lifelong faith journey.  As of the end of the 2006 calendar year, the Fund balance totaled $295,866.  The net increase in the fund over the last calendar year was $35,719.  Over the past year, the Fund also received contributions that totaled $6,525 through the generosity of those who made the following gifts:

The Dalum Family Foundation
William and Dona Eckhardt
St. Dominic 2006 Dinner Auction Item, Donated by Marty and Marikris O’Grady.
In Memory of Sophia Musser, Mother of Grade School Teacher, Melanie Polaski
In Memory of Tyler Pytlik
In Memory of Roy Reinke, Father of Grade School Secretary, Roslyn Bartolotta
Marge and Bob Sherman
In Memory of Julia Strauss

May God bless the generosity that resulted in these contributions to the Parish Endowment Fund!

The present board members of the Fund are: Father David Reith, Pat Mattern, Jay Lauck, John Foley, Ann Rieger and Keith Baisden.

Father Dave Reith
On behalf of the
Endowment Fund Board of Directors

How can I participate?

Tax deductible gifts of cash, stocks, bonds or mutual funds can be made directly to the St. Dominic Parish Endowment Fund at any time. Please remember the endowment fund when making year-end charitable donations and preparing your estate planning documents. The endowment fund can also be named as a designee for funeral memorials.

These are just a few of the ways you can help. For more information or to make a donation, please contact Karen Chaffee the Director of Finance Administration at (262)781-3480

Your contribution to Catholic education today will ensure the success of tomorrow’s leaders.

Ideas for Giving

The mission of the endowment fund is to provide for the furtherance of Catholic education here at St. Dominic’s. Unlike capital funds and operating funds, the endowment fund is intended to grow and expand to meet the future educational needs of our parish.

Cash Gifts -  The simplest way to contribute to the St. Dominic Parish Endowment Fund is to make a direct cash gift. Such gifts are deductible to you for income tax purposes provided that you itemize your deductions. It is important to note that charitable tax deductions are worth more to you in 2006 than in later years since tax brackets are scheduled to decline over the next several years. Because charitable deductions are worth more at higher tax rates, many donors are accelerating contributions. This may be especially appropriate for contributions to the endowment fund, which by its nature will provide ongoing support to St. Dominic Parish in later years.

Gifts of Appreciated Stock, Bonds or Mutual Funds -  Despite recent setbacks, the various stock and bond indices have multiplied over the past decade. As a result, many people hold significantly appreciated investment assets. When you contribute publicly traded stock, bonds, or mutual funds, you earn a charitable income tax deduction equal to the market value of the assets contributed. Contributing appreciated securities can provide a large tax write-off while avoiding the capital gain tax that would be payable if the appreciated asset were to be sold.

Gifts of Real Estate - Charitable contributions of real estate that has been held for more than one year will usually provide the same benefits as gifts of appreciated securities.

Gifts of Insurance - If you hold a life insurance policy that is no longer needed for your personal planning, consider transfer of the policy to the St. Dominic Parish Endowment Fund. If you name the endowment fund as the owner and beneficiary of such a policy, you will earn an immediate tax deduction equal to the current value of the policy. Any additional premium payments that you make on behalf of the endowment fund will be tax deductible to you as well.

Utilization of IRAs or Retirement Plan Benefits - Did you know that when you name a non-spouse family member as beneficiary of your IRA or other qualified retirement plan assets, those assets can be subject to both estate tax and income tax totaling more than 75% of the asset value in large estates? If you intend to benefit the St. Dominic Endowment Fund as part of your overall estate plan, the most tax efficient manner may be to simply designate the Endowment Fund as the beneficiary of your IRA or retirement plan. Because the St. Dominic Endowment Fund is a tax-exempt organization, the fund will not pay income tax or estate tax on distributions received from IRAs or qualified plans. Testamentary Bequests Bequests to the endowment fund can be specified in your will or trust. Such bequests should be made to St. Dominic Parish Endowment Fund, Inc.

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