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United in Faith consists of the
following:
Catholic Education
Endowment – $8 million goal
All Catholic elementary and Diocesan Central Catholic High Schools will benefit from this endowment. Earnings will be distributed to the schools in
order to enhance teacher salaries, curriculum development, tuition
assistance and operating and capital expenses.
Religious
Education and Youth Ministry Endowment – $4 million goal
All parish
Religious Education and Youth Ministry Programs will share the earnings of
this endowment for ongoing training of the Director/Coordinator of Religious
Education and/or Youth Ministry, training of catechists and youth group
volunteers and supplement library and media resources.
Seminarian
Education and Priest Continuing Education Endowment – $8 million goal
The earnings of this endowment will assist in paying for the education and
related expenses of the seminarians associated with the Rockford Diocese.
The earnings will be also designated to educate priests in special fields of
knowledge needed by the Diocese.
Assistance Fund
for Needy Parishes and Schools Endowment – $3.5 million goal
The earnings from this endowment will be awarded to qualified parishes and
schools in the priority areas of tuition assistance, capital projects and
debt relief.
Priests’
Retirement – $2.5 million goal
The earnings from this endowment will be distributed to the Rockford Diocese
Clergy Retirement Program and be used to increase the benefits of the
retired and disabled diocesan clergy who have given their lives in service
to the people of the Diocese.
United in Faith Campaign Update
As of December 31, 2010
 The United in Faith Campaign
is considered
complete. However, if you have not completed payments on your pledge, we encourage you to continue
until finished.
Below are the campaign totals as of December 31, 2010:
$5,500,000 was allocated for Diocesan Stewardship
2001
$4,558,615 to Parishes in rebates
(Campaign Expenses and Reimbursements to
3 Parishes which conducted approved capital campaigns as part of the United
in Faith Campaign complete the financial picture.)
Current endowment (corpus)
balances:
$6,975,278 to Catholic Schools Endowment
$7,026,949 to Seminarian and Priest Education Endowment
$3,487,639 to Religious Education and Youth Ministry Endowment
$3,052,837 to Needy Parishes and Schools Endowment
$2,169,461 to Diocesan Priests Retirement Pension Endowment
(The numbers above include $819,136
that was returned to the corpus during September 2007 as a hedge against
inflation.)
The United in Faith President
Appointed Committee (PAC) made the following decision at
their August 31, 2010 Annual Meeting:
Because of prior investment
losses and the current uncertain economic environment, the PAC decided to
only distribute
one-half of the accumulated retained earnings in the Needy Parishes and
Schools Endowment for fiscal 2010 amounting to $96,800. There were no
distributions made from the other UIF endowment accounts.
Since distributions began in
2003, a total of $5,956,541 has been distributed to the recipients of the United in Faith
Endowments as follows:
>>> $1,798,845 to all
Catholic elementary and High Schools on a per student basis
>>> $1,806,637 to support Seminarian and Priest Education
>>> $ 899,422 to all Parish Religious Education & Youth Ministry
Programs on a per student basis
>>> $ 896,780 to support needy Parishes and Schools
>>> $ 554,857 to support the Diocesan Priests Pension Program
$1,564,168 is currently being held in Retained Earnings for future
distributions.
Those who benefit from the UIF endowments are
deeply appreciative of your sacrifices and generosity. Thank you.
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