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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 June 30, 2009
 The United in Faith Campaign
is in its sixth year of pledge redemption. For most donors, this Campaign is
complete. If you have not completed your pledge we encourage you to continue to make regular payments.
Below are the campaign
totals as of June 30, 2009:
$5,500,000 was allocated for Diocesan Stewardship 2001
$4,542,609 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:
$6,972,680 to Catholic Schools
Endowment
$7,024,351 to Seminarian Education
Endowment
$3,486,340 to Religious Education
and Youth Ministry Endowment
$3,051,698 to
Needy Parishes and Schools Endowment
$2,150,924 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. Nothing was added to the corpus in September 2008 because
there were no earnings.)
The United in Faith
President Appointed Committee (PAC) made the following decisions at
their August 26, 2008 Annual Meeting:
Because of negative
investment returns during the past fiscal year there were no current
earnings to distribute. The PAC, however, decided to distribute
one-third of the $2,246,186 currently held in retained earnings.
$669,114 was distributed
to the recipients of the United in Faith Endowments during September
2008 as follows:
>>> $205,525: to all
Catholic elementary and High Schools on a per student basis
>>>
$102,762: to all Parish Religious Education & Youth Ministry Programs on
a per student basis
>>> $ 90,363: to 23 poor parishes and
schools for special projects
>>> $207,064: to assist with seminarian
education program
>>> $ 63,400: to assist the Diocesan Priests
Pension Program
$1,338,591 continues to be held in Retained
Earnings for future contingencies (after the 2008 market loss is
recovered).
$5,859,742 has been awarded to the
case recipients since distributions began in 2003!
Those who benefit from the
UIF endowments are deeply appreciative of your sacrifices and
generosity. Thank you.
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