The Catholic Foundation of Eastern Pennsylvania, recently hit another growth milestone by opening its 100th endowment funds.
The Blasi Family Trust provided the seed funding to create the St. Jane Frances de Chantal School Academic Excellence Endowment Fund. The fund provides support for academic awards and scholarships for students attending St. Jane Frances de Chantal School in Easton. The Blasi Family are the Catholic Foundation’s 73rd partner.
As a 501(c)(3) charitable organization, independent from the Diocese of Allentown, the Catholic Foundation was designed to manage long-term assets through the creation of endowment funds. Endowment funds generate perpetual income that provides financial stability for Catholic parishes, schools, and other ministries.
“We share the same passion with our partners and donors,” Pete Waldron, president of the Catholic Foundation, said. “We want to ensure all Catholic causes have the income they need to fulfill their missions forever.”
The Catholic Foundation Endowments Support Parishes, Schools and Other Catholic-Faith Entities
Endowments have been created by parishes, schools and other entities to support liturgical and faith formation efforts, youth ministry programs, scholarships and future capital improvements.
More individual donors, like the Blasi Family, have stepped forward with funding to create new endowment funds or add to existing endowments. Donors may make a gift now with cash, appreciated stock or an IRA transfer. Donors may also make later gifts with a gift in a will or naming an endowment as an IRA beneficiary with significant tax advantages after their death.
Total assets under management by the Foundation are more than $25 million. The Foundation was named “a qualified investor” when they hit that milestone asset level six months ago. During the most-recent fiscal year, the Foundation achieved an investment return of 29.33 percent on behalf of the entities it supports. The return goal is 7 percent.
For more information, contact Pete Waldron, president of the Foundation, at 610-554-1941 or firstname.lastname@example.org.
— Published February 3, 2022