Sacred Heart Parish & Norfolk Catholic School
Endowments
Over 125 years ago, the first parishioners were beginning to plan for the future of Sacred Heart Parish.
This opportunity continues today.
Just as our forefathers were blessed with the insight to insure the future of the Catholic church in Norfolk, we now have our opportunity to continue the legacy of faith and insure that Sacred Heart Parish and Norfolk Catholic Schools remain strong and viable for the generations yet to come.
The Endowments of Sacred Heart Parish remain an unwavering provider of revenue for sustaining the present as well as securing the future. The ability of the endowments to provide for the needs of an evergrowing and dynamic faith community depends upon our generosity today.
WHAT IS AN ENDOWMENT?
Endowments, by legal definition, are an excellent way for a non-profit organization to establish a type of savings account that is invested for the long-term financial health of the organization. The principal, the funds invested in an endowment, can never be spent. The interest earned, dividends and capital gains can be used by the organization each year or re-invested.
How does Sacred Heart determine income from the Endowments?
Our Distribution Policy states that a five-year moving average of the value of the endowment is used as a basis for determining the value of the endowment. Sacred Heart considers 5% of that value to be able to be used towards operating costs, tuition assistance or donor-specified reasons.
HOW DO I CONTRIBUTE?
Gifts can be made at anytime, for any amount, in honor of or in memory of a loved one. Gift certificates can be provided if you’d like to remember someone on a special day such as Mother’s Day, Father’s Day, birthdays or Christmas. Unlike material items, your gift will provide for Sacred Heart Church and Norfolk Catholic School for a LIFETIME.
AM I ACKNOWLEDGED FOR MY GIFT?
It is your choice to remain anonymous or to be publicly thanked. You will be publicly thanked for your gift in the bulletin. A gift of $500 or more allows you to name a plaque on the memorial board at Sacred Heart Church or the board at the Parish Center.
WHAT IS A "NAMED ENDOWMENT"?
A gift of $10,000 over 10 years creates a “named endowment” and forever perpetuates your family name, establishing a legacy that lasts for generations. Named endowments can support a specific parish ministry, scholarship or other mission of the parish.
CAN I STIPULATE WHERE THE MONEY GOES? There are four different Endowment Funds that support four unique areas of our church and school. They are:
Sacred Heart Parish Endowment Sacred Heart has had a presence in Norfolk since 1881. The parish continues to meet the spiritual needs of the Catholic community. In 1987, the Sacred Heart Parish Endowment Fund was created.
The by-laws clearly stipulate that the endowment was formed and would be operated for the support and benefit of the Sacred Heart Church...for the purposes of furthering the religious and educational purposes of the church through the operation of its parish and its religious education program.
They also clearly stated that only the income earned on the fund would be used for parish support, while the principal was to be held to produce income.
Education Related Endowments
In 1999, the Sacred Heart Grade School, Norfolk Catholic High School and Religious Formation Endowments were created so that all students may have the opportunity to receive a Catholic Education. The interest from the endowment funds decreases student cost and makes Catholic education affordable to all families.
- Sacred Heart Grade School Endowment
The cornerstone of Sacred Heart Grade School was laid in 1926. Although the original school no longer exists, the spirit lives on in the facilities at 24th & Madison Avenue (built in 2003). Current enrollment exceeds 400 students in grades K-6. Sacred Heart Grade School continues to be a viable source for educating our Catholic children. - Norfolk Catholic High School Endowment
By 1960, the new high school was built at 24th & Madison Avenue and named Nazarene High School. The name was later changed to Burns Hall in honor of Msgr. Robert P. Burns. In 1966, the parish schools merged with Assumption Academy and the name of the high school was again changed to Norfolk Catholic High School. A cafeteria addition was added in 1997 and a second-story addition was added in 1998. The enrollment continues to exceed 300 students in grades 7-12. - Norfolk Catholic School’s Scholarship Endowment
Tuition for Norfolk Catholic Schools is calculated by grade level. There is no doubt that tuition is an investment and can require a sacrifice on behalf of the entire family. Since it is Norfolk Catholic School’s policy to not deny a child a Catholic education because of an inability to pay tuition, the Scholarship Endowment was created. The income from this endowment helps to reduce tuition for families enabling their children to be a part of Norfolk Catholic Schools.
Religious Education Endowment
The Religious Education Department has been a part of the Parish since Sacred Heart’s existence. It was formed for the purpose of providing religious formation for members of the Parish including Rite of Christian Initiation (RCIA), Adult Formation, Religious Formation for children in grades K-12, sacrament preparation, etc.
These programs provide services and instruction to over 500 families of Sacred Heart Parish each year and are a vital source of educating parish families.
Sacred Heart Endowment Board Members:
Don Polodna, Chairman
Kathy Rockey
Jeff Eisenmenger
Pat Hughes
John Burns
Jim Sinek
Larry Bayer
Jeff Heng
Steve Miller, Parish Council Representative