When you reflect on your life, what has made the biggest impact? That answer may lead to the lessons learned and values gained through Sacred Heart Parish and Norfolk Catholic School. That may prompt a follow-up question: “How can I help ensure their future viability as a reflection of my gratitude?”

Our Endowment Funds are a perfect way to do just that. You will make a difference in the future of our parish and school — well beyond what we can see today. These funds provide perpetual income to help support our parish and school with never-ending financial life to our community of faith.

Whether you are interested in giving to our parish or school endowment in general, donating to an existing established fund, or creating your own established fund, we can help lead you to what is most meaningful to you, your life story, and your legacy.

What is an endowment?

By legal definition, an endowment is a type of savings account established by a non-profit that is invested for the long-term benefit of the establishing organization. The principal – the funds that are deposited by the donor – will never be spent. The interest earned, dividends and capital gains can be used or reinvested. Any donor may make any gift amount to the endowment!

Our policy states that a five-year moving average of the value of the endowment is used for determining the value of the endowment, and 5% of that value is used toward operating costs, tuition assistance, or another use specified by the donor.

Benefits of Legacy Giving

• Your gift makes a difference by remaining invested in the endowment. Income from the interest is received in the general fund to help the beneficiary meet operating expenses. The principal remains invested, which means that your gift makes a perpetual impact.
• Gifts may provide a tax benefit for you and/or your heirs. Contact your financial advisor for details.

Sacred Heart Parish Endowment

• Created in 1987
• Purpose is to support and benefit Sacred Heart Parish
• Helps fund the religious and educational purposes of the church through the operation of its parish and religious education program

Norfolk Catholic School Endowment

• Created in 1999
• Purpose is to support and benefit Norfolk Catholic School
• Provides funds for operations, thus serving as assistance for tuition fees and other costs so that every student can receive a Catholic education

Established Funds

• Anyone can create an established fund in the Sacred Heart Parish or Norfolk Catholic School Endowments with a total gift of $10,000 or more.
• The total gift of $10,000 or more may be made in installments for up to three years.
• Established funds may be established in a variety of ways, including cash. Other examples include bequeathing stocks, a retirement plan, a life insurance policy, or through an estate plan using a will or trust.
• Donors may be recognized based on level of giving in multiple ways. Examples include the Donor Wall in the Sacred Heart Parish Center, an annual Mass for the intentions of donors, and recognition in the Annual Report.

Endowment Board

Gifts are invested in a manner which reflects Catholic values and are managed by financial professionals. Local oversight of the investments is led by our Endowment Board consisting of the pastor and lay parish members. Voting members of the Endowment Board are:

• Cole Roberge
• Kyle Koester
• Mandi Thompson
• Fr. Pat McLaughlin

Non-voting staff members of the Endowment Board are:

• Patsy Taylor, Business Manager
• Nick Benes, Development Coordinator

More Information