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Our Lady of Holy Hope Endowment Fund
Catholics are called by God to proclaim the gospel of Jesus Christ by living out the spiritual and corporal works of mercy. Catholics everywhere are encouraged to live the mission of the Church.
Tremendous opportunity exists at Our Lady of Holy Hope to support efforts that touch the lives of hundreds of people each day.
Our Lady of Holy Hope Endowment Fund is being established to provide parishioners with a planned giving vehicle to practice wise stewardship and thoughtful sharing of their financial resources. The Endowment is a vehicle through which donors can express their faith by supporting the Christian work of the Catholic Community.
Our Lady of Holy Hope Endowment Fund will be a fund of the Catholic Foundation of Maine, a soi(c)(3) public charity, which assists parishes, schools and other Catholic organizations as well as individuals in establishing endowed funds.
The Catholic Foundation of Maine was established in 2003 to provide donors with a planned giving vehicle to practice wise stewardship and thoughtful sharing of their financial resources. The Foundation is a vehicle through which parishes can establish endowments to promote ongoing financial stability. It is also a means through which donors can express their faith by establishing or adding to long term endowment funds to benefit any number of Catholic causes.
The Campaign
Introduction
The Catholic population in Maine is aging, and planned gifts provide the opportunity to secure the future for Our Lady of Holy Hope. Our new Endowed Fund is uniquely poised to provide tremendous and unparalleled strategic philanthropic support to Catholics in the Castine community who wish to support the ministries of the Parish now and for many years to come.
Definition
An endowment is an established fund of cash, securities, or other cash, securities or other assets to provide income for maintenance of a nonprofit organization, such as a parish or Catholic school. Endowment funds generally are established by donor-restricted gifts to provide a permanent endowment which is to provide a permanent source of income.
Purpose
Our Lady of Holy Hope Endowment Fund was established in 2006 at the Catholic Foundation of Maine to create a way for all parishioners to make a lasting legacy that will benefit the Our Lady of Holy Hope and its mission.
Your gift to the Endowment Fund, whether made during your lifetime or through a bequest or other planned gift, will be pooled with all gifts to the Fund and invested according to the Catholic Foundation's prudent investment policy. Each year a distribution will be available from the Fund to support general operations, programs or any other identified need of the Parish.
In the event that Our Lady of Holy Hope is scheduled For closure or consolidation, or the Board of Trustees of the Foundation determines with good reason that the purpose(s) of the Fund can no longer be achieved, then the Board of Trustees, after agreement with the Endowment Fund Advisory Board, shall in its sole discretion determine how best to operate and utilize the Fund thereafter in a manner most consistent with the wishes of the donors of the Fund.
Our Lady of Holy Hope
137 Perkins Street
Castine, ME 04621
Phone: 207-469-3322
The Catholic Foundation of Maine
P O Box 11559
Portland, Maine 04104-7559
207-321-7835
Source:
Our Lady Of Holy Hope Catholic Church, Castine, Maine
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