What is an endowment?
An endowment is an account which provides an annual income. The principle of the fund remains invested. Annual earnings are used to meet various needs and programs. The Holy Family Cathedral School endowment provides the school with a source of income each year while the principle is not touched.
Why does a school, Holy Family Cathedral School, need an endowment?
Tuition alone does not cover the operating cost for a school. An endowment provides the school with an annual and steady source of income. As the endowment grows, the interest income grows. It allows the school to control some costs and to make advancements in the areas that are important to the school community.
How is the money used?
Each year the interest income goes into the curriculum budget and also towards tuition assistance. This interest income helps HFCS control costs, meet curriculum needs, attract and secure quality teachers, and provide for the operating cost of the school. It secures the viability of Holy Family Cathedral School as a place which provides a quality, faith-based education.
How and when did this endowment start?
In 1992, the Sisters of St. Joseph gave a significant gift to HFCS in order to start an endowment. In 2004, HFCS officially opened an account for the express purpose of creating an endowment that would bring in an annual and dependable income. In 2005, the account reached $100,000, and the endowment was officially formed.
Where do we have the Endowment?
The Holy Family Cathedral School Endowment is under the auspices of the Orange Catholic Foundation, a distinct and separate non-profit of the Diocese of Orange.
Who makes the investment decisions?
The Orange Catholic Foundation has a Board of Directors. This Board has invested its accounts with Christian Brothers Investment Services. When a donor makes a gift to HFCS for the endowment, HFCS deposits that gift with the Orange Catholic Foundation. Gifts can also be made directly to the Orange Catholic Foundation (714-282-3021) and designated for Holy Family Cathedral School.
How safe is the Orange Catholic Foundation?
The OCF is a separate non-profit with a 501(c)(3) status of its own. Money deposited into this foundation is not used for lawsuits. Money deposited into the HFCS Endowment is used for Holy Family Cathedral School.
Why should I give to the Endowment?
Because you care about the future of Catholic education! Catholic education is the church’s future. Making a donation to the Endowment is leaving a legacy for the future. As the endowment grows, the interest income helps secure the viability of this school for years to come.
How do you make a donation to the Endowment?
- Donations can be made in cash in a single payment or on a monthly, quarterly, or annual basis.
- Donations can be made by check, credit card, or automatic deposit.
- Donations can be made through stock options, through a funded life insurance policy, through the sale of real estate, through wills and bequests, and through IRAs.
- Donations can be made as a result of estate planning and include Charitable Remainder Trusts.
- Donations may be matched by an employer, increasing the impact of your gift.
- Donations can be made online directly https://orangecatholicfoundation.org/give-now/hfcathedralfunds/ at the Orange Catholic Foundation.
Talking to an estate planner, a lawyer, or an insurance agent can give you ideas of how to donate to the endowment now, as well as for the future. You can call the Orange Catholic Foundation at 714-282-9021 and discuss opportunities for making a gift.
Who has made a donation to the Endowment?
Our donors include our current and past parents, our alumni, our parishioners, and businesses in the community. Many businesses match the donations that their employees make. Donations can be corporate as well as personal.
What can I do now?
Decide that you want to be a part of Holy Family Cathedral School’s future. Consider the donation choices and how you can help. Then, make a gift to the endowment knowing you are contributing to the future of the school.
Holy Family Cathedral School
~Securing the Future of Catholic Education~
Contact the HFCS Office of Development for more information