- Candace Neff Director
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This year marks the 12th anniversary of The Northern Michigan Catholic Foundation (NMCF). To commemorate the occasion the weekend of September 18 and 19, 2010, has been designated NMCF Weekend.
The NMCF is an endowment-based fiduciary body that supports the Catholic ministries here in northern Michigan. The NMCF allows donors to designate their gift to support a specific parish, school or a diocesan ministry, or they can leave a gift undesignated to meet the needs of the Diocese of Gaylord as they are determined by its Board of Directors each year.
Founded by Bishop Patrick Cooney in 1998, the NMCF was organized to provide long-term support to Catholic ministries here in the Diocese of Gaylord. Individual parishes and schools benefit from investing in the NMCF by placing an endowment and receiving the interest generated from the corpus of the individual fund.
For example, if a donor were to leave an estate gift of $1,000,000 through the NMCF, the designated entity specified by the donor would receive semi-annual interest payments generated by that gift. The interest payments are based on market performance and the original donation remains in the fund for perpetuity, continuing to provide funding to the specified ministry into the future. In addition, donors can be assured that investments by the NMCF are socially responsible.
Endowments can be general, or a designation can be made that is more specific. For example, if a donor wanted to make sure that their parish has funding for structural repair a restoration fund could be established for that purpose. If they wanted to ensure that the parish cemetery has funding for upkeep, an endowment could be placed to aid in its maintenance for years to come. If a donor wishes to support the ongoing education of priests and seminarians, or to educate children at a Catholic school all those options and more are available. Donors to the Foundation help ensure that Catholic teachings will remain alive and vibrant in northern Michigan for our children and our childrens children.
Thats one of the best reasons to invest in the NMCF, noted Danielle Parish, Executive Director for the foundation. The gift from the donor benefits the ministry closest to their heart now, and also a hundred years from now.
Currently there is $7.4 million in the NMCF corpus and r ecently a new endowment fund was established within the NMCF specifically for the support of catholic schools in the Diocese of Gaylord.
Types of gifts accepted by the foundation include: cash, securities, charitable gift annuities, charitable remainder trusts, charitable lead trusts, life insurance and bequests.
We hope this weekend will help promote an awareness of the NMCF and help highlight what is possible, Parish said. Of course, we would be happy to visit with those who might consider making a financial commitment either today, or through their estate plans.
For more information about the Northern Michigan Catholic Foundation or to receive a copy of the Annual Report, please contact Parish at 989.732.5147 or via e-mail at email@example.com. Brochures and additional information are also available here.
Current Endowments within the NMCF
In addition to receiving immediate gifts, the Northern Michigan Catholic Foundation can be named in wills and a variety of trust arrangements. Donations can be made for the benefit of any Catholic parish, school, program, ministry, agency, or organization with the Diocese itself. Some of funds currently established within the NMCF include:
- Seminary Fund
- Vocations Fund
- Knights of Columbus Vocations Fund
- Marriage Ministry
- Charitable Works Ministry
- Hispanic Ministry
- Indian Ministry
- Lay Leadership Ministry
- Lay Leadership Scholarship Fund
- Social Ministry
- Emmaus Society
- Youth Ministry
- Our Lady of the Woods Shrine Endowment (Mio)
- Priest's Education
- Grand Traverse Area Catholic Schools (Traverse City)
- St. Mary Cathedral Schools (Gaylord)
- St. Ann School (Cadillac)
- Catholic Schools
- St. Joseph (West Branch) Catholic Cemetery Fund
- St. Joseph (West Branch) Endowment in memory of the donor Marion M. Chadwick
- St. Francis of Assisi Endowment (Traverse City)
- Immaculate Conception Restoration Fund (Traverse City)
- Stevenson Fund for Religious Education
- Diocese of Gaylord
- Catholic Human Services