Foundation Distributes Over $1M in 2015

Foundation Board President Jerry Cashman presents a grant check to Bishop Thomas at the Feb. 4 Board Meeting.

In fiscal year 2015 the Foundation distributed over $1 million in endowment earnings and unrestricted resources to support the parishes and ministries of the Diocese of Helena.

The Foundation Board of Trustees recently approved making an additional grant from available unrestricted assets. At its February 4 board meeting, the Foundation Board presented a check to Bishop Thomas for $34,229 (photo) to be used for his ministry and pastoral outreach.  Additionally, the Foundation Board of Trustees approved distributing $57,120 among the 68 parish endowment funds, as follows:

  • $420 will be placed in each of the 68 parish endowment funds (non-parish and specific ministry endowment funds are not eligible) and will be reflected on the 3/31/16 quarterly statement as a contribution from the Foundation.
  • An additional $420 is available as a match to each of the 68 parish endowment funds.  If the parish invests in their fund on or before June 30, 2016 (through a donor gift or using its own money), the Foundation will match that contribution up to $420.

The Foundation for the Diocese of Helena, Inc. recently completed the annual independent audit of its 2015 Financial Statements.  The financial statements and independent auditor’s report is available on the Foundation’s website at www.fdoh.org

The trustees and staff of the Foundation are pleased to report that your Foundation is financially healthy and growing.  Assets at fiscal year-end were nearly $30 million.  Of that, approximately $20 million are permanently restricted endowed funds with most of the remaining being donor-restricted gifts and investment gains to be used in the future. 

To learn more about the Foundation and its endowment funds, contact Foundation Executive Director Jeanne Saarinen at jsaarinen@diocesehelena.org, or (406) 442-5820, ext. 36.

View the columns page for more from Jeanne Saarinen at the Foundation.

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