2017-18 Annual Report.Indd
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Catholic 2017 -18 Foundationfor the People of the Diocese of Annual Report c atholicfoundationdob.com Bismarck Ensuring the faith for generations to come Ensuring the faith ... for generations to come Message from the My dear Brothers and Sisters, Again, I have the privilege to write you and express my sincerest gratitude for your continued support for your parish, our Catholic schools, and our Diocese Bishop by your generous and sacrificial financial gifts. You continue to give back to Almighty God and His Holy Church your gifts as a sign of your love and gratitude for everything God has and continues to bless you with. All that you have given this past year and as demonstrated in this annual report continues to bear so much good fruit for all of our parishes, Catholic schools and parish Religious Education programs of catechesis, our parish and diocesan outreach ministries to the poor and all in need, our seminarians and our priests both active and retired. What is the most precious gift you continue to give is your fervent and regular prayers. No words of thanks can express how much your prayers mean to and for all of us. The Catholic Foundation is, in reality, your Foundation and by your wonderfully generous support it will continue to produce those much-needed funds and assistance so vital to the continuation of our acts of Corporal and Spiritual Mercy for everyone. By your continued generous support and prayers you are creating a holy legacy for your children and generations of future Catholic women and men. What we do together is for the greater honor and glory of Almighty God. Your support is so appreciated. Thank you. Be assured of my daily remembrance of you and your loved ones at the Holy Sacrifice of the Mass every day. May the Holy Family of Jesus, Mary and Joseph keep you in their loving and safe embrace. Gratefully yours in Christ Jesus, The Most Reverend David D. Kagan Bishop of Bismarck 1 Message from the President Catholic Foundationfor the People of the Diocese of Dear Friends, c atholicfoundationdob.com Bismarck Ensuring the faith for generations to come As President of the Board of Directors, I am pleased to bring you this 2017-2018 Annual Report of the Catholic Foundation for the People of 520 N. Washington St. the Diocese of Bismarck. Bismarck, ND 58501 701-204-7206 Because of your great faith and stewardship, the Foundation has seen 877-405-7435 yet another fruitful year. I invite you to spend some time with this CatholicFoundationDOB.com report to witness the difference you are making, and as you do, please note some of the areas where the Foundation is looking to offer more Member support. In this year’s report, we are highlighting the Seminarian Fund and the St. John Vianney Endowment Fund. Most Reverend David D. Kagan, Your Catholic Foundation has seen tremendous growth this year, which D.D., P.A., J.C.L Bishop of Bismarck directly impacts the number of ministries supported and at what level. Net assets have increased by $1,942,894 with total assets of $30,554,939 Board of (an increase of 8.3% over last year’s report). As a result, I am proud Directors to say that this year we have $3,307,741 to distribute across diocesan ministries (an increase of 24.3% over last year’s report). Deacon Michael Fix, President In addition, the Foundation continues to grow and develop as an Dean Rubbelke, organization serving the people of Western North Dakota with Vice President resources and opportunities for individuals and parishes to learn about, Steve Wangler, and participate in, our desire to “ensure the faith for generations to Secretary/Treasurer come”. We welcome to the Foundation Matt Stevenson as our Executive Director, and Paige Kuznia to the position of Donor and Planned Very Rev. Shane Campbell Giving Assistant. We have introduced our first annual Magi Appeal, an Very Rev. Brian Gross opportunity to support all of our endowment funds during the Advent Very Rev. Jared Johnson Season, offering gifts to our King. The Foundation will also have a new Very Rev. Chris Kadrmas, name beginning during 2019, a name that will reflect its people-focused, J.C.L Diocesan-wide scope. These are exciting times for your Catholic Patrick Lengenfelder Foundation! Rev. Msgr. Gene On behalf of Bishop Kagan, the Board of Directors and the Staff of Lindemann, J.C.L. The Catholic Foundation for the People of the Diocese of Bismarck, we Very Rev. Adam Maus want to “THANK YOU” for your continued support. May God bless Rev. Msgr. Thomas Richter you and your loved ones each and every day. Deacon Dennis Rohr We encourage you to visit our website at CatholicFoundationDOB.com Aaron Schmit or call our office at 701-204-7206. We are happy to help assist in any Todd Schweitzer way possible. Very Rev. Keith Streifel Sincerely, Deacon Michael Fix, President “Ensuring the faith for generations to come” 2 Statement of Financial Position June 30, 2018 Assets Cash and Cash Equivalents $ 178,802 Accounts/Pledges Receivable (net of allowance) 23,391 Interest Receivable 61,578 Annuities Receivable 455,862 Investments 29,835,306 TOTAL ASSETS $30,554,939 Liabilities and Net Assets Liabilities Accounts Payable and Accrued Expenses $ 308,285 Funds Held for Others 4,990,492 Total Liabilities 5,298,777 Net Assets Temporarily Restricted 8,408,118 Permanently Restricted Endowments 16,848,044 Total Net Assets 25,256,162 TOTAL LIABILITIES AND NET ASSETS $ 30,554,939 2018 Board Officers Deacon Michael Fix, Dean Rubbelke, Steve Wangler, President Vice President Secretary/Treasurer Catholic Foundation Mission To promote the mission of the Catholic Church by encouraging stewardship among the people of the Diocese of Bismarck while providing morally and socially responsible means for financial investments. 3 Recap of Funds June 30, 2018 Type of Funds Fund % Fund Distributions % Distribution Balance Balance Available Available Agency Funds Parish Agency Funds $ 2,465,568 8.15% $ 265,111 8.01% Other Agency Funds 2,462,332 8.14% 227,503 6.88% 4,927,900 16.29% 492,614 14.89% Endowment Funds Parish Endowment Funds 5,786,090 19.13% 244,710 7.40% Educational Endowment Funds 3,280,077 10.85% 155,905 4.71% Priest Care Endowment Funds 2,523,430 8.34% 132,144 3.99% Seminarian Scholarship End. Funds 8,245,485 27.26% 409,656 12.38% Other Endowment Funds 3,116,842 10.30% 123,409 3.73% 22,951,924 75.88% 1,065,824 32.21% Other Funds Educational Funds 214,456 0.71% 11,818 0.36% Human Services Funds 2,012,880 6.66% 1,654,975 50.05% Other Funds 139,494 0.46% 82,510 2.49% 2,366,830 7.83% 1,749,303 52.90% TOTAL FUND $ 30,246,654 100.00% $ 3,307,741 100.00% 4 Kurt P. Martin or Yolanda Crespo Investments Endowment Funds Patrick & Beverly Altringer 2017-2018 fiscal year donors Katie Deutsch Annunciation Monastery Endowment Fund, Hugh & Colleen Carlson Bismarck Steve & Janet Schwan Anonymous Home on the Range Fr. Fahnlander Endowment Ascension Endowment Fund, Bismarck Fund Brandon & Ellen Holt Immaculate Conception Endowment Fund, Max Bishop of Bismarck Endowment Fund Light of Christ Catholic Schools Operations Bishop Ryan Catholic School Endowment Fund, Endowment Fund Minot Hugh & Colleen Carlson Rosina Medel Dale & Theresa Heinert Bishop Zipfel Endowment Fund Arthur Mildenberger Cathedral of the Holy Spirit Endowment Fund, Matt & Patsy Peyerl Bismarck North Dakota Teachers Education Program Steve & Karen McCormick Endowment, Bismarck Bruce & Karin Haskell Our Lady of Consolation Endowment Fund, Cathedral of the Holy Spirit - Eleanor Ehrmantraut Alexander Trust Endowment Fund, Bismarck Our Lady of Grace Endowment Fund, Minot Cathedral of the Holy Spirit - Hunkele Family Marietta Clemens Catholic School Endowment Fund, Bismarck Priests’ Care Endowment Fund Cathedral of the Holy Spirit - Grace Norman Thomas Berger (in memory of Tim & Pauline Berger) Endowment Fund, Bismarck Hugh & Colleen Carlson Cathedral of the Holy Spirit - Jim Welch Walter & Lynda Ouradnik Endowment Fund, Bismarck Queen of Most Holy Rosary Endowment Fund, Catholic Schools and Religious Education Stanley Endowment Fund Queen of Peace Endowment Fund, Dickinson Annonymous Sacred Heart Endowment Fund, Glen Ullin Joseph & Heather Berger Sacred Heart Endowment Fund, Plaza Dan Ganje Sacred Heart Endowment Fund, Reeder Richard & Robin Schimke Sacred Heart Endowment Fund, Scranton Christ the King Endowment Fund, Mandan Sacred Heart Endowment Fund, Solen Justin &Maren Gerhardt Sacred Heart Endowment Fund, White Shield Sharon Harding Sacred Heart Endowment Fund, Wilton Christ the King Agnes Larkin Endowment Fund, Seminarian Scholarship Endowment Fund Mandan - Major (includes Burses) Christ the King Education Endowment Fund, Anonymous Mandan St. Ann’s Society Christ the King Foundation Education Endowment Russell & Pamela Behm Fund, Mandan John & Robynn Berger Allan & Darlene Morris (in memory of Clarence Morris) Mark & Kitty Burke Christ the King Fr. Al Leary Endowment Fund, Allan Doppler Mandan Leonard Eckroth Christ the King Msgr. Aloysius Galowitsch Michael & Julie Fedorchak Endowment Fund, Mandan Pius & Lynn Fischer Thomas & Karen Lengowski Michael & Karen Grosz Christ the King School Endowment Fund, Mandan Carol & Steve Hall Corpus Christi Endowment Fund, Bismarck Mike & LuAnn Hanson Keith Horner Caroline Heidt Delores Murrey Mike & Geris Hopfauf Jason & Nigeria Stahl Scott & Patty Hutzenbiler (in memory of Fr. George Donald & Georgella Wolf Dukart) Corpus Christi Poor & Needy Endowment Fund, Alyssa Johnson Bismarck Brandon & Adrienne Keller Church of Corpus Christi Gerald & Eleanor Knudson Denis & Patricia Montplaisir