In 2001, Immaculate Conception Parish banded together to support a Capital Campaign to construct a new gym and junior high classrooms. When the Bishop approved the "United in Purpose, Renewed in Spirit" Campaign, he further required the establishment of the Immaculate Conception School Endowment Fund.
Under the guidelines set by the Toledo Diocese, 25% of the funds collected by the Capital Campaign were deposited into a restricted fund for the purpose of perpetuating the cause of Catholic education at Immaculate Conception. Since the initial deposit of campaign funds in March of 2002, the Fund has topped $525,000 through successive campaign funds and individual donations, including a recent bequest.
The mission of the Fund is to use a portion of the earnings each year to offset the cost of Catholic education. The Fund has generated $151,164 of earnings with 75%, or $113,373 distributed directly to the school to assist with general operating such as salaries, textbooks, and technology. Per the Fund by-laws, the remaining 25% of earnings is reinvested to promote continued growth of the Fund. As the Fund continues to grow, the distributions will increase.
The Endowment Fund Board oversees the investment of the Fund, for the purpose of safe growth and earnings. Board of Trustee terms are three (3) years in length; up to a total of six (6) years. The Pastor and School Principal are permanent members of the Board.
The Capital Campaign that was responsible for the base development of the Fund has come to a close. Funding is now supported by the generous donations of individuals and other fund raising events sponsored by the Board of Trustees. The Board hosted several New Year's Eve Dinner Dances, continues to sponsor the 50/50 drawing during the Spring Fling Reverse Raffle, and the Annual Chicken BBQ during the ICS Back-to-School Open House.
It is the Board's intention to reinforce the awareness of the Endowment Fund's existence and work to increase contributions by means of direction donations from Sunday envelopes, memorial contributions, alumni support, donations honoring special events, anniversaries and retirements, as well as through planned gifting created by legacy events. Please contact Fr. Gase or Joy Tokarsky with any questions or further information.