SEMINARIAN FUND - Father Brian Kane (left) and Deacon Steven Thomlison, who will be ordained a priest this May are pictured. The Catholic Foundation manages the Seminarian Burse Fund which supports the seminarians studying for the Diocese of Lincoln. (Photo courtesy Catholic Foundation)
(SNR/CF) - The Catholic Foundation of the Diocese of Lincoln announced its latest distribution of $289,386 to retired priests, Catholic churches, Catholic elementary schools and organizations in southern Nebraska.
This year marks the Catholic Foundation’s 10th anniversary. Since it began in 2000, the Catholic Foundation has distributed more than $5.6 million. In 10 years, the Foundation has grown from three funds to more than 50 different endowments and funds valued at $29.8 million. All assets are restricted for various Catholic schools, parishes, and organizations.
The Foundation’s three original funds are three of its largest. The Dillon Scholarship Fund, the Retired Priests’ Endowment, and the Grade School and Religious Education Endowment all provided money in the Foundation’s latest distribution. The Dillon Scholarship Fund recently provided scholarships to 166 Catholic school families in low income households. The Retired Priests’ Endowment gave $64,411 to support the 24 retired priests in the diocese. The Grade School and Religious Education Endowment gave $65,383 to the 24 Catholic elementary schools and all parish CCD programs.
“The next 10 years will be a crucial time for development for all our Catholic communities with endowments and funds invested with us,” said executive director, Michael Henkenius. “The investment market environment has been extremely difficult the last 10 years. The Foundation has weathered two historic bear markets. But our parishes, schools and organizations continue to have confidence in the Foundation’s purpose and management of their endowments and funds. We are much stronger when we pool our resources,” he said. “We are dedicated to the professional management and growth of our endowments and funds, and will continue to be a resource the next 10 years and beyond.”
The Foundation has a 20-person board of directors responsible for the governance and management of its endowments and funds. The Foundation is audited each year by an independent auditor and an annual report is produced each year as an insert in the Southern Nebraska Register. Copies of the audit are available upon request.