By Paul Dobbyn
SUNSHINE Coast man Kevin Whelan said there were pragmatic reasons for his family’s generous response to an invitation to set up an endowment fund to support Brisbane archdiocese’s agencies and ministries.
“I’ve always felt if you invest a dollar and nothing happens, at least you’ve still got a dollar to try again,” he said.
“That way, you might get a second, third and even fourth chance.
“Whereas if you spend a dollar and it’s gone, you can only hope it did some good.”
Another reason is that Mr Whelan has turned 79 this year.
“Next year, I’ll be 80,” he said.
“It’s good to think that my family’s endowment will continue to support organisations, ministries and individuals carrying out the archdiocese’s mission into the distant future.”
Archdiocesan Resource Development director Mary Macuga said potential donors were starting to catch on to the benefits of setting up endowment funds with the Catholic Foundation.
“Endowments are permanent funds that literally last forever,” she said.
“When someone creates an endowment fund, which is typically named in honour or memory of someone special, they are creating a legacy that will live out their faith and carry on their values in perpetuity.
“The initial gift to an endowment remains intact, while the earnings serve as an ongoing source of annual grants to the most current and important programs within the archdiocese.
“It’s a way of creating sustainable funding for the good works of the Church.”
Mrs Macuga said other endowment funds already up and running include the Alan Forbes Youth Ministry Fund, the Douglas Foundation, named in memory of Fr Francis Douglas, and the Religious Ministry Fund.
The generosity of these donors is about to bear fruit.
The Catholic Foundation Grants Program is preparing to award more than $100,000 in grant money from endowments before the end of 2014.
“We are so excited to launch the Catholic Foundation’s Grants Program and to see firsthand how a donor’s generosity can have an extraordinary impact, now and 50 years from now,” she said.
“Among requirements for those applying for such a grant are that the project would have specific and measurable goals and that it is a well-planned approach to solving a problem and delivering services within the archdiocese.”
The cut off date for grant applications is November 10 and information and application forms can be accessed at www.catholicfoundation.org.au/grants
Mrs Macuga said the Catholic Foundation continued to look forward to more discussions with donors considering setting up endowment funds.
“These funds can be opened with a gift of $10,000 or more,” she said.
“As the need for quality programs and services continues to grow, we hope more individuals will consider permanently-named endowments.
“Such generosity can make a difference forever.”
For information about endowments, phone (07) 3324 3200 or email email@example.com.