Parish Endowment Fund
Many times, we are reminded to “remember and pray for those who have filled the pews of OLQM in the past.” They have left us the parish spirit and facilities as their legacy to us. In our desire to pass this legacy on to future generations and to accomplish our mission for those yet to fill these pews, we have established the OLQM Endowment Fund to help address future financial challenges.
Endowment funds are donor-restricted funds that are invested in secure, conservative investments. The returns from that investment are then used for a specific purpose. Endowment funds typically have a perpetual existence. The gift principal will never be used, and only the earnings will be distributed. This allows for the gift to have an infinite capacity to keep giving far beyond the lifetime of the donor.
CLICK HERE to make a regular or one-time contribution through our Parish Giving portal. Select Blue Envelope Parish Endowment Fund from the pull-down menu.
What is the OLQM Endowment financial goal?
Although there is no official campaign to raise money for the endowment, the recommended financial goal for endowment funds is two times the amount of the annual budget. Since OLQM’s operating budget is $1.5 million, the goal for the OLQM Endowment should be approximately $3 million.
Practically, contributing to the Endowment will happen over several years and through the efforts of many people. Currently, the OLQM Endowment has a balance of $95,193. The funds are invested with the Compostela Fund, administered by the Diocese of Brooklyn and comprised of multiple investment managers.
How can parishioners contribute to the Endowment Fund?
Among your regular parish support envelopes, we have included a blue envelope that is labeled Parish Endowment Fund: Building on Foundations of Faith. The purpose is to create awareness of parishioners’ responsibility to provide for future generations and to offer an easy vehicle to accomplish that goal. We ask that you utilize the envelope to help with the endowment goal in any way you can.
You can also make a regular or one-time online contribution to the Parish Endowment Fund.
What about inheritances and large gifts?
Through the grace of God and the generosity of family members, people inherit or receive large monetary gifts. To respond to God’s gracious gifts bestowed by others, we ask that you think of the church as a partial beneficiary. This envelope may be used to fulfill that desire.
What about planned giving and estate planning?
Planned gifts are a way of making a financial gift during your lifetime or through your estate. They are called “planned” because they are typically made after thoughtfully reviewing assets in your estate and planning for their use. Planned gifts to the OLQM Endowment Fund may include: Cash, Life Insurance, Appreciated Securities, Real Estate, Bequests, Gift Annuities, Retirement Plan.
Please contact the rectory at 718-268-6251 to learn more.
Thanking you in advance for your generosity, now and always.