OUR LADY QUEEN OF HEAVEN ENDOWMENT TRUST
The parish endowment trust supports and assists the parish in providing supplemental funding for the apostolate of education, pastoral care, liturgy, social justice, and maintenance of the physical assets of the parish and, in general, to carry out charitable, religious, and educational purposes. The parish never touches the principal but receives annual distributions from investment earnings, year after year, while not spending the original gifts. It is the gift that keeps on giving! Envelopes are available outside the parish office or simply mark ‘Endowment Trust’ on the memo line of a check and return it to the parish office.
FREQUENTLY ASKED QUESTIONS ABOUT THE TRUST
What is an Endowment Trust?
In general, an endowment trust is a financial asset intended to provide long-term financial support to an organization. The fund is made up of donations or gifts that are invested. Only the income generated from these investments—such as interest, dividends, or capital gains—is used for the organization’s operations, while the principal (corpus) remains intact. The purpose of an endowment is to ensure the organization’s financial stability and sustainability, allowing it to plan for the future, support programs, and maintain infrastructure. Over time, the endowment grows through additional donations and investment returns, providing a lasting source of income to support the organization’s mission.
What is the history and purpose of the OLQH Parish Endowment Trust?
In 2001, then-Bishop Raymond L. Burke and then-Pastor Father Dennis Lynch, along with five members of the parish serving as trustees, came together and erected the OLQH Parish Endowment Trust with an initial principal of $100,000 (in part from the Frank Walsh estate). Over the years, the principal has grown to over $221,000 at the end of last fiscal year. The purpose of the fund is stated generally, to allow for maximum use: to support and assist the parish in providing supplemental funding for the apostolate of education, pastoral care, liturgy, social justice, and maintenance of the physical assets of the parish and, in general, to carry out charitable, religious, and educational purposes.
How much income has the Endowment Trust provided to the parish?
In general, Wisconsin law allows for up to 5% of the net fair market value of trust funds to be withdrawn as the annual distribution. Diocesan law limits this amount to 4% to allow for the endowment funds to continue to grow. Since 2014, the OLQH Parish Endowment Trust has provided over $74,000 to the parish to be used to carry out charitable, religious, and educational purposes. Adjusted for inflation into today’s money, that $74,000 is over $87,000!
What is the future of the Endowment Trust?
The trustees of the Fund, who meet yearly, would like to see the fund grow. Policy does not allow the parish to add unrestricted monies to the Endowment Trust from the parish’s general or savings accounts. Only donations given directly to the Endowment Trust can be placed in the fund’s principal. Therefore, the parish has instituted an annual envelope in June to solicit donations to the endowment trust. If the endowment trust reaches $1,000,000, the parish would receive about $40,000 a year in income: that’s the entire net income of the parish picnic! The fund could raise 25% of the parish’s operating expenses if the fund reached $5,000,000!
Is there anything I can do now to support the Endowment Trust?
There are envelopes outside the parish office for donating to the endowment fund at any time or simply note it on the memo line of a check. Additionally, you are encouraged to remember the OLQH Parish Endowment Trust in your will and estate plans: it is the gift that keeps on giving! Just think: even after you’re gone, you can still donate to your parish year after year! General donations and bequests left to the parish cannot be placed in the endowment trust: you must explicitly state that the donation or bequest is for the Endowment Trust. If you have any questions or concerns, please do not hesitate to contact the parish office.
In general, an endowment trust is a financial asset intended to provide long-term financial support to an organization. The fund is made up of donations or gifts that are invested. Only the income generated from these investments—such as interest, dividends, or capital gains—is used for the organization’s operations, while the principal (corpus) remains intact. The purpose of an endowment is to ensure the organization’s financial stability and sustainability, allowing it to plan for the future, support programs, and maintain infrastructure. Over time, the endowment grows through additional donations and investment returns, providing a lasting source of income to support the organization’s mission.
What is the history and purpose of the OLQH Parish Endowment Trust?
In 2001, then-Bishop Raymond L. Burke and then-Pastor Father Dennis Lynch, along with five members of the parish serving as trustees, came together and erected the OLQH Parish Endowment Trust with an initial principal of $100,000 (in part from the Frank Walsh estate). Over the years, the principal has grown to over $221,000 at the end of last fiscal year. The purpose of the fund is stated generally, to allow for maximum use: to support and assist the parish in providing supplemental funding for the apostolate of education, pastoral care, liturgy, social justice, and maintenance of the physical assets of the parish and, in general, to carry out charitable, religious, and educational purposes.
How much income has the Endowment Trust provided to the parish?
In general, Wisconsin law allows for up to 5% of the net fair market value of trust funds to be withdrawn as the annual distribution. Diocesan law limits this amount to 4% to allow for the endowment funds to continue to grow. Since 2014, the OLQH Parish Endowment Trust has provided over $74,000 to the parish to be used to carry out charitable, religious, and educational purposes. Adjusted for inflation into today’s money, that $74,000 is over $87,000!
What is the future of the Endowment Trust?
The trustees of the Fund, who meet yearly, would like to see the fund grow. Policy does not allow the parish to add unrestricted monies to the Endowment Trust from the parish’s general or savings accounts. Only donations given directly to the Endowment Trust can be placed in the fund’s principal. Therefore, the parish has instituted an annual envelope in June to solicit donations to the endowment trust. If the endowment trust reaches $1,000,000, the parish would receive about $40,000 a year in income: that’s the entire net income of the parish picnic! The fund could raise 25% of the parish’s operating expenses if the fund reached $5,000,000!
Is there anything I can do now to support the Endowment Trust?
There are envelopes outside the parish office for donating to the endowment fund at any time or simply note it on the memo line of a check. Additionally, you are encouraged to remember the OLQH Parish Endowment Trust in your will and estate plans: it is the gift that keeps on giving! Just think: even after you’re gone, you can still donate to your parish year after year! General donations and bequests left to the parish cannot be placed in the endowment trust: you must explicitly state that the donation or bequest is for the Endowment Trust. If you have any questions or concerns, please do not hesitate to contact the parish office.
leaving a legacy to the olqh endowment trust
Listed here are the most common types of bequests, followed by suggested language to discuss with your financial advisor for naming the OLQH Endowment Trust as a beneficiary in your will.
Residual Bequest: Allows you to give the balance of your assets or "what is left" after your friends and loved ones are provided for.
Residual Bequest: Allows you to give the balance of your assets or "what is left" after your friends and loved ones are provided for.
- "I bequeath the residue of my estate, after satisfaction of all specific bequests to the Our Lady Queen of Heaven Endowment Trust, Wisconsin Rapids, WI."
- "I bequeath the sum of $_______ to the Our Lady Queen of Heaven Endowment Trust, Wisconsin Rapids, WI."
- "I bequeath to the Our Lady Queen of Heaven Endowment Trust, Wisconsin Rapids, WI, an amount equal to _______ percent of the net value of my estate."
Estate planning can provide a tremendous comfort and blessing to your and your loved ones. There is a certain peace of mind in knowing that your legacy will continue to have a profound and positive impact for many generations to come. By making a legacy gift to the OLQH Parish Endowment Trust, you will will help sustain the parish's apostolate of education, pastoral care, liturgy, social justice, and maintenance of the physical assets of the parish and, in general, to carry out charitable, religious, and educational purposes. The values and principles that guide your life will continue to make a lasting impression in the future, by taking a few moments to plan what you wish to do with your assets. As someone who cares about maintaining Our Lady Queen of Heaven Parish, remembering the OLQH Parish Endowment Trust in your estate plan is a wonderful way to put your values into action, and ensure that Our Lady Queen of Heaven Parish is maintained for future generations.
The information provided on this web page does not constitute legal or financial advice. We encourage you to discuss these options with your own advisors before deciding on the best choice for you. Thank you for your support.