By Liz Sullivan
The purpose of the Catholic Community Foundation of Santa Clara County is “Building Forever Value for Catholic Ministry.” The foundation, based in San Jose, seeks to build financial security for parishes and other Catholic organizations in the form of endowed funds.
On August 30, at Bishop Patrick J. McGrath’s home, the foundation hosted a Parish Legacy Reception to thank donors for their generosity, and to encourage them to include their parish in legacy plans. The reception was graciously sponsored by Anne and Steve Milligan.
“We build endowments for Catholic ministries,” said Executive Director Mary Quilici Aumack. “We help create a permanent source of income. Our goal is to build endowments with the parishes and watch them grow, with an emphasis on planned giving.”
One of the people who has set up an endowment and is watching it grow is Monsignor Terry Sullivan, who first encountered Aumack when he was a priest in the parish where she grew up – St. Justin.
Sullivan, who spent 17 years as Pastor of Saint Lucy Church in Campbell, started an endowment at the Church last year with $1,000 (the amount needed to start one) and has watched it grow to $40,000. He has also planned a gift to the endowment as part of his estate plan.
“It was very important for me to do something for Saint Lucy’s,” said Sullivan, now retired, “because of what it means to me.”
Founded 12 years ago as part of the Diocese of San Jose’s Capital Campaign, but now a separate organization from the Diocese, the foundation has $40 million in assets and provided $21 million in grants – so far.
“We have built something magnificent,” said foundation board member Pat Waite. “We are going to be able to provide for ministries year after year.”
Also at the reception, Aumack announced the donation of $1 million from an anonymous source, to be used for parish endowments. She said the first $20,000 of that donation will be matched.
“My parents would have joyfully contributed to an endowment at St. Justin,” said Aumack, “but there wasn’t one. Now we provide an opportunity for the generous Catholic Community of Santa Clara Valley to participate in providing FOREVER VALUE.”
Bishop McGrath had a simple message…
“All of us stand on the shoulders of those who came before us,” he said. “We share gratitude with them. We share a faith and an eternal life with them. The Catholic Community Foundation offers us an opportunity to set up endowments for our parishes, demonstrating our gratitude. The foundation has done wonderful things and set us on a real life trajectory.”
Visit cfoscc.org to learn more about the Catholic Community Foundation.