The Catholic Schools Foundation (CSF) has enjoyed a very busy and successful year. All of the important “numbers” that we follow (contributions, return on investments, and support to the schools) met or exceeded our expectations. This top line summary is might be all you need to know….however, the details are worthy of exploration.
For starters, the financial improvement in FY ‘11 was a combination of an outstanding level of contributions ($286,000) and appreciation of invested assets ($609,000). Total assets finished the year at nearly $5,312,000 (a gain of 19% over FY 10).
Our contributions to the schools ($167,000) were also up dramatically over FY 10 ($100,000). The improved financial picture is only part of the story. CSF made a change in our “funding formula” for the schools. We shifted from a net income based method to a percentage of assets approach. The wording in our bylaws provides the opportunity to get the schools more money when financial times are good…and, the ability to control the support when times are more risky. This flexibility will provide your CSF Board of Trustees the tools required to protect our corpus while still supporting the schools in a significant way.
CSF also engaged in another bylaw change that expanded our Board of Trustees by adding two “at large” seats. The extra amount of volunteer talent supplied by these individuals will increase our skill level and this will lead to more accomplishments in the future.
In May, CSF staged its annual Recognition Dinner. Sr. Mary Donald was recognized as our Founders Award recipient. I think we can all agree that her commitment to the Catholic education system in Winona make her a very worthy honoree.
The Father Paul Nelson Legacy Society continues to add new members. Its focus on “deferred giving” thru estate planning provides a meaningful way to support CSF. Donors appreciate the ease and advantage of using estate funds for this philanthropic goal.
In closing, please consider supporting CSF during this 2011-2012 fiscal year. Every dollar donated is a permanent investment and the earnings from your contribution provide extra support for Catholic education in Winona.
Sincerely,
Ted Biesanz, Jr.
Father of James (Trip) ‘05, Rory ‘08 and Molly ‘11
