Our community dates back to the mid 1850's when German and Dutch immigrants settled in the Loretto area. The first church was built in 1867. This building also served as our parish school until the 1890's when a separate structure was constructed. From the beginning, our parish has clearly held as its primary mission the Catholic education of our youth. In fact, during the 1990's the community faced the difficult decision of needing to build both a new school and a new church, but only being able to afford one. Today  we enjoy a beautiful new school/parish center, and we look forward to being able to build a new church in the near future. 

As we contemplate our future needs, we must continue to take care of our primary ministry; therefore, it is with great enthusiasm that I join  with our parish leadership to announce the creation of the Saints Peter and Paul Education Endowment Fund. This is a true heritage gift opportunity and a way for everyone who believes in the Catholic education of our children  to leave a legacy of care and support, far and beyond their lifetime. By supporting this endowment fund, we are taking strong steps to ensure the future of our Catholic School. 

Let us keep alive the wonderful tradition of our forefathers! I ask you to prayerfully consider the following information. I hope that each  of us will be able to make a special offering to our new endowment fund. Thank you for your ongoing commitment to our parish, especially your support of our primary mission to share our Catholic faith with our children. May God bless you for your generosity and faithfulness. 

Sincerely,

The Parish Leadership

How is the fund organized?  

The parish of Saints Peter and Paul Education Endowment Fund has been established through the Catholic Community Foundation (CCF). The CCF administers endowment funds for several parishes throughout the Archdiocese. They collect and invest moneys as well as distribute earnings based on individual parish investment. 

A corporate Board has been established within the parish to oversee  and administer earnings from the fund. Members of the Board include: the Pastor, the parish Trustees, and the parish Finance Chairman. Its role and actions are governed by the Endowmen t Fund Corporate Resolution drafted when the fund was established. 

Once a year a form is sent to the parish administrator stating the earnings that can be distributed to the parish for educational needs. At that time, the Corpor ate Board gathers to determine how the distributed earnings will be allocated. If there are no immediate financial concerns, the Corporate Board can choose to reinvest the earnings and postpone any distribution until the following year., Why an endowment at Saints Peter and Paul?, The mission of Saints Peter and Paul is to be a Catholic community, centered in the Eucharist and committed to lifelong worship, stewardship, pastoral life, and education. Catholic education has been a part of our parish missi on for over 125 years. In order to perpetuate the Catholic education of our faith community, we have established the Saints Peter and Paul Education Endowment Fund. 

Our endowment fund is the means for securing the future of Saints  Peter and Paul.  

An endowment is intended to exist for the life of the parish, providing  a steady source of income year after year. The principal of the fund remains  intact. It is invested and managed carefully, and the earnings are used to benefit the educational needs of the parish. This endowment fund provides an alternative source of funds for education, beyond stewardship contributions  and special gifts. This may prove crucial during difficult financial circumstances  or times of special need. 

Income from this fund will be used to support the Academy of Saints  Peter and Paul, along with the Religious Education, Adult, and Youth education  programs of the parish. 

Why give to the fund?  

Your gift to the Saints Peter and Paul Education Endowment Fund will benefit the par ish for generations to come. By giving to the endowment fund, you can continue to practice stewardship beyond your lifetime; you can contribute to the educational needs of the parish indefinitely. The beneficiaries of your generosity are the current and future parishioners of the parish, and the community at large. 

How can you give to the fund?  

First of all, Saints Peter and Paul recognizes that your first responsibility  is to take care of your family and their needs. We encourage you to consult with your lawyer, financial planner and/or tax advisor. They can help you  decide on the most appropriate gift for your personal situation. 

Many endowment gifts are in the form of assets either given currently  or distributed as part of an estate plan. There are also deferred gift options, which will provide you with income during your lifetime. These and other options are explained in more detail below. 

Appreciated property  

You may wish to give assets which have appreciated in value over the years, such as securities, real estate, collectibles, etc. These may include stocks, bonds, a home, farm, or cabin, antiques, art, books, etc. In addition to the tax deduction for the gift, you avoid capital gains tax you would have incurred if you sold the appreciat ed item. The property will not be part of your estate, therefore, you would avoid estate tax. 

Charitable remainder trusts 

Appreciated property such as securities or cash is transferred to a trust designated to ultimately benefit the Saints Peter and Paul Education Endowment Fund. During your lifetime, you choose a rate of return or a fixed dollar amount to be received as income to you. You may also designate one beneficiary to continue to receive this income. Upon death, the remaining  assets in the tru st benefit the Saints Peter and Paul Education Endowment  Fund. You receive a tax deduction in the year of the gift, and you avoid capital gains tax on any appreciated securities used to fund the trust. 

Charitable gift annuities  

This option is similar to a charitable remainder trust, but relies on a contract instead of a trust and you receive a fixed percentage of your original gift as income for life. 

Life insurance gifts 

You may wish to name the Saints Peter and Paul Education Endowment Fund as the owner and sole beneficiary of a new or existing life insurance policy. A special calculation is made to determine the amount of your tax deduction. Upon death, the proceeds a re exempt from estate tax. 

Life estate gifts  

A life estate gift is similar to a gift of an appreciated residence, except that you continue to live in the home, farm, or vacation home during  a specific period (usually your lifetime). You receive an immediate tax deduction, and avoid capital gains tax and estate tax. 

Cash gifts 

One of the most standard and familiar ways to give. Simply write a check to: CHURCH OF SAINTS PETER AND PAUL, LORETTO - PARISH EDUCATION ENDOWMENT  FUND. The money will be run through the parish books for record keeping purposes and then deposited directly into our fund administered by the Catholic Community Foundation. 

An Investment in Faith 

Please contact the parish office for more information.