What is the present value of the Pax Christi Community Endowment Fund?
As of March 31, 2018 the Endowment total is $293,662, a number lowered by $10,000
which reflects Pax Christi’s annual Grant received March 2018.
$9,000 was awarded to the Justice Grant Board for addition to their Justice Grant awards for 2018
$1,000 was awarded to the Summer 2018 Senior High Mission Trip
CLICK HERE to view the informational letter from Fr. Bill Murtaugh.
What is the purpose of the Pax Christi Community Endowment Fund?
The Pax Christi Community Endowment Fund was created to perpetuate support for the core values, mission, and ministries of Pax Christi Catholic Community.
What is our current Endowment Fund goal?
The original goal of the Pax Christi Community Endowment Fund was to collect new donations from members in order to secure the matching grant from the Catholic Community Foundation (CCF).
With the securing of a $25,000 matching grant from CCF and the establishment of the Pax Christi Community Endowment Fund, work has commenced to increase the fund through additional contributions and estate gifts so that proceeds will be able to complement the parish annual justice grants.
What is an endowment fund?
A parish endowment is an investment fund that lasts forever. It is managed to protect and grow the principal in perpetuity. The parish receives a portion of the endowment balance- a grant - to use each year. Over time, as the principal grows, this annual grant grows too.
A legal document called a gift instrument governs an endowment and ensures the parish receives a stable source of income, safe from the unpredictability of the future. This document also ensures gifts that donors make to the endowment will, in fact, last forever.
Why did you start an endowment fund now?
Pax Christi is financially stable.
- Thanks to the gifts of the Crossroads Fund, we have adequate funds in reserve to meet the maintenance and upkeep needs of the building and grounds.
- Since 2011, Pax Christi has been debt-free.
- We have built a reserve of six months of income that can serve as a “rainy day” fund.
- The time is right to help us complement the parish’s Justice Grants and live our mission and vision out loud and forever.
Our goal was to raise a significant amount of money to meet the matching grant deadline to launch the Pax Christi Community Endowment Fund. That way we can see a more sizeable return in the first year when we receive our first round of grants, and then continue to grow the fund through education, encouraging bequests, annual celebrations, and reinforcing that the endowment is an integral part of ongoing stewardship efforts.
Even more exciting, Pax Christi applied for and received the Delora Mayer Matching Grant for $25,000 from the Catholic Community Foundation to start up the Community Endowment Fund.
Who is Delora Mayer?
Delora Mayer passed away in 2015, leaving a charitable estate gift with the Catholic Community Foundation (CCF). This gift will be divided into grants to help local parishes start up endowment funds to further their mission and vision. Pax Christi was the second area parish to receive this matching gift. We ask that you keep Delora Mayer and her generosity in your prayers.
Is there a minimum donation amount required to give to the Pax Christi Community Endowment Fund?
CLICK HERE to Give to the Pax Christi Community Endowment Fund Now
No, gifts can be made at any time of the year and of any size. You can use an endowment envelope or give online using the link on our website.
Call the Parish Financial Manager, Sue Fier at 952-405-7202 to arrange electronic transfer, credit card, stock, or other charitable fund gifts.
Do I have to be a Pax Christi member to contribute?
No, remember the sign on the corner reads “All are Welcome” and that includes donations to the Pax Christi Community Endowment Fund.
What are the ways I can donate to the Pax Christi Community Endowment Fund?
Cash or Stock
- Give any amount, any time! There is no gift too small and all gifts make a difference.
- Make checks out to Pax Christi and note that your gift is for the Pax Christi Community Endowment Fund.
- Gifts of stock are converted to cash, and the value is added to our fund.
By donating appreciated stock, you eliminate capital gains tax while supporting our community. Consult with your tax or financial advisor to find out if this is applicable to your situation.
Bequest in your will or estate plan
- You can include Pax Christi in your will or estate plan.
- You can designate a specific dollar amount or percentage of your estate as a gift to the Pax Christi Community Endowment Fund.
- Contact your advisor to designate/revise your beneficiary for gifting to the Pax Christi Community Endowment fund: I/we would like to direct this portion* of my/our estate to Pax Christi Catholic Community, 12100 Pioneer Trail, Eden Prairie Minnesota 55347, to specifically support the Pax Christi Community Endowment Fund at the Catholic Community Foundation. *percentage or amount of gift
Charitable Gift Annuity (CGA)
- A CGA provides you with regular payments for the rest of your life. At the end of your life, the remaining balance of your annuity becomes a charitable gift to Pax Christi at the Catholic Community Foundation.
A minimum gift of $10,000 is required to establish a CGA.
Please speak with a CCF representative for specific details.
Life Insurance or IRA Beneficiary Designations
- You may name Pax Christi as a full or partial primary or contingent beneficiary on your life insurance policy.
- If you donate a policy, you may deduct its fair market value (as determined for tax purposes) or the cost basis, if lower.
- In the case of retirement plan assets, such as an employee plan, IRA, or tax-sheltered annuity, your beneficiaries will owe income tax on these assets. Donating even a percentage of your plan can provide a significant tax benefit.
Donation of Real Estate
- A gift of real estate can also benefit Pax Christi. Almost any type of real estate may be donated to Pax Christi, including a personal residence, commercial building, vacation home, undeveloped land, or farmland.
- Depending on the type of gift, you may enjoy tax savings, lifetime income payments, and the removal of the property from your taxable estate.
Who will be managing the funds?
The funds will be managed by the Catholic Community Foundation (CCF).
- CCF is a professional financial steward with investment resources and an expert investment manager who will ensure our endowment is invested in accordance with current laws and best practices.
- CCF is our partner who shares our faith and is committed to carefully investing and granting in alignment with the teachings of the Catholic Church.
- Visit the Catholic Community Foundation website at https://www.ccf-mn.org/
Should we support the General Fund or the Endowment Fund?
We hope you will consider supporting both the General Fund AND the Endowment Fund.
Pax Christi relies on the support of our members who support this community of faith through their annual gifts to Pax Christi as a stewardship response to how each household has been blessed. We hope that all members will participate in the Annual Stewardship Renewal, reviewing and renewing your commitment to sharing your household’s gifts with Pax Christi.. Through your ongoing stewardship, Pax Christi provides exceptional worship opportunities, faith formation programming for all ages, quality staff, a safe and welcoming building and grounds, outreach ministries and community.
Gifts to the Pax Christi Community Endowment Fund are “tomorrow” gifts, ones that will help us continue to serve the core values, mission, and ministries of Pax Christi – forever.
Gifts to the Endowment Fund are appreciated as an extraordinary opportunity, above and beyond your annual pledge of support.
Pax Christi has donated a portion of its money every year to justice causes. Will this endowment take the place of that?
Pax Christi’s first collection was donated in its entirety to justice causes, so right from its inception; this community determined that justice was a core value.
From its founding through today, Pax Christi has given over $4 million in 661 grants to over 200 organizations.
The Justice Grants awarded are a percentage of all the general fund gifts we receive each year, but over the last few years, our giving has remained fairly flat and we have not been able to increase the grant funding to our goal of a true tithe of 10%.
Pax Christi will continue to give from our first fruits. The proceeds from the Pax Christi Community Endowment Fund will augment the Justice Grants and allow us to grow our committed response.
How else can I/we support the Pax Christi Community Endowment Fund?
Pray for the Pax Christi Community Endowment Fund AND for our Justice Grant recipients that the gifts provided will help these organizations flourish.
Consider getting involved by sharing your time/talent with one of Pax Christi’s Justice Grant recipients. A major part of our goal is to build relationships with the organizations we support to break down barriers and meet challenges with interactive solutions in the greater community.
Consider lending your talents to serving on the Pax Christi Endowment Committee, the Financial Initiative Team (FIT), or the Justice Grants Board. You can find out more about these shared ministry opportunities on the “Serve Hub” - CLICK HERE
Who decides where the proceeds from the Endowment go?
Pax Christi has a Justice Grants Board, made up of active parishioners who serve three-year terms and work judiciously to solicit, vet, determine, and distribute the annual Justice Grants. We will be utilizing this existing board to care for the future proceeds from the Pax Christi Community Endowment Fund.
Can the parish or Archdiocese ever claim funds from the endowment?
No. A permanent endowment grows the principal of the fund and ensures the endowment can never be used in any way other than the purpose for which it was originally established.
What happens to the fund if Pax Christi were to close?
In the case of a church that closes or is merged with another faith community, the assets of the original community, including the endowment fund, go to the designated successor. The successor parish must use the endowment for the same purposes for which it was originally designated.