More Than $1 Million to Date in 2024 to Support Catholic Causes in Eastern Pennsylvania
The Catholic Foundation of Eastern Pennsylvania has announced a significant milestone in its declared distributions to support Catholic causes throughout the region. The Catholic Foundation declared more than $836,000 from qualified endowment funds. In addition, donor designated funds and cemetery funds requested $170,000 in distributions for a combined total of more than $1 million in 2024 to date.
Since it began declaring distributions in 2016, the Catholic Foundation’s total amount of distributions from its endowment funds have exceeded $3.4 million.
“The endowments are doing what they were created to do — provide needed support to the beneficiary parishes, schools, ministries and cemeteries in our Diocese,” Pete Waldron, President of the Catholic Foundation, said.
“As endowment funds grow, so do the declared distributions to our beneficiaries of parishes, schools, and ministries,” Waldron said.
Remarkable Growth in Distributions
The Catholic Foundation has come along since its inaugural year of offering distributions in 2016. At that time there was only one fund with a 5 percent of $28,000.
“The foundation’s role in helping our partners market and grow their funds has a direct impact on the availability of funds to support their faith-based missions,” Waldron said.
Supporting a Variety of Catholic Causes
The distributions in 2024 have supported a diverse range of needs within the Catholic community, including:
- Scholarships for elementary and high school students attending Catholic schools.
- Social service programs provided by Catholic Charities.
- Education and formation of seminarians.
- Renovations of church interiors.
- Graduation academic awards for 8th and 12th-grade students.
- College scholarships for parish students.
- Annual stipends for Teacher Excellence programs.
Generosity Fuels Growth
During the past seven years, Waldron has observed a heartening trend of generosity among donors who are passionate about supporting their favorite Catholic causes.
“Donors are witnessing the positive impact that endowment funds are having on the Catholic community,” Waldron said. “They are contributing new gifts to build them up.”
Endowment funds play a vital role in providing consistent financial support to Catholic parishes, schools, and ministries when needed. Donors appreciate the longevity of their gifts, knowing that their contributions to an endowment—whether made now or as a planned gift—will continue to support their chosen causes indefinitely.
“People find comfort in knowing that their gifts to an endowment essentially live forever and will be there to support their parish, school, or ministry when it needs it most,” Waldron said.
The Catholic Foundation of Eastern Pennsylvania continues to make a lasting impact on the community by fostering generosity and supporting the vital work of Catholic institutions across the region.
