The Catholic Foundation of Eastern Pennsylvania held its 2024 State of the Foundation meeting with a renewed focus on transformation and strategic growth. Hosted at three different locations across the region: St. Mary Parish in Kutztown, Nativity High School in Pottsville, and St. Thomas More Parish in Allentown, this year’s event brought together stakeholders from parishes, schools, and ministries to celebrate the Foundation’s achievements and outline its bold vision for the future.
In his opening remarks, Pete Waldron, the Foundation’s President, emphasized the growing impact of the organization in its decade of service.
“Today, and every day, we are evangelists,” Waldron said. “We are spreading the word on how endowment funds are already impacting the future of Catholic causes in our five-county region.”
Waldron noted that this year’s gathering comes on the heels of the Foundation’s 10th anniversary, marking a significant milestone with almost $50 million in assets under management, 112 partnerships with 145 endowment funds.
The Foundation’s mission remains unchanged: to create lasting endowment funds that provide ongoing financial support to Catholic parishes, schools, and ministries. “We are more determined than ever before,” Waldron said, reflecting on the Foundation’s success and promising a strategic focus on continued growth.
Strategic Roadmap for the Next Three Years
One of the key moments of the evening came when Paul Huck, Chairman of the Foundation’s Board of Directors, took the stage to present the organization’s strategic plan for the 2024-2027 fiscal years. Developed with input from board members, partners, and Catholic leaders, the plan aims to strengthen relationships with partners and encourage sustainable giving practices.
“Our mission is no longer just a dream,” Huck said. “We’ve built a robust financial foundation, and now it’s time to help our Catholic institutions grow even further.”
The strategic roadmap includes initiatives for the Catholic Foundation to become a self-funding nonprofit entity with an improved board and organizational structure to support continued growth and succession. Huck said that the Catholic Foundation wants to strengthen its partner and donor relations by resetting its Partner Program, and to enhance its product offerings with tailored support for parishes and schools to grow their endowment funds through new marketing strategies and planned giving efforts.
The Foundation’s approach is comprehensive. It provides partners with the tools they need—microsites, estate planning workshops, targeted donor outreach—to ensure that endowment funds continue to grow and support Catholic causes for generations to come. One standout concept introduced was the “Five Steps to Forever,” which helps organizations design long-term fundraising plans centered around endowment growth led by influential volunteer Forever Committees at each parish and school.
Huck reassured attendees that one of the most important responsibilities of the Catholic Foundation was to skillfully manage a solid investment program for its partners. Brad Stephan, Managing Director for The Concord Advisory Group, presented an Investment Overview of the Catholic Foundation’s portfolio.
Stephan reported that the trailing net performance as of September 30, 2024 for the CFEP Long-Term fund was 26.25%. The CFEP Intermediate-Term fund, which covers a shorter time horizon (1 to 5 years) and is weighted with more fixed income solutions, was 15.96%.
The 3-and-5-year trailing net performance for the Long-Term fund was 4.74% and 8.54%, respectively, and 7.53% since its inception more than nine years ago. The 3-year trailing performance for the Intermediate-Term fund was 3.14% and 5% since its inception four years ago.
“The Catholic Foundation’s portfolio experienced tremendous growth during the past year,” Stephan said. “Institutional-quality short-and-long term investment solutions rooted in Catholic values coupled with the Catholic Foundation’s robust governance structure, dynamic oversight and reporting processes, and punctuated by a better-than-expected market – led to this success.”
New Staffing and Programs to Support Growth
Recognizing that achieving these ambitious goals requires dedicated resources, Waldron announced several key staffing updates. Tony Luna, who joined the team in August as the Director of Philanthropy, will focus on major gifts and planned giving efforts. Lisa Geosits, Director of Donor Relations, will expand her role in training volunteers to form “Forever Committees,” small groups that will help drive local engagement with endowment fundraising.
The Foundation also plans to expand its Professional Advisors Planned Giving Committee, a group of estate planning attorneys, financial advisors, and accountants who will work across all five counties in the region. By partnering with these experts, the Foundation hopes to create greater awareness of planned giving opportunities within the Catholic community.
Celebrating Donor-Led Endowment Funds
The meeting also highlighted the Foundation’s success in establishing family-led endowment funds. Waldron cited examples like the recently created Robert & Cynthia O’Hara Family Fund, which supports six Catholic organizations, and the Scalici Family Endowment Fund, which benefits St. John Vianney Regional School, Mercy School for Special Learning, and Catholic Charities.
These funds represent a growing trend among donors to endow their annual giving. Through the Catholic Foundation’s annual distribution process, Family funds provide annual gifts to the donor’s selected Catholic organizations and then ensure that a donor’s charitable giving continues to support their favorite causes long after they are gone.
“It’s like the donor is sending their weekly envelope or annual gift down from heaven,” Waldron said, noting the powerful legacy these funds create.
Looking Ahead
The Catholic Foundation has its sights set on transformational growth. With a focus on expanding partnerships, developing new programs, and fostering a culture of giving, the Foundation is poised to help Catholic causes thrive for generations.
As the meeting concluded, Waldron urged attendees to think big and transformational.
“We believe the Catholic Foundation is truly a game changer for Catholic philanthropy in our region,” he said. “Together, we can ensure our Catholic causes are here forever.”
Looking Ahead with Hope
The State of the Foundation Meetings were a reminder of the strength and generosity of our Catholic community. As we continue to build on this foundation, we remain committed to ensuring that the resources entrusted to us are used wisely and effectively to support the Catholic causes that matter most to you.
Thank you to all who attended and contributed to this year’s discussions. Together, we are building a brighter future for our favorite Catholic causes.
For more information about the Catholic Foundation of Eastern PA or to learn how you can get involved, please contact us today.