Catholic Foundation of Utah marks banner year

Intermountain Catholic

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Bishop John C. Wester of the Diocese of Salt Lake City shows his gratitude for the work of generous donors and the Catholic Foundation of Utah, which, for the first year in its history, distributed 1,000,000 to designated beneficiaries. IC photo by Barbara S. Lee

SALT LAKE CITY — The Catholic Foundation of Utah (CFU) celebrated a remarkable landmark Nov. 6 at a reception at the bishop’s residence. Outgoing CFU President Pieter I. Scholte announced that the fiscal year ending July 30, 2007, saw Foundation investment returns reach a record high of 14.13 percent.

"This is the first year in the history of the Foundation that we have been able to distribute $1,000,000 to your designated beneficiaries," Scholte told dozens of donors and representatives of diocesan offices and programs which benefit from donations to the Foundation.

"Four years ago, with market ups and downs we were at $16,624,000," Scholte said. "The Foundation today is at a record high of $24,656,000."

Bishop John C. Wester credited the work of Foundation Executive Director Jennifer L. Carroll, Diocesan Finance Director Joan Loffredo, and their staffs, as well as generous donors who not only built on the endowments created by past donors, but established 17 new endowments in 1966 alone and 55 over the last two-and-one-half years.

Bishop Wester also recognized the work of the Foundation’s board of trustees, a committee of 15 people from throughout the diocese who advise the Foundation on investments and related issues.

"I want to give a big thank you, more in the spiritual context, for the Catholic Foundation of Utah, its executive committee, board of trustees, and its staff and donors," said the bishop. "Your giving today will provide for the future growth of the Diocese of Salt Lake City. The symbolism of your generosity is important, as you are seen as contributing members of the Catholic Church and of society at large."

Diocesan Vicar General Msgr. J. Terrence Fitzgerald, in a letter in the Foundation’s 2006 Annual Report, defined the CFU as helping the diocese "move from dependence upon outside support to self-sufficiency, provided by the generosity of the people of Utah."

Msgr. Fitzgerald described the four pillars established for the CFU: expansion of facilities and programs through the Bishop’s Future Fund; funding for Catholic schools and youth ministry through the Youth Ministry and Education Fund; education of men for the priesthood through the Seminarian and Priestly Formation Fund; and supporting our rural church communities through the Rural Church Development and Missionary Outreach fund.

Additional funds and endowments support nearly every other office and ministry within the diocese, including Mount Calvary Catholic Cemetery, the Intermountain Catholic, and 51 separate endowments for parishes.

"This is my last year as president," Scholte said. "In January, Scott Czaja will be your new board president, During the last four years I have been inspired by the commitment and dedication of our board of trustees and our CFU staff... Through them the needs of the Catholic Church and its growth in this state has been greatly enhanced... The board of trustees of the CFU and I give a heartfelt thank you for your commitment to the continued future growth of the Catholic Church in Utah. It’s through your efforts that we have been able to accomplish these tremendous results."

Bishop Wester said it is human nature for people to turn in to themselves, forgetting the larger world. "My good friend Father Gene Konkel says that takers eat well and givers sleep well. I see dozens of good examples of givers here. All of you are used to giving.

"I am reminded tonight of the great examples of giving we witnessed in Emery and Carbon Counties during the Crandall Canyon Mine disaster. There were rescuers who were injured, three making the ultimate sacrifice, losing their lives in hopes of finding six lost miners. These men knew the hazards of the work, but they wanted to give, and they paid the ultimate price."

The bishop also told the story of a Sacred Heart Sister who was a well-respected scientist. Diagnosed with early-onset Alzheimer’s disease, through prayer and contemplation, had come to the conclusion that God was taking everything from her, until in the end, all that was left in her life was God. "She made a conscious decision to gift back her life to God.

"Remember that everything we have is gift," Bishop Wester said. "Make that conscious decision to give everything back to God."