PORTLAND, Maine — The Catholic Foundation of Maine (CFM) has announced that available distributions from its endowment funds will exceed $1 million for the first time.
The endowment funds benefit churches, parish programs, schools, tuition assistance, social justice outreach initiatives, vocations, and many other ministries across Maine. Anyone may give to the endowments, and new endowments can be opened throughout the year.
CFM was established in 2003 to provide people with the opportunity to support and create lasting endowments that will enhance the work of the Catholic Church in Maine. The foundation manages the funds to ensure the long-term viability of the endowments so that the charitable wishes of the donors are carried out.
“Distributions from the endowments are making a real difference in many lives. The founders of new endowments and those who have made significant gifts to them are looking to the future while demonstrating their faith and generosity in the present,” said Elizabeth Badger, executive director of CFM.
Some of the newly-established funds this year include the Brother Irénée Richard, OP, Endowment for the new St. Catherine of Siena Residence for Women and the St. Martin de Porres Residence for Men in Lewiston, and the Hanna Powell Endowment for the Arts at St. Thomas School in Sanford. Funds have also been established to benefit St. Paul the Apostle Parish in Bangor and St. Michael School in Augusta.
“So many people are filled with desire to help ministries they are connected to,” said Badger. “Seeing those hopes become realities through endowments is fulfilling and inspiring.”
To create an endowment with the Catholic Foundation of Maine or to contribute to an existing one, contact Elizabeth Badger at (207) 321-7820 or elizabeth.badger@portlanddiocese.org. For more information, visit the foundation’s website at www.catholicfoundationmaine.org.
