By Sr. Laura Goedken, OP
When the Catholic Foundation for the Diocese of Davenport was incorporated in the State of Iowa as a not-for-profit corporation in 2009, seven funds were established. These are the funds used in the capital campaign of 2009-10. These funds are listed here.
• The Diocesan Operations Fund supports the annual operating expenses of the diocese.
• The Seminary Education and Vocations Fund supports the education of our seminarians and the marketing efforts of the Office of Vocations.
• The Healthcare Fund for Priests unable to minister assists those priests in times of greater need than what the health care policy provides.
• The Deacon Formation Fund provides training and education for those preparing for deacon ordination.
• The Social Action and Catholic Charities Fund provides direct service to meet immediate needs of people and promotes institutional change to solve long-term needs.
• The Faith Formation Fund provides support and guidance to leaders in parishes and schools.
• The Catholic Schools Fund provides income to each of the Catholic schools in the diocese on a student per capita basis and the local school board makes the decision on how these funds are used.
The foundation’s spending policy is to distribute 4 percent of the financial assets of the average of 12 rolling quarters. Funds are distributed each July at the end of the fiscal year.
Anyone may add to any of these funds at any time with a donation or by naming one of these funds in your estate plans. Additional funds may also be established. Contact Diocesan Development Director Sister Laura Goedken, OP at (563) 888-4252 or goedken@davenportdiocese.org for more information.
(Sr. Goedken is director of development for the Diocese of Davenport.)
