Find out how endowments can provide for the most basic necessities of our missionaries
Paulette, Louise and Cecile gave their Mom a special Christmas gift a couple of years ago. Having known the work of our missionaries and their good works, they funded an endowment with Catholic Missions In Canada in her name.
What a wonderful testament to their Mom’s faith and to their Catholic family values. Their endowment is also a special gift to our missions and will be for long into the future. It provides an ongoing annual gift for the most basic necessities of our missionaries to help keep them going—food, electricity, heat, transportation. It also enables them to share the love of Christ with both the young and old in our mission communities across Canada. So their endowment is a gift that keeps giving. Their Mom, I think, would have been very pleased with her Christmas gift that year.
The longevity of an endowment is exactly what attracts many of our donors to this means of supporting Catholic Missions In Canada.
They like the idea that the principal of their endowment gift will stay invested while the interest earned will just keep coming year after year after year to assist our missionaries keep the Word of God alive in the missions. They realize that someday they will be gone and their outright annual or monthly gifts will no longer be available to support our mission needs, but through an endowment they can keep making their annual gifts.
Some endowment donors, such as the three sisters mentioned, like the idea of an endowment to honour a loved one or a person they hold dear. Other thoughtful donors establish an endowment in their own name as a testament to their Catholic faith and as a means to share their faith with those people living in our Northern missions.
Endowments can also draw other family members into supporting Catholic Missions. Bill and Molly Callaghan, former CMIC missionaries, established an endowment in their family names, and in subsequent years, their children, grandchildren, and even their siblings have added to their “family” endowment. We call it “the little engine that could.” It just keeps growing and growing.
An endowment can be created during your life, or at death through a gift in your will. Endowments can be established with a single gift or over five years with repeated gifts. Others have started their endowments now and plan to add to it later through a gift in their will. You can fund your endowment through a gift of cash or publicly- listed securities.
You can also direct the proceeds from your Registered Retirement Savings Plans (RRSP), Registered Retirement Income Fund (RRIF), or Tax-Free Savings Accounts (TFSAs) to create or add to your endowment. Yes, there are so many ways to give.
Please take a moment to fill out the Gift Planning Information Request Form to let us know how we can assist you.
You can contact Elvira Foronda, our Charitable Gift Planning Manager at:
Phone: 416-934-3424 ext 229