In early January of 2024, the Catholic Diocese of Madison Foundation (CDMF) will release its annual report.
This report highlights the CDMF’s accomplishments over the past fiscal year.
We are thrilled to be able to share with readers of the Catholic Herald the good work being done here at the CDMF and the positive impacts being made all across the diocese for Catholic parishes, schools, and ministries.
About the CDMF
You may be wondering, what is the CDMF?
We are a non-profit, charitable organization that receives, manages, and distributes funds to provide perpetual funding for Catholic schools, parishes, and ministries within the Diocese of Madison.
These organizations, along with faithful individuals of the diocese, collaborate with us to strengthen the future of our Universal Church.
Supporting the future
We currently have 48 funds that support the future of the Catholic community here in the Diocese of Madison.
The use of these funds varies and can range anywhere from helping a parish pave a new parking lot, to providing tuition assistance to students attending Catholic grade schools, to helping support the operations of a clinic that helps with the medical needs of the poor.
As of June 30 2023, the CDMF has over $66 million in assets under management and this year we distributed nearly $3 million for the purpose of supporting our fund holders and their causes.
Endowment funds are the heart of the CDMF. An endowment is an invested fund that uses the resulting investment income to provide perpetual support for a specific purpose.
When an initial gift of $25,000 or more is “endowed,” it is invested for long-term capital growth, with the beneficiary receiving a percent distribution each year. As the fund grows, so does the amount available for disbursement.
Endowments provide powerful advantages for any organization’s financial future. The initial gift, which may have made an outright impact over three or four years, now has the power to give back in perpetuity.
The endowed fund provides predictable income in the form of distributions each year while growing the initial investment for future needs.
For example, this past year 15 of our Catholic schools were given tuition assistance grants from the CDMF’s St. John Bosco Endowment Fund.
This allowed many students to attend a Catholic school when they would not otherwise have been able to do so.
Another fund, the Heart of Mercy Endowment, allowed the Diocese of Madison to grant significant support to dozens of ministries across our diocese, including those that help the homeless and those struggling with substance abuse; crisis pregnancy support and pro-life efforts; and others who are vulnerable.
It should be noted that the CDMF is legally separate from the Diocese of Madison, governed by an independent Board of Directors, with Bishop Donald J. Hying of Madison as the chair.
The CDMF board is comprised of clergy and lay experts in their fields representing diverse professional experiences and different regions of the diocese.
US Bank professionally manages the funds in the CDMF, with oversight provided through specialized CDMF committees and the board overall.
Growth and legacy
The CDMF has grown rapidly over the past decade and we expect continued growth as awareness builds and the word gets out about the impactful work being done and the many benefits the CDMF provides throughout the Diocese of Madison.
Many generous benefactors have decided to leave a legacy with the CDMF, extending the impact of their gifts and their Catholic faith in perpetuity.
Establishing a fund is easier than you think as the CDMF strives to make the process simple and straightforward.
Both endowed and non-endowed funds allow donors to name their fund, define the purpose, and outline its intended uses. Many individuals give in support of their parish, school, or another Catholic ministry that has played an important part in their faith and their life.
We invite you to consider starting a fund — a gift that keeps on giving.
We also invite you to visit our website diocesemadisonfoundation.org to learn more about the CDMF, our existing funds, and to consider making a donation to a cause that is most meaningful to you.
Grant McGurn is the operations coordinator for the Catholic Diocese of Madison Foundation.