Any person or organization can start a fund, endowment or scholarship with the St. Sebastian Parish Foundation.
A fund, endowment or scholarship within the St. Sebastian Parish Foundation can help build a more secure financial future for the projects that are important to you and allow you to leave a named legacy with the parish.
How to Get Started
To begin, determine your charitable priority. Whether it is supporting the school or church, creating a scholarship, or providing funding for a specific project, you decide. Please feel free to contact the Foundation’s Director of Development (see contact information below) if you would like to discuss the parish’s current needs or for other assistance in determining the nature of your donation.
Then determine if you would like to create a fund or endowment. Briefly, funds are for short term projects, and the account can be spent to zero. Endowments are generally for longer-term projects, since only an established percentage in the account can be disbursed every year. Scholarships can be established as either a fund or an endowment. Again, the Director of Development can provide guidance on choosing a fund or an endowment.
Finally, start your fund or endowment by making a gift to the St. Sebastian Parish Foundation of any dollar amount. For endowments, once the minimum balance has been met (which can be done over several years), the endowment will begin disbursing 4% of the balance each year to sponsor your legacy. In 2019, the minimum balance required for an endowment to begin disbursement was $7,500.
If you have any questions or wish to start your own named fund or endowment, please contact the Director of Development at 330-836-2233 x 113 or firstname.lastname@example.org. Thank you for your consideration.