SFX Endowments
St. Francis Xavier has TWO endowments - one for the parish elementary school, and one for the parish in general. Thanks to the steadfast support of parishioners and other compassionate donors, our two endowments have steadily increased since their inception in 1999. Through capital gains, dividends, and additional contributions, they have steadily grown to provide a strong foundation for the years ahead.
In 2024, the Educational Endowment, dedicated specifically to maintain a quality Catholic elementary school as part of our mission, reached an extraordinary milestone – $1 million! The attainment of this benchmark enables the school to provide regular distributions to support vital school initiatives.
The purpose of the Education Endowment is to uphold, invest in, and enhance the educational ministries of our elementary school, and to ensure that generations to come will have access to a quality Catholic education. Beginning in 2024, we began to utilize the earnings to enhance the education of our current students and those to come. Needs - based tuition assistance is one of the major uses of this fund.
The purpose of the Parish Endowment is to uphold the ministerial needs of St. Francis Xavier Parish and to finance the upkeep, maintenance and improvement of its property and facilities. This endowment has given the parish flexibility when assessing financing options for major capital projects.
FAQ:
1) What is the fund balance in these endowments? Our Annual Report contains the balance of both at the end of the last fiscal year.
2) How would I name one of these endowments in my estate planning? Please complete the planned giving form to notify us of your intention. Our business office will then contact you to see how we might be able to assist you. THANK YOU!
3) How is the endowment invested? The funds are invested in a well-diversified portfolio which includes equities and fixed income. Decisions are made by the Investment Committee of the Archdiocese of Chicago’s Finance Council. All Committee members are investment professionals. Northern Trust Bank serves as custodian and provides monthly reports directly to St. Francis Xavier Parish of its portion. The Archdiocese of Chicago's Finance Department oversees the administration of these funds. The SFX Finance Council also reviews the returns on these endowments on an annual basis.
4) How can I get more information? Please contact Jennifer Zeisloft, Director of Stewardship and Development, for any questions including how you can give!