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The
purpose of this School Endowment Fund shall be solely to
perpetuate, partially support, and uphold the education work of
Immaculate Conception School. Any conditions imposed by
the five trustees, plus the pastor and principal, of this fund
upon its interest or income shall be in conformity with this
basic purpose for the school.
The
principal assets of the fund will be deposited either in the
Catholic Foundation of the Diocese of Toledo, Inc. or elsewhere
as they deem appropriate. The majority of the assets of
this fund are not invested with the Diocese. The trustees
shall design and implement ways to seek contributions to this
fund. They determine where to invest the assets, and they
monitor the progress of the fund. They do not designate
who the school/parish will use the interest unless donor(s) have
restricted the use. If the trustees should find it
necessary to alter the use of the interest of the fund, invade
the principal assets of the fund, or extinguish this fund, a
unanimous decision of the trustees is mandatory, accompanied by
the written permission of Bishop before such action may take
place. The trustees (parishioners) meet quarterly, review
investments, allocate distributions according to corpus and
cushion guidelines, and re-invest and seek additional funds to
the corpus.
Staff
Contact: Father John Missler at (419) 734-4004
Contact Person:
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