CTK ENDOWMENT

ENDOWMENT UPDATE (9/30/06)

We have just received confirmation from Union Bank of California the CTK Endowment for Education Fund officially reached a value of $500,808.78 as of 8/31/06. We have, therefore (assuming the market hasn't shifted dramatically in the past few weeks) hit the 1/2 million mark. All this started when a relative of a graduating 8th grader handed Fr. Richard Rossman a check for $5,000 in June 1988!

Highlights over the past few years include:

• Initiating an endowment campaign 6/1/04 which brought in three-year pledges of $43,820.00.
• Continuing gifts to the endowment, plus others contributing memorial gifts using the Endowment envelopes available in the back of the church;
• Ongoing annual scrip revenues (50% of sales) continue to add to our endowment deposits and have resulted in fund deposits of $52,369.21 since program inception in 1993. The $10,000 loan made to HSA from the Endowment to fund initial scrip inventory was repaid in full June, 2006, giving our Endowment an added push before fiscal year end.
• Annual success in meeting the annual Joseph E. Weston Public Foundation Endowment Matching Challenge Grant, adding a total of $40,000 to our fund since the challenge was initiated in 2000 (this includes the 2006 match which will be deposited in Jan, 2007).

Moving forward, our objective is to continue encouraging and educating parishioners and friends to leave a gift to the school in their will. Special thanks to Greg Oliveros and John Matlock for their recent sponsorship of three new brochures entitled "Ways to Give," "Planning Your Will" and "Life Insurance: A Flexible Asset." These informational pieces are free and available at the church, school and parish office. Ongoing seminars on Planned Giving will be sponsored annually through the parish Adult Catholic Education (ACE) lecture series; our next session will be held after the first of the new year.

On behalf of current and future students of CTK, I thank each of you for your help and encouragement in attaining this major financial milestone. Now, on to the next $500,000 with the ultimate $1 million mark in sight!

Blessings,

Kellee Harris
Development Director

ENDOWMENT HISTORY & PERSPECTIVE

Background:

The CTK Endowment for Education Fund was founded in February 1988 for the purposes of helping keep school tuition affordable and stabilizing operating costs though a permanent income source.

Initiated by pastor Fr. Richard Rossman though a $5,000 gift from the relative of a graduating student, the fund has increased annually through private donations and bequests from area parishioners and community members, as well as though sales of retail scrip (Good As Gold Program) by school and parish volunteers. Once the endowment principal reaches $1 million, it is the intent of the CTK Endowment for Education Fund to provide a minimum of 5% in annual endowment income to offset annual school operating budget expenses. In 2003, Christ the King has received nearly $20,000 in endowment contributions, with the fund currently valued at over $360,000.

Why Give to the Endowment for Education Fund?

A gift to the endowment is a gift that keeps on giving. The principal is never spent, with only the endowment income used for educational expenses. As one of our own parishioners and long-time contributors to the CTK endowment recently reflected, "I started giving to the endowment because I felt if I could help just one child obtain a Catholic school education, then my contribution could make a difference. As a child myself, I was blessed to be surrounded by a faith community of family, friends and teachers at my Catholic school, and I cannot imagine going through life without the gift of faith."