In the early 1990s, parishioners throughout the Archdiocese of Detroit responded to a call to create an income-producing, perpetual endowment for the Archdiocese. Launched in 1993, the Stewards for Tomorrow fundraising campaign established the Archdiocese of Detroit Endowment Foundation, in 1994. The campaign concluded in 1995 as a great success, with parishioners generously contributing more than $84.4 million.
Through the campaign formula, parishes retained $19.3 million of that total and the Archdiocese of Detroit Endowment Foundation was created with $65.2 million in campaign gifts. Investment income from this Endowment continues to provide important annual financial support for Catholic school students, seminarians, students preparing for lay ministry, youth and family ministry education, and others.
As of June 30, 2019, the Endowment distributed more than $78 million for a variety of purposes, including: thousands of tuition assistance grants to Catholic K-12 school students; support to Sacred Heart Major Seminary; financial aid for the education of catechetical instructors; youth and family ministry; and support for seminarians and other Catholic organizations. As of June 2019, the Endowment had a total asset value of $153.2 million, of which $68.7 million is in parish and school endowment accounts.
Thanks to God’s abundant goodness and the vision of many, the Archdiocese of Detroit Endowment Foundation achieved a milestone in October 2019, reaching 25 years. Stewards for Tomorrow and the resulting Endowment are among the brightest chapters in our 300-year archdiocesan history, serving as examples of sound planning and good stewardship. Catholics throughout southeast Michigan continue to benefit from the foresight, generosity and professional management that made possible this uplifting legacy of giving. The Detroit Catholic chronicles this milestone here.
Frequently Asked Questions
Has the Archdiocese ever tapped the endowment to support the Pope John Paul II Cultural Center in Washington, D.C., the former St. John's Seminary, to pay for lawsuits, or for any purposes other than those for which those funds were established?