An endowment is an account in which donations are given with the intent to preserve the original value of the gift and to grow it over time. The funds are held in perpetuity and invested with the principal asset base remaining intact and grows through sound investment and additional gifts. The accumulated appreciation and income on the investment is used to fund an annual income distribution. Through this dedicated stream of income, an endowment gift can ensure the stability of the programs and the long-term financial viability of the endowed organization. When you make a gift to an endowment you create a permanent legacy of support that will make a lasting impact.
An endowment works with contributions invested for perpetuity. Only the earnings are used to support the mission of the Catholic Community of St. Odilia beyond what we can do with our current operating budget.
The St. Odilia Parish and School Endowments support one or more of the following ministries:
In 1987, St. Odilia Parish established an endowment fund to support and enhance the mission and ministries of both the parish and the school. In 2019, with contributions designated specifically to the school from the original endowment, the School Endowment Fund was established.
The Parish and School Endowment Funds are managed by the Catholic Community Foundation of Minnesota (CCF). CCF ensures the endowments are invested in accordance with current laws and best practices.
Make checks payable to St. Odilia Church or School and include a note about your gift’s purpose in the memo space (ex: payable to Church, St. Odilia Church – Parish Endowment, Sunday Fund, etc. in memo space).
If mailing via USPS:
Catholic Community of St. Odilia
Attention: Finance Manager
3495 North Victoria Street
Shoreview, MN 55126
Give Online – Make an immediate impact by using your bank account or credit card by visiting www.osvhub.com/stodilia/funds. You have the option to make a one-time or recurring gift online. If the area you wish to donate to is not listed call 651-415-3350.
St. Odilia welcomes all stock and mutual fund transfers which can be used to fulfill annual stewardship pledges, gifts to St. Odilia School and School scholarship funds, gifts to parish outreach, or be used to support our Parish and/or School Endowment Funds.
Giving stock held for more than one year offers a two-fold tax savings. Donations of appreciated stock or mutual funds held for more than one year can reduce or even eliminate federal capital gains taxes on the transfer. Donors are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
Transfer Instructions:
Donation to Church of St. Odilia
Charles Schwab & Co. Inc.
Acct#: 3299-2489
DTC#: 0164, Code 40
Tax ID: 41-0837655
When the request to a broker is completed, please provide the following information to Megan Duevel, Finance Manager at 651-415-3341, so we may properly credit the contributor:
If you have additional questions regarding gifts of stock or securities, contact Ramona Michaels, St. Odilia Development Coordinator at [email protected] or 651-415-3350.
A donor-advised fund is an excellent way to both simplify your charitable giving and facilitate your philanthropic goals. A DAF operates like a charitable checking account that allows the donor to recommend a gift (grant) to their charity of choice. You may even be able to set up a monthly gift from your DAF.
To set up a Donor Advised Fund consult your financial advisor or ask your current Donor Advised Fund administrator for information on how to make a grant to the Catholic Community of St. Odilia.
The IRA charitable rollover offers multiple benefits for making gifts from your traditional or Roth IRA. To qualify you must be:
Also known as a Qualified Charitable Distribution (QCD), this gift option provides a tax benefit when donations are made directly from your IRA to St. Odilia. It may be used to satisfy your RMD for the tax year. Your gift can potentially reduce annual income level, Medicare premiums, and amount of Social Security subject to tax.
Contact your financial advisor to learn if a QCD is appropriate for you.
Note: Some financial institutions do not include donor names with IRA gifts. Please contact Gail Foote, Parish Finance Manager at 651-415-3341 or [email protected] to let us know that you have made an IRA donation and to what ministry you would like to designate it.
Each corporation has its own policy regarding minimum and maximum amounts for matching gifts and other eligibility requirements. To find out if your employer has a matching gift program, please contact your Human Resources Department. Many employers allow you to submit your gift online and it takes just a few minutes to double or even triple your gift! Some companies continue to match charitable gifts from retired employees. Do not miss the opportunity to double your gift!
Many employers have employee-giving programs that deduct an amount you designate from each check to go to nonprofit 501(c)(3) organizations; they may even match gifts made in this way. Simply ask your human resources department to automatically deduct funds from your paycheck on a one-time basis or recurring each pay period. Ask your Human Resources specialist if your company has one of these plans.
Making a gift to St. Odilia can be a powerful way to honor a loved one or to celebrate a special occasion.
Make a Memorial or Tribute Gift to:
One of the simplest ways to support St. Odilia is to name us as a beneficiary. You can specify what ministry area you would like to support as well as the percentage of the assets you want the beneficiary to receive. Its’ literally as easy as filling out a form. You may name St. Odilia as a beneficiary for assets such as:
To name the St. Odilia Church, St. Odilia School, St. Odilia Parish Endowment or St. Odilia School Endowment as a beneficiary, complete the appropriate forms or contact your financial advisor for guidance.
A Charitable Gift Annuity (CGA) is a simple, tax-effective gift that provides fixed payments for life in exchange for a gift of cash or securities. When your gift annuity ends, its remaining principal passes to St. Odilia.
A charitable gift annuity could be right for you if:
A bequest in a will or living trust is an excellent way to provide for St. Odilia while retaining assets during your lifetime. You may leave a percentage or set amount of your overall estate, or specific assets like financial securities.
Samples of bequest language:
"I hereby bequeath to St. Odilia School in St. Paul, MN, the sum of $____ (or ____%) of my estate.”
"I hereby give, devise, and bequeath to Church of St. Odilia (other options include St. Odilia School, St. Odilia Parish Endowment Fund, St. Odilia School Endowment Fund), Taxpayer Identification #
41-0837655, [INSERT AMOUNT OR PERCENT OF ESTATE] to be used to further the mission of St. Odilia."
A gift to St. Odilia in your will or trust gives you maximum flexibility