Page 10 - Spring 2019 Extension Magazine

10 BUILD

News Briefs

HIGHLIGHTS

Charitable Gift
Annuities
Catholic Extension’s
Charitable Gift Annuity
program received $2
million in annuity
contracts in 2018
after the first increase
in payout rates in 10
years. Each annuity
holder is guaranteed
payments for the rest of
their life in addition to
substantial tax benefits.
The annuity holder also
knows that their gift will
ultimately assist under-
resourced, Catholic faith A new church after Katrina
communities.
In the Diocese of Biloxi, Mississippi, St. Peter the Apostle
Mission Diocese Fund
Through its Mission Church was dedicated on March 3, replacing the old church that
Diocese Fund, LLC, was destroyed in Hurricane Katrina in 2005. The parish in Pasca-
Catholic Extension
provides all goula is home to 235 African American families. They have been
mission dioceses
the opportunity to holding Mass in the Parish Life Center that was also destroyed in
collectively invest the hurricane and rebuilt in 2008. The new church is designed
their long-term assets.
Currently 57 dioceses like its original 1907 church.
are participating. This The pastor, Father Joseph Benjamin, belongs to the Society of
initiative provides access
to world-class managers St. Joseph of the Sacred Hearts, the Josephites, a religious order
that are typically only
available to large, committed to serving African American communities.
institutional investors Catholic Extension has supported the parish since 1992 for
and has delivered
consistent returns above roof repairs and religious education, but dramatically stepped
the portfolio benchmark.
up funding starting in 2006, totaling nearly $200,000, to help
rebuild the church.