More than 18 years ago, 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. Investment income from the endowment continues to provide important annual financial support for Catholic school students, seminarians, students preparing for lay ministry, retired priests and others.
Concluding in 1995, Stewards for Tomorrow was a great success. Parishioners contributed more than $84.5 million. Through the campaign formula, parishes retained $19.3 million of that total, and the archdiocesan endowment fund was created with $65.2 million in campaign gifts.
As of June 30, 2010, the foundation distributed more than $55 million for 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, supplementary income for retired priests, and support for seminarians and other Catholic organizations. As of June 2010, the endowment had a total asset value of $71.4 million, of which $19.6 million is in parish endowment accounts.
Stewards for Tomorrow and the endowment are among the brightest chapters in our 300-year archdiocesan history, and serve as recent examples of sound planning and good stewardship. Catholics throughout southeast Michigan continue to benefit from the foresight, generosity and professional management that made possible these uplifting results. I encourage you to read with pride about the outcomes of this legacy of giving.
Sincerely yours in Christ,
The Most Reverend Allen H. Vigneron
Archbishop of Detroit