FROM THE FOUNDATION PRESIDENT & THE EXECUTIVE DIRECTOR

Ronald W. Johnson, President Dillon, Mont.

Rev. Mr. Gerald J. Kuhl Executive Director

The generosity that has provided the Foundation with endowed resources to help support the parishes, institutions, agencies and outreach programs and ministries of the Diocese of Helena is both inspiring and illustrative of deeply held Christian values associated with true gospel stewardship. The efforts of so many who are dedicated to the support of Catholic life and values within the Diocese of Helena is helping to shape and make for the sound fiscal footings upon which the future of God’s service to our Catholic population can be built.

During the 2005-2006 fiscal year (ending 6/30/06), FDH net assets grew by $191,729 from invested returns and new contributions, endowed for the benefit of our diocesan Church. (A point of clarification here with regard to the difference in this value as compared to the total of contributions reflected in the Table 3, “Schedule of Contributions” in this report. As shown in Table 3, the Foundation did receive $1,060,370 in total contributions during FY 2005-2006 but, because of the requirements of accounting policies used by non-profit organizations, we need to reflect the current grant obligations, as well as the re-classification of assets previously reported as “expectancies” that have now become a part of the Foundation’s “permanent endowments.” Also reflected in the net asset figure are the costs associated with the operational expense of the Foundation office. The total cost for all reported expenses was $812,125 — which include the disbursements made to parishes, diocesan programs and other charities supported by Foundation endowments during FY 2005-2006 (see Table 4, “FDH Disbursement to Parishes, Programs and Ministries of the Diocese of Helena during FY 2005-2006,” as well as a major grant promised to the Bishop to help fund the Diocesan Development Office.)

We are pleased to report that the balanced approach to portfolio allocation and risk management adopted by the Board of Trustees has proved a valuable formula for protecting the patrimony of the Church entrusted to the Foundation, while providing a positive return on invested assets during a difficult market environment. We are hopeful that the Foundation’s total Endowment Fund will grow to $10 million in the 2006-2007 fiscal year. As the work of the Foundation becomes increasingly significant to the welfare of the Church in the Diocese of Helena, the Board of Trustees will continue to emphasize the importance of good stewardship through planned giving in support of the parishes, institutions, agencies, outreach programs and ministries of our diocese.

I, as Foundation President, and Deacon Gerry Kuhl, as its Executive Director, treasure the dedicated support we receive from our trustees and professional staff, as well as from our bishop, the Most Reverend George L. Thomas, Ph.D., and the clergy, Chancery staff, lay leaders and volunteers. Most especially are we thankful for the many generous donors who believe in the mission and future of the Church and evidence that belief through ongoing contributions. Our ability to sustain the momentum of good works that your gifts engender can only grow because of such caring and continued support.

On behalf of Foundation Trustees and our professional staff, a sincere and most grateful “thank you” to all who have committed their time, talents and financial support – with a prayerful plea for your continued assistance so that, with today’s gifts, we can help provide for the future Church of our children, and theirs, until the end of time. We recognize with great faith, joy and satisfaction the helping hand of a loving God who guides our direction and accomplishments, both now and forever.

Ed.: Tables 3 and 4 are available by contacting the Foundation office at 442-5820.

Published in The Montana Catholic, Vol. 23, No. 3, March 23, 2007.