ST MICHAEL COMMUNITY EDUCATION

If investment results allow, the endowment fund makes an annual contribution to the st michael catholic school. Our by-laws read: up to 95% of investment income may be given annually. Beginning 2017 the board implemented a policy for a reserve fund for years of "down" markets - allowing a donation to the school, without dipping into principle dollars. Effective 8/2019 moved 96% of our funds into catholic united financial foundation, investing in ave maria mutual funds (funds vetted to align with catholic values). Effective 02/2024 the board changed giving/grant policy to equal 4% of our year-end cuff fund balance (to nearest 100).