CEMF Owatonna
Check Our CausesPurpose
– Support Educational Efforts of St. Mary’s School in Owatonna, MN
– Promote, Support, and Further Catholic Education in Owatonna. Including the Religious Education Program (REP)
– To prudently invest monies within this fund.
– Promote growth of the fund by solicitation of additional gifts, bequests, and memorials
– Preserve the funds assets
CEMF
Created in response to a need. In 1974, a family willed a large sum of money to St. Mary’s School.
This Money was directed by the will, to be invested in an income-producing manner, with the proceeds to be used to further Catholic Education.
To handle this situation and to provide a vehicle for similar contributions, the Catholic community created the Catholic Educational Memorial Foundation in March of 1974.
Policies
– Cooperate with St. Mary’s school for it’s improvements.
– To cooperate with and support the Relgious Education Program (REP) in Owatonna, MN
– To maintain a policy of non-interference with the administration of St. Mary’s School.
– To refrain from seeking to control the policies of St. Mary’s School.
How does CEMF Work?
The board of directors administers the CEMF. The board is responsible for managing the investments of the funds, determining how the proceeds should be invested each year, which Catholic Education Programs to support, and how much to donate to them. The principal in the fund will be preserved, because the fund is only distributed at 4% each year.
Who is on the CEMF Board?
The Board of Directors of CEMF is made up of 6 people:
- Two Members are from Sacred Heart Parish
- Two Members are from St. Joseph’s Parish
- One member is from St. Mary’s School Advisory Board
- One Member liaison to the Religious Education Program (REP)
- In addition, professional accounting and investment services advice the board
Quotes from our Primary Benefactors
Helping students and families to form themselves in the faith would not be possible without the help of CEMF. We are able to help form our Catechists, students and parents by providing a variety of quality resources to help build our Church. We are so grateful to receive funding from CEMF to help shape and form all Catholics for the future.
Brittany Boubin
Director of Faith Formation
Providing a quality Catholic Education on a limited budget is very challenging. We are grateful to CEMF for providing us with funds yearly that help off-set our costs of education. CEMF along with other streams of revenue help us to keep tuition attainable for our families. We are blessed to be a beneficiary of CEMF.
Jen Swanson
Principal St. Mary's School