The St. Michael’s Endowment Fund, established in 1994, continues to grow and benefit our Parish. In 1998, the Joseph T. Watson and Melba C. Watson Endowment Fund was also established to aid Michael’s Parish. Today, the combined principals of these Funds are over $1,000,000, negative earnings’ reductions notwithstanding. The purpose of these funds is to provide monetary support for the operation of the mission and ministries of the St. Michael’s Parish, including the parish grade school, religious education programs, and other educational endeavors of the Parish.
The fund is monitored by the pastor, with the assistance of the Endowment Committee. The committee has nine members, appointed by the pastor to serve three-year terms.
The fund itself, while a separate account, is part the St. Louis Archdiocesan Fund and is administered by its trustees. As with any endowment fund, the principal cannot be touched, but any amounts earned by the principal can be distributed to the Parish twice annually. No disbursements can be made, however, during any period when the Fund has or is impacted by negative earnings. The Parish has enjoyed significant financial assistance from the Fund in the past several years, and several projects, including improvements to the school building and on Parish grounds, have been financed with the Funds’ earnings. Contributions, including direct monetary donations, stock, planned gifts, and memorials, are always welcome and can be sent or delivered to the Rectory.