Who We AreSaint Mary of the Assumption Foundation
The Saint Mary of the Assumption Foundation, in continuing the work of the Lord, seeks to support the present and future needs of Saint Mary of the Assumption by growing and responsibly using the generous gifts of persons for the church, school and cemetery.
Our Investment Vision
The Foundation Board maintains the Foundation so it can serve as a permanent source of financial support to Saint Mary of the Assumption Parish and her corporal and spiritual works.
The Saint Mary of the Assumption Foundation has employed Christian Brothers Investment Services, Inc., to manage and guide our investment decisions with the teachings of the Catholic Church.
Our Board of Directors
- Rev. Fr. Craig R. Eilerman, Pastor
- Mr. Bill Davis, Diocese of Columbus
- Mr. Joe Barrows
- Mr. John Baughman
- Mrs. Jane Carpenter
- Mrs. Natalie Chieffe
- Mrs. Sheila Heath
- Mr. Sean Kenney
- Mr. Chris Martin
- Mr. John McGraw
Our Foundation History
The St. Mary of the Assumption Foundation was formed in late 1992 as a tax exempt, non-profit organization.
The Foundation operated within the parish financial structure initially, with funds being separated for the Church, School and Cemetery. Over a period of years reserves were set aside from parishioner donations and estates, and from diocesan rebates associated with diocesan special fundraising campaigns. The Foundation was formerly funded through these parish reserves in the amount of $1,250,000 during FY 1998. (Cemetery – $150,000; School – $600,000; Church – $500,000).
During the first few years Merrill Lynch handled the investment of these funds, some grants were awarded for specific purposes and additional contributions were made by parishioners. St. Mary capital improvement funds were separated from the Foundation funds and also grew.
In 2003 Christian Brothers Investment Services, Inc. was selected to be the investment managers for the Foundation and other church funds. At that time the Foundation funds had increased to about $2,500,500.
From 2003 to 2017, prudent investment policies with some additional support from parishioners have increased the Foundation to over $6.5 million. Grants up to 4% (over $225,000) may be awarded each year from these funds to meet specific parish needs.