A Description of WCMF

The Wyoming Catholic Ministries Foundation
A Description - August 24, 2020

History

In September of 1994, the Diocesan Finance Council recommended a feasibility study to examine the formation of a foundation for the Diocese of Cheyenne. A committee was formed, consisting of the Vicar for Canonical Affairs, the Moderator of the Curia, the Diocesan Finance Officer, the Diocesan Civil Attorney and the Diocesan Accountant, who conducted the study and made a report. After considering the report and much discussion, the Diocesan Financial Council and the College of Consultors recommended in 1997 that the Wyoming Catholic Ministries Foundation be formed. In March of 1998, the Articles of Incorporation were filed with the Secretary of State.  The Wyoming Catholic Ministries Foundation was established as both a public juridic person in canon law and as a Wyoming nonprofit religious corporation.

Purpose of the Foundation

The Wyoming Catholic Ministries Foundation shall function for the purpose of supporting the religious, charitable, ministerial, and educational programs of the Roman Catholic Church in the State of Wyoming, as expressed in the teachings, the canon law, and the customs and practices of the Roman Catholic Church, and, more specifically, to provide acceptance, investment management, and distribution of gifts and other assets properly given to this Corporation, and to engage in such other activities as may be necessary or appropriate and consistent with this Corporation’s status as exempt under section 501(c)(3) of the Internal Revenue Code.

Governance

The Foundation is managed by a board of directors. Under the bylaws, (updated and approved in May 2020) the board shall not less than 6 and no more than 15 members. The Bishop of the Diocese of Cheyenne serves as an ex-officio, non-voting member of the Board.

The employees are employees of the Foundation. The Foundation maintains policies and practices as developed and approved by the Board.

The assets of the Wyoming Catholic Ministries Foundation are arranged in the following ways.

 

1. By Category –
   1. Permanently Restricted Funds (Restricted by the Donor with the balance of the original gift being preserved and/or grown with some or all the return being used for the specified purpose.) [01]
   2. Temporarily Restricted Funds (Restricted by the Donor with a portion or the entirety of the original gift or just some or all the return being used for the specified purpose.) [02]
   3. Unrestricted Funds [03]
2. By Groupings and Individual Funds
   1. Seminarian Education Assistance
      1. Seminarian Education Endowment [01]
   2. Ambrose Trust
      1. Ambrose Trust [01]
   3. Diocesan Operation Assistance
      1. Diocesan Operations Endowment [01]
   4. Clergy Education and Assistance
      1. Hotchkiss Clergy Continuing Education Endowment [01]
      2. Clergy Special Care Fund [02]
      3. Retired Clergy Supplemental Insurance Fund [02]
      4. Retired Clergy Assistance Fund [02]
   5. Catholic Schools Assistance
      1. Brother Martin Klietz, CFC Catholic School Endowment [01]
      2. Bishop Newell Catholic School Endowment [01]
   6. Youth Ministry Assistance
      1. Thomas Youth Ministry Endowment [01]
      2. Brittney Farmer Youth Ministry Scholarship Endowment [01]
   7. Parish Assistance
      1. Parish, Religious Education and Catholic School Education Endowment [01]
      2. William and Delia Lamb/Our Lady of the Woods Endowment [01]
      3. St. Paul Newman Center Building and Property Acquisition Fund [02]
      4. Parish Loan Fund [02]
   8. St. Mary’s School Scholarship Assistance
      1. St. Mary’s School Scholarship Endowment [01]
      2. Bill Yannaccone St. Mary’s School Scholarship Endowment [01]
   1. Elderly Housing Assistance
      1. Cles Housing for the Elderly Fund [02]
   10. Gift Annuities
       1. Gift Annuities [03]
   11. General Accounts
       1. Operating Fund [03]

A brief Description of the Individual Funds:

Permanently Restricted (Restricted by the Donor with the balance of the original gift being preserved and/or grown with some or all of the return being used for the specified purpose.)

Seminarian Education Endowment
The Seminarian Education Endowment provides for seminarian education and vocation development.

The Fred W. and Laura Agnes Ambrose Trust
The Fred W. and Laura Ambrose Trust resulted from a bequest from Fred W. and Laura Ambrose.  At present, the Trust is a split interest agreement where an heir of Mr. Ambrose receives an income and the Foundation receives an income for the following purposes in the order listed:
 

• First, for scholarships to young men and women, residents or non-residents of the Diocese of Cheyenne, as selected by the Bishop of Cheyenne, Wyoming, who are studying in preparation for religious vocations, under such terms and conditions and in such amounts as determined by said Trustee;
• Second, for scholarships to qualified wards of St. Joseph’s Children’s Home, Torrington, Wyoming, to enable them to attend a college or university, under such terms and conditions and in such amounts as are determined by said Trustee; and if there is any income remaining:
• Third, for such missions as are selected by said Trustee, at such times and in such amounts as deemed advisable

Upon the death of the surviving heir, all the income from the Trust can be used for the purposes stated above.

Diocesan Operations Endowment
The Diocesan Operations Endowment provides grants to help sustain and support the work of the Diocese of Cheyenne and the ministries of the Bishop.

Hotchkiss Clergy Continuing Education Endowment
The Hotchkiss Clergy Continuing Education Endowment was established from an estate gift from Ms. Anne Hotchkiss in 1986 to provide for the continuing education of clergy after ordination.  This includes funding for studying for advance degrees, participation in sabbatical programs, attendance at workshops, etc.

Brother Martin Klietz, CFC Catholic School Endowment
The Brother Martin Klietz, CFC Catholic Education Fund is an unrestricted fund established in 1992 upon the death of Brother Martin Kietz, CFC.  Because of Brother Martin’s love for Catholic education in Wyoming , the fund was established in his name to support Catholic schools in the Diocese of Cheyenne.

Bishop Newell Catholic School Endowment
The Bishop Newell Catholic School Endowment was established in 1973 from the proceeds of the sale of 58 acres of property in north Cheyenne that had belonged to the Diocese of Cheyenne.  Bishop Newell established the fund, and in his words “with the income earmarked for Wyoming Parochial schools.”  In 1997, a gift of property from Warren and Betty Carroll of Casper , Wyoming sold and the proceeds were added to this endowment.

Thomas Youth Ministry Endowment
The Thomas Youth Ministry Endowment began in 1993 with a gift from Larry and Beverly Thomas for the restricted use set forth by them, namely any special youth ministry programs that have not been funded through the annual budgeting process.  “These special programs and projects will be at the discretion of the Diocesan Youth Director having heard the counsel of the Youth Ministry Advisory Council.”

Brittney Farmer Youth Ministry Scholarship Endowment
The Brittney Farmer Youth Ministry Scholarship Endowment began with a donation and small campaign by the Randy and Cheryle Farmer Family.  Proceeds from this endowment are to be used to help young people from throughout the state to attend diocesan youth events. Partial scholarships will be awarded to individuals unable to afford to participate in these diocesan youth activities.

Parish, Religious Education and Catholic School Endowment
The Parish, Religious Education and Catholic School Endowment was established in 1999 as a part of the Diocese of Cheyenne’s Legacy of Faith Campaign.  According to its spending policy, the proceeds of the fund will be distributed in the form of grants to parishes, Catholic schools, and religious education programs throughout the Diocese that request support, particularly for technology.

William and Delia Lamb/Our Lady of the Woods Endowment
The William and Delia Lamb/ Our Lady of the Woods Endowment was established in 2007 by the Lamb’s for the exclusive purpose of providing maintenance and improvements of the buildings, fixtures and grounds at Our Lady of the Woods Catholic Church, in Dubois, Wyoming.  (The donors acknowledged and understood that Our Lady of the Woods is currently a mission church of St. Margaret’s Catholic Church in Riverton, Wyoming.)

St. Mary’s School Scholarship Endowment
The St. Mary’s School Scholarship Fund is a compilation of various donations from individuals for use as scholarship for needy students attending St. Mary’s School in Cheyenne, Wyoming.

Bill Yannaccone St. Mary’s School Scholarship Endowment
This endowment was established in 2007 with the exclusive purpose of providing tuition assistance (scholarships) for students to attend St. Mary’s School in Cheyenne, Wyoming.  Scholarships are to be awarded annually to one or more students enrolled at St. Mary’s School.  When awarding scholarships, the donor directed that consideration of possible recipients be made according to the following order:
 

• • First, children of members of St. Mary’s parish
  • Second, children of members of another Cheyenne parish; and
  • Third, Catholic students from the surrounding area within the Diocese.

Temporarily Restricted Funds (Restricted by the Donor with a portion or the entirety of the original gift or just some or all the return being used for the specified purpose.)

Clergy Special Care Fund
The Clergy Special Care Fund was established during the Diocese of Cheyenne’s Legacy of Faith Campaign in 1999 to help support the clergy of the Diocese of Cheyenne by meeting special healthcare needs that are not funded through insurance.

Retired Clergy Supplemental Insurance Fund
This fund was established to help retired clergy, mostly priests and bishops, of the Diocese of Cheyenne to pay the premium for their supplemental Medicare insurance.  Currently, this fund pays half of the retired clergy’s premium for their supplemental Medicare insurance.

Retired Clergy Assistance Fund
This fund was given by the Diocese of Cheyenne in 1998 to help assist retired clergy of the Diocese of Cheyenne when they have inadequate financial resources to provide for their care in their retirement.

St. Paul Newman Center Building and Property Acquisition Fund
The St. Paul Newman Center was established during the Diocese of Cheyenne’s Legacy of Faith Campaign in 1999.  This fund provides the seed money for the future expansion of facilities for education, community gathering and worship.

Parish Loan Fund
The Parish Loan Fund was established in 1999 as a part of the Diocese of Cheyenne’s Legacy of Faith Campaign.  The fund provides loans to parishes, missions, Catholic schools and other public juridic persons within the Diocese of Cheyenne for building projects, renovations, maintenance or emergency repairs.  Loans provided from this fund are intended to other sources of revenues for the project, such as savings in a building fund, fundraising activities and loans from other parishes and public juridic persons within the Diocese and from commercial institutions.  This fund is not intended to provide operational or ministerial funding.

Cles Housing for the Elderly Fund
The Cles Housing for the Elderly Fund began with an estate gift from Mr. George W. and Mrs. Virginia St. Denis-Cles in 1978.  The original estate gift was to be used “for the establishment and use of a Catholic home for aged persons to be located in the said Diocese of Cheyenne.”  In 1988, the estate was reopened and a motion authorizing funds for projects consistent with the original intent was approved. The Diocese used a portion of the monies for the construction of two apartments to be used for elderly retired priests at the Holy Trinity Church, Cheyenne, Wyoming.  In addition, the Diocese of Cheyenne desired to utilize a portion of the bequeathed monies for housing projects for the elderly, which will be sponsored by the Diocese of Cheyenne.

Unrestricted Funds (The balance is invested, but both the return and the balance can be used for purposes determined by the Board in accord with the general purposes of the Wyoming Catholic Ministries Foundation.)

Operating Fund
This fund provides for the general operating expenses of the Wyoming Catholic Ministries Foundation and for providing grants that are in accord with the purposes of the Foundation.