Foundation History

The St. Catherine of Siena Foundation was established on September 27, 1998, as a division of the Drake Newman Community in Des Moines by a vote of the Drake Newman Community Board of Directors. The Drake Newman Community in Des Moines is an incorporated Iowa nonprofit corporation and a parish in the Roman Catholic Diocese of Des Moines. St. Catherine of Siena is the Drake Newman Community in Des Moines.

The resolution establishing the Foundation states: “RESOLVED, that Drake Newman Community in Des Moines hereby creates a separate endowment fund to be established within the financial structure of this corporation to be known as the “St. Catherine of Siena Foundation” which may also at times be known as the Drake Newman Community Foundation.”

Governance

The Foundation is governed by its Bylaws and has its own bank account. The endowed fund was created “exclusively for the purpose of soliciting, collecting, investing and disbursing funds for the benefit of Drake Newman Community in Des Moines and St. Catherine of Siena Catholic Student Center.” The original fundraising goal for the endowment was $250,000.

The St. Catherine of Siena Foundation Bylaws state that the affairs and management of the Foundation, including the control and distribution of its property and funds, are vested in the Board of Directors. All powers of this Foundation, including the power to adopt Bylaws and amend and alter the same, are vested in the Board of Directors. Directors are elected by current Board members. The number of directors shall be not less than five (5) nor more than fifteen (15). The pastor of St. Catherine of Siena Parish is an ex officio voting member of the Board. Members can serve two consecutive three-year terms.

The officers of the Board include a president, a vice-president, a secretary and a treasurer. The officers are chosen annually by the Board of Directors at its annual meeting.

The annual meeting of the Board is held on the second Sunday of March. Regular meetings generally are held 3-5 times a year at times agreed upon by the Board.

Donating to the Foundation 

The St. Catherine of Siena Foundation Board respects that there are many ways in which each of us could financially give of what we have to support others, whether individually or in a collective goal. We encourage your consideration of and welcome your contribution to the Foundation. While most contributions come to us in gifts of cash (checks), some have been transfers of shares of stock or via legacy planning such as naming the Foundation in a will, on an insurance policy, in a retirement plan, or in a charitable annuity.

Our Foundation is young. It continues to gain strength both in its financial base as well as in putting available funds in motion through the granting process. Please contact Father Joel or any member of the Foundation Board if you would like to know more about a legacy gift to the Foundation. We recommend that you consult with your attorney and/or financial advisor to best understand the tax and other ramifications of your gift. Monetary contributions by check should be made payable to the St. Catherine of Siena Foundation.

Statement on Use of Endowment Funds

Affirmed by the Board March 11, 2007 Annual Meeting

No particular “wish list” has been established nor is one sought. The philosophy of the Foundation does distinguish between the use of funds as to principal and income. As stated in the initial publication concerning the Foundation, the principal of and income from the funds will be used to promote the continued financial solvency of the parish. Specifically, the income as opposed to the principal can be used to support programs and operations reflective of the philosophy of St. Catherine of Siena. These include but are not limited to scholarship, community outreach programs, fostering vocations/campus ministry and major replacements or repairs not typically covered by the operational budget. The use of the principal, while not restricted, could be used for unbudgeted capital improvements.

Grant application process

The Foundation each year awards monies from a pool of available dollars to student and non-student members of the Parish who have submitted applications for grants to support projects meeting granting criteria. The first year that grants were awarded was in 2004. Consistent with past grant processes, grant application period is open with a deadline of October 1 for projects in 2010. Consistent with the newly adopted grant processes, the grant application period will open again in January-February 2011 with a submission deadline of March 1. Available dollars are announced at the time of each open grant period. Funding priorities of the Foundation include campus ministry, community outreach, and education. 

Click here for a Grant Application