FORUM – Cathedral Foundation Update

Hear updates from Paul Anton of the Cathedral Foundation.

The Foundation of the Cathedral Church of Saint Mark’s purpose is to manage the permanent endowment and designated gifts to the Cathedral for the long-term benefit of Saint Mark’s. The Foundation invests those funds with a diversified group of professional money managers.

The Foundation supports the Cathedral in four ways:

1. It makes an annual distribution of a portion of the earnings of its assets to support the Cathedral’s operating budget; in normal years, the distribution provides about ten per cent of the Cathedral’s income.
2. It occasionally makes loans to the Cathedral for capital projects; in 2018, it made a loan for renovations to the 425 House and was repaid from the proceeds of the sale of the House.
3. It makes one-time grants to the Cathedral; it recently made emergency grants which helped support the Cathedral during the pandemic shutdown.
4. It also distributes the funds from designated gifts to the Cathedral on an annual basis in line with the wishes of the donors.

Gifts may be made either to the general endowment or designated for a specific purpose. However, it important that any designated gift be discussed with the Foundation in advance to ensure that donor’s objectives can be achieved.

Learn more here!