Foundation of the Cathedral Church of Saint Mark
Foundation of the Cathedral Church of Saint Mark
Make Your Legacy Part of Saint Mark's Future
The Foundation of the Cathedral Church of Saint Mark is 501(c)(3) corporation registered under the laws of the State of Minnesota. Its 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:
- 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.
- 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.
- It makes one-time grants to the Cathedral; it recently made emergency grants which helped support the Cathedral during the pandemic shutdown.
- 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.
Why Give to the Foundation?
A legacy gift supporting Saint Mark’s Cathedral can combine your financial and estate planning goals while making a charitable contribution to an organization that has been important to you. No matter the size of your planned gift, we can help you find an option with financial benefits for you and your heirs that can also provide important support for the mission of Saint Mark’s.
What to Give
How to Give
As stated in the Articles of Incorporation, all members of the Board of Directors must be members of Saint Mark's and must be approved by the Council. Their role is to create and implement the investment policies of the Foundation, to choose the investment managers, to monitor the managers' performances, and to make any changes necessary to meet the Foundation's goals. The three officers are elected from the members of the Board of Directors.
Paul Anton is a retired economist. Prior to operating his own consulting firm, he held positions as Director of Economics at First Bank System – now US Bank –and Research Economist at the Federal Reserve Bank of Minneapolis. Since 1985, he has been a member of the Council of Economic Advisors for the State of Minnesota. He has been a member of Saint Mark's since 2013 and has served the Cathedral as Council Member, Finance Chair, and Treasurer.
Richard Helling has been a member of Saint Mark's for 30 years. He has served on the Wells Foundation Board, Altar Guild and several terms on the Vestry/Council. During his most recent time on Council, he served as chair of the Stewardship Committee. Richard has recently termed off the board of Global Minnesota, the state's leading non-profit for international engagement, chairing the Corporate Membership Committee. He is currently on the board of the Minnesota Bach Society. After 41 years, Richard recently retired as an SVP from Wells Fargo Bank, working in the international trade finance group.
Ellen Archibald, retired attorney and former trust officer, joined Saint Mark's in 2015. She has sung in the Cathedral Choir, served on the Finance Committee and as Clerk of Council, and she is a lector. She served as an ECMN Trustee and continues on the Trustees' Investment Committee. She volunteers as a member of MinnPost's Board of Directors as an AARP legislative advocate and speake, as a member of AAUW Minneapolis's Investment Committee, and with other groups.
Brian Myers and his wife, Kathy, have attended Saint Mark's for 12 years. During that time, Brian has served on the Council and as Treasurer and Chair of the Finance Committee. Professionally, Brian has managed several of the safety businesses within 3M and its predecessor and has worked in the safety products industry for more than 30 years.
Penelope has been a member of the board since 2014 and is an experienced business leader specializing in new business development in the food retail industry. Penelope is Co-Founder and former President of Capital Food Group, Inc. / FOODTEMPS. She's an experienced non-profit business leader, as Board Member of the Loppet Foundation / Loppet Adventures. She is also a Trustee for Ripon College in Ripon, Wisconsin and has previously held the position of President for the Washington, D.C. and New York Chapters of Les Dame d'Escoffier International. Furthermore, she is a a co-founder of The Bakers Dozen East, a New York State Not-For-Profit Corporation.
Paul has been a member of Saint Mark's since January 1991. He served as Treasurer for three years from 2012-2015. He worked for 39 years for Control Data Corp. and Verizon as an Engineer, Engineering Department Manager, and Product Manager, where his responsibilities included negotiating complex business agreements. He is currently retired.
Contact us for more information on making a legacy gift to the Cathedral Foundation of Saint Mark's. If you have already included Saint Mark's in your estate planning, please let us know.