Investing with Faith / Jim Maslar

Perpetual endowments give us the chance to build our ‘cathedrals’

Whether Catholic or not, almost everyone who travels to Europe visits a cathedral.

Before the 2019 fire forced its closure, Notre Dame Cathedral in Paris drew 12-14 million visitors every year. That’s an astonishing number, especially since the population of France’s capital city is slightly more than 2 million. But even more amazing is that Notre Dame is only one of more than 600 spectacular churches still dotting the continental landscape. Some have been standing as a public witness to Christian faith for more than 1,000 years.

Of course, extraordinary places like Chartres, St. Peter’s, Westminster Abbey and Sagrada Familia don’t suddenly appear out of nowhere. Our spiritual ancestors made a substantial commitment to build cathedrals around the world that would glorify God and nourish the faith of generations to come. Those who began these ambitious projects did so with little expectation of living long enough to see them completed. Most took at least 50 years; many rose through the centuries.

Construction required highly skilled workers and engineers, and the expense was astronomical. Donations of sums large and small—as well as in-kind contributions—were pooled together. The beautiful structures we enjoy as an inheritance are a testament to what generations of people collectively investing their resources can accomplish. They created a lasting spiritual legacy that has touched the lives and souls of millions.

Today, there are other kinds of “cathedrals” to be built, and I believe our generation has a unique opportunity to do just that. What could our lasting mark of stewardship in this world be that glorifies God and nourishes the faith of the generations to come?

Might I humbly suggest that endowments can be the financial “cathedrals” of our time, capable of helping to sustain the works of our Church for decades and centuries to come, witnessing to the faith and sacrifice of our current generation in perpetuity?

And we are living at a unique moment for this, indeed. During the next 15-20 years, we will witness the largest transfer of wealth in human history from the older generations (“silent” and “baby boomers”) to those below (estimated to be $40-70 trillion).

Our stewardship, therefore, has an unprecedented opportunity to put the mission of the Church on a firmer financial foundation than ever before. I admit that I’m biased, but I’m hard-pressed to think of a more lasting way to do this than by building up the endowments that support our favorite Catholic parishes, schools and ministries.

Endowments by nature are built to last and impact our Church and all those we serve across generations. They compound and grow steadily over time, providing financial support to the ministries they are tied to year after year. Thus, my gift to an endowment now or through my estate (say, a provision in my will or naming one as a beneficiary of a retirement, brokerage or bank account) will, in a very real way, redound and grow across time.

I am certain that there was a medieval mason from a small French village somewhere, driven by his Catholic faith and love of God, who spent most of his life carving a small portion of Chartres Cathedral’s stone facade, giving what he could.

More than 800 years later, as I stood in awe before it on a college trip, my soul was touched and lifted, nourished and humbled, feeling a uniquely deep connection to my spiritual ancestors and Catholic faith. His quiet offering impacted me all these generations later. Perhaps I can do something similar with my resources. Perhaps we can do something similar with our resources. What will our generation’s “cathedrals” be?

If contributing to one of the 580 existing endowments that support our 126 parishes, 67 schools and more than a dozen archdiocesan agencies might be of interest as you consider your legacy, please let us know. We are here to help and serve you and the good works of our Church. Contact us at 317-236-1482 or ccf@archindy.org.
 

(Jim Maslar is a Catholic philanthropic advisor for the archdiocese’s Catholic Community Foundation. Tax or legal information provided herein is not intended as tax or legal advice. Always consult with your legal, tax or financial advisors before implementing any gift plan. To learn more about charitable gift annuities that support the mission of Christ in the Archdiocese of Indianapolis, e-mail ccf@archindy.org, or call 317-236-1482.) †