I pray for your well-being and serenity in this great time of uncertainty. It is now more than ever that we must have faith and trust in the strength of Our Lord.
As you are aware, the COVID-19 pandemic has greatly affected our global financial markets. While the Foundation's investment portfolio has not been immune to losses, the Foundation management, in consultation with our Finance and Investment Committee, has been working to reduce the effects of the decrease in its market value by implementing our own risk management processes with our investment partner, JPMorgan Chase.
If you recall our portfolio experienced a net loss of 35% in 2008, only to see it rebound with a 10.3% gain by 2010. From July 2010 until June 2019, our portfolio grew 60% to $66,940,166 because of new endowments, new donor-advised funds, new Catholic Savings Fund contributions, and investment earnings. We are proud to report that the Catholic Community Foundation has distributed over 25 million dollars to parishes, schools, Diocesan ministries, and scholarships to students from 2008 to 2020.
My brothers and sisters in Christ, now is not the time to imitate "the wicked, lazy servant" in Matthew's Gospel who buried his talents in the ground out of great fear of his master. Now is the time to remember that our call to "Love God and Love neighbor" is even more important. We are called to support those in most need and the Foundation has many giving opportunities available to share that "love" with "neighbor". We will be sending you more information about how you can help contribute in the weeks to come.
The Foundation is proud to announce we will not be reducing our savings rate of 1.25% at this time. We will continue our commitment to providing a safe and Catholic compliant savings option to our community. Over time, we will reevaluate this rate, if necessary. However, for now, the rate will remain at 1.25%.
Even in this time of great uncertainty, be assured that we remain committed to the socially responsible investment policies established by the U.S. Conference of Catholic Bishops (USCCB). These policies are the core of our portfolio by "protecting human life, promoting human dignity, reducing arms production, pursuing economic justice, protecting the environment and encouraging corporate responsibility."
Also, due to the growing healthcare emergency and guidelines from the CDC, the Foundation has decided to reschedule the Crozier Gala to Saturday, October 24, 2020. We will communicate event details as soon as we have them confirmed.
If you would like to discuss the mission of the Catholic Community Foundation, please feel free to contact me, Deacon James Carabajal at (480) 651-8801 or email@example.com. Kyle Felix, Director of Finance, is also available to discuss the Foundation's financial mission. Kyle can be reached at (480) 651-8805 or firstname.lastname@example.org.
Finally, let us remember all those whose lives have been severely impacted by the COVID-19 virus. May this new challenge in our Lenten journey bring us closer to Our Lord and to each other in our community.
Let us pray,
Help us, Mother of Divine Love, fill our hearts with your ever-present love. We ask that you be with us in the time of uncertainty. We invite your peaceful spirit to fill our homes and settle the restlessness in our hearts. We know that in these times of doubt, you are always faithful. We pray Mother Mary, to intercede on our behalf to your Son, deliver us from every danger, O glorious and blessed Virgin. Amen.
Deacon James Carabajal, CEO Catholic Community Foundation