THE LEGACY OF ST. AGNES PARISH

A Testament To The Power Of Endowments | October 2023

In the heart of a community that has seen its share of ups and downs, St. Agnes Parish in Phoenix stands as a beacon of faith and resilience. Founded in 1940, the parish has weathered the storms of World War II, urban development, and a decrease in local affluence. The area surrounding the parish was once a stable, middle-class community. After the construction of AZ State Routes 51 and 202, the parish lost 500 families, and property values plummeted. Nevertheless, thanks in large part to the foresight of endowment planning, the parish is still thriving. Today, St. Agnes is home to a Parish School, four Sunday Masses in English and Spanish, and the beloved Sisters of Life, who live in the convent on the property.

The story of St. Agnes Parish's endowment begins with Mae Colcard, a parishioner who left an end-of-life gift in 1972. Upon her passing, Mae bequeathed real estate and energy royalties to the parish. The real estate she bequeathed soared in value with the construction of the new AZ 303. Her generous contribution has been a lifeline, especially for St. Agnes School, which has continued to operate uninterrupted thanks to the financial cushion provided by the endowment. Today, the Catholic Community Foundation is able to process complex gifts for individuals looking to bequeath their property to their parish.

Fr. Bradley Peterson O. Carm, who has served as pastor of St. Agnes Parish for the last 15 years, recently sat down with Kyle Felix, COO of the Catholic Community Foundation, to share his insights on the importance of endowments. 

"Endowments provide a cushion for bad times. We never know what's going to happen in the future, for better or for worse. Endowments provide a nest egg for times of uncertainty.”
— Fr. Bradley Peterson, St. Agnes Parish

Fr. Bradley brings a unique perspective to the table, given his business background and role as chair of his Carmelite province’s Finance Commission. He emphasized that while endowments may not be suitable for every parish, especially those not operating in a surplus, they are invaluable for those that can afford to set one up. "Endowments are a blessing on the side, that you know are going to be there regardless of what happens," he added.

Strategic Planning For The Future

The endowment has also opened doors for St. Agnes Parish in other ways. It provides an opportunity to pledge annual disbursements for the guarantee of loan payments, a crucial advantage as the parish seeks funding to improve St. Agnes School. "We received a large chunk of money and were spending it quickly on needed repairs, but I knew that we needed to preserve some of the gift given for the future," Fr. Bradley explained.

The story of St. Agnes Parish serves as a compelling case study for other parishes contemplating the establishment of an endowment. It underscores the importance of long-term financial planning and the role that endowments can play in ensuring the sustainability and growth of a parish community.

As we continue to engage our communities in philanthropy, educate on stewardship, and discuss end-of-life planning, let the story of St. Agnes Parish, the generosity of Mae Colcard, and the wisdom of Fr. Bradley inspire us all to think about the legacy we leave behind.

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