Upkeep Trust Fund

Sunday, November 27, 2005/Categories: Parish News

In November 2000, four present and past parishioners of St. Mary’s Parish established the St. Mary’s Parish Cemetery and Building Upkeep Trust Fund under the STEP Foundation. The STEP Foundation is a community foundation that encourages people to contribute money to be re-invested to maintain and improve the quality of life in Nemaha County

The St. Mary’s Parish Fund was established for the benefit of St. Mary’s Parish. Income earned on deposits in the Fund can be used first for needed upkeep and maintenance of the parish cemetery and secondly for the upkeep and maintenance of the church and other buildings and grounds. No part of the principal is to be expended for any purpose unless perhaps due to catastrophic circumstances.

The Advisory Committee, initially comprised of the four individuals who established the Fund, will provide recommendations after consultation with the Pastor to the STEP Foundation regarding distributions to the Parish for the intended purposes. The STEP Foundation is responsible for managing funds entrusted to it.

During the first five years, only 50% of the annual income (interest proceeds) of the St. Mary’s Fund is to be distributed. This allows the balance in the Fund to grow. All distributions will be given directly to St. Mary's Parish.

The balance in the St. Mary’s Fund, as of April 2002 was $58,087. The STEP Foundation encourages additional donations.

Here are some “Frequently Asked Questions:”

How do I make a contribution to the St. Mary’s Church Fund?
Contributions can be made payable to: STEP Foundation, PO Box 165, Seneca, KS 66538.

Will my contribution be tax deductible?
Yes, STEP is a non-profit 501(c)3 corporation. Contributions are tax deductible to the extent you have sufficient deductions to itemize on your tax return.

Can I contribute appreciated property such as stocks or real estate?
Yes, STEP is able to accept most kinds of investments. In fact, a gift of appreciated assets can provide you with tax and income benefits such as:
*Completely avoiding capital gains tax," and
*Deducting the full present value of the asset.

I have additional questions. Who can I ask?
You can contact a STEP Board member or the Pastor, who can direct you to someone who can answer your questions.

How does STEP distribute funds?
Distributions are made by STEP as periodic grants. The grants typically fit into one of five categories: Cultural, Economic, Educational, Health, or Recreational opportunities.

Who governs STEP?
STEP is governed by a twelve-member board. The four-year terms are staggered so as to maintain continuity. The present board members are: Sherri Alverson, Lois Crosier, Nancy Gafford, Greg Haynie, Shirley Heideman, Jim Heinen, Dan Henry, Susie Henry, Jim Koch, Don Lueger, Dean Rial, and Gary Sparling.


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