ABOUT
"Giving isn’t just a duty—it’s a blessing. Reflect today on how giving
enriches your soul more than receiving ever could." (Acts 20:35)
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Through the Generosity of Donors, their legacies of Faith will be established to fund and support Catholic programs and donor wishes for generations to come.
MISSION OF THE LFF
The mission of the Foundation is to support religious, educational, and charitable programs of the Diocese, its parishes, schools, and ministries. Additionally, other Catholic charities that exist and operate outside of the Diocese may also receive support.
Diocese of Baker has established endowments so that there will be financial assistance to parishes, schools, camps, retreats, social service ministries, etc and more for generations to come.
The commitment to investors are: “You set the direction… We stay the course”
Today, the Foundation attracts a growing number of Catholics who want to share the blessings God has given them in a way that will make a lasting difference to the Church they love.
OUR HISTORY
In 2006 Bishop Vasa consolidated many stock portfolios into one diversified/balanced and protected as its own entity. The Legacy of Faith, Catholic Community Foundation in Oregon, has been part of our Catholic community of faith since 2007.
The Foundation has a vision for the future in support of the work and ministries of the Catholic Diocese of Baker. Such ministries include our parishes, Catholic schools, retreats, charitable and educational programs, and institutions. LFF is an important part of our Diocesan life and responsibility for good stewardship.
WELLS FARGO TO CATHOLIC EXT.
Since the inception of LFF, Wells Fargo offered Catholic investment screening (SRI), however, in 2024 they moved away from that offering. The LFF (Legacy of Faith Foundation) Board voted in October 2024, after a thorough search, to transition our investments to the Mission Diocese Fund, LLC.
The Mission Diocese Fund was started by the Catholic Extension Society in 2012 (a financial supporter of the Diocese of Baker since 1906) at the request of Bishops from mission Dioceses (like ours) to provide a pooled portfolio to invest Long term assets such as Endowments, Designated Funds, Restricted, Donor Advised Funds, Bequests. The board is confident that the Fund will serve the LFF well in this capacity to manage long term asset allocated portfolios for appreciation and limiting downside risk from periods like 2008-2009 from large downside risk. The LFF assets were transferred to our new custodian on November 1, 2024.
The Mission Diocese Fund provides LFF the opportunity to invest in a portfolio that:
1
Provides a global, diversified, actively managed portfolio that is typically reserved for large $100 Million or more institutional investors
2
Utilizes the services of Cambridge Associates as the Independent Investment Advisor
3
Provides access to World Class Separate Account Investment Managers (currently 26 different managers)
4
Is in full compliance with the United States Catholic Conference of Bishops Socially Responsible Investment Guidelines with regular screening of holdings
5
The fees are subsidized by the Catholic Extension Society to keep the asset management fees competitive
6
Joins LFF in Solidarity with 65 other mission dioceses, managing over $320 million invested together getting us the opportunity to have this level of prudent, professional management and oversight.
GROWTH
ORIENTED FRAMEWORK
Our growth-oriented framework focuses on each asset class’s role in the portfolio:
GROWTH
(global public equity)
Drive overall portfolio growth to support spending and maintain principal over the long-term – Current Holding 63%
DIVERSIFIERS
(typically hedge funds)
Mitigate portfolio volatility by focusing on differentiated strategy less correlated to equities – Current Holding 25%
DEFLATION HEDGE & CASH
(fixed income)
Provide a source for near term spending and preserve capital in market drawdowns – US Treasuries, municipal bonds, investment grade corporate bonds – Current Holding – 12%
CURRENT STATUS OF THE LFF
Through the generosity of donors, their legacies of faith will be established to fund & support catholic programs for today & beyond.
RETURN
INVESTMENT
STRATEGY
Focused on a long time total return investment strategy
GROWTH BIASED:
AGGRESSIVE GROWTH & INCOME
65-70% Diversified Equity, 25-30% Fixed Income, 5-7% Real Assets & 3-5% Cash. The overall Foundation currently manages over $7M.
DISTRIBUTIONS
In 2023 the Foundation has distributed over $60,000 on behalf of Endowments, DAFs and its own philanthropy supporting our schools and greatest need in the diocese.
INVEST USING CATHOLIC VALUES
Pro-Life, no gambling, no tobacco/alcohol, no pornography removes companies sponsoring anti life agencies and products
LFF is its own legal entity, independent of Diocese & Parishes.
Distributions directed by binding agreements from each donor.
Independent Board and outside Auditors oversee investments & recipients.
If you are interested in exploring the Foundations services and how they may help you establish a fund that fits the spiritual legacy you may wish to leave to your parish, school, diocese or diocesan programs or other charitable organizations in or outside of the Diocese of Baker.
In addition, you may donate, now or anytime in the future, any amount to one or more of the funds.
For generations to come the mission of our Foundation will continue to sustain and enhance the charitable, educational, and the spiritual ministries of our diocese.
Through the Foundation, philanthropic money is being invested wisely and will benefit our Community for many generations to come.
CALL TO ACTION OF LFF
As you prayerfully consider philanthropy, I hope you will consider how you can make the Legacy of Faith Catholic Community Foundation a part of your charitable giving plans, both now and in the future.
Every donor and potential donor has a life story that is special and unique. A number of families and entities in the Diocese of Baker have established: Endowment funds, Designated funds, Donor Advised funds, Planned gifts and Agency funds in support of advancing Catholicism.
Tell them to do good, to be rich in good works, to be generous, ready to share thus accumulating as treasure a good foundation for the future, so as to win the life that is true life.
1 Timothy 18-19
ADMINISTRATION
Our cost to serve is one of the lowest in the industry and we are honored to provide one on one services to our clients in person. The expenses of the day to day activities of the Foundation was originally funded by the Board of Directors either with cash or in-kind donations.
The fees on the various funds that have been established with the Foundation by donors pay our existing expenses which are minimal. We have also secured an arrangement where the brokerage fees are at a guaranteed low rate while utilizing some of the best minds in the business. All investments are audited quarterly for Catholic values.
Lastly the overall governance is all Catholics in good standing across the diocese with a wide range of experience and knowledge. We are blessed!
BOARD MEMBERS
Most Reverend Liam S. Cary
President
(Permanent Member) from Diocese of Baker
Chris Ambrose
Vice-President
Donor Relations Committee, Grant Oversight Committee) from St. Edward the Martyr, Sisters
Dr. Dennis Dempsey
(Marketing & Promotion Committee) from St. Edward the Martyr, Sisters
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John Kennedy
(Grant Oversight Committee, Grant Oversight Committee, Marketing & Promotion Committee) from St Thomas, Redmond
Mary Forman
Treasurer
(Donor Relations Committee [Lead], Canney Scholarship Committee) from St. Patrick, Madras
Mark French
Executive Director
(Investment/Allocation Committee, Grant Oversight Committee [Lead], Canney Scholarship Committee, Donor Relations Committee, Marketing & Promotion Committee) from St. Francis of Assisi, Bend
Gene Wellman
(Investment/Allocation Committee [Lead], Marketing & Promotion Committee) from St. Edward the Martyr, Sisters
John Schimmoller
(Grant Oversight Committee, Canney Scholarship Committee) from St. Francis of Assisi, Bend
Polly McKay
(Marketing & Promotion Committee [Lead], Donor Relations Committee) from Our Lady of Angels, Hermiston
Steve Eldrige
(Investment/Allocation Committee) from Our Lady of Angels, Hermiston
Fr. Todd Unger
(Canney Scholarship Committee [Lead], Grant Oversight Committee) from St Thomas, Redmond
WE ACKNOWLEDGE THE IMPORTANT CONTRIBUTION OF OUR CONSULTANTS
ACCOUNTING
AND AUDIT
Hope Burke, CFO, Diocese of Baker
Chris Mahr + Associates | CPAs
INVESTMENT
ADVISOR
Tom Riordan, Vice President, Mission Partnerships, Catholic Extension Society
Betty Assell, Senior Manager of Annuities, Catholic Extension Society
David Druley, the CEO at Cambridge Associates
Kevin Freihoefer, Wells Fargo Advisors Financial Network (Finet)
LEGAL
Christopher R. Ambrose, Ambrose Law Group LLC
Catholic Mutual
Affinity Nonprofits, D&O Insurance
LFF STAFF
Terri Isom, Administrative Assistant
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DistributionHalf of the fund's interest is divided among St. Thomas Academy, St. Thomas Parish, and a Diocesan fund for priests.
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Catholic ContextThe fund operates within the framework of the Catholic Church, specifically the Diocese of Baker, and is named after St. Jude, a patron saint within the church.
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ReinvestmentThe other half of the interest is reinvested to increase the fund's overall value.
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FundingThe fund is primarily supported by the donor's long-term estate planning, with a portion of the funding being ongoing and the major contribution occurring upon the donor's death.
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ImpactThe distributions are unrestricted, allowing the recipients to use the funds as they see fit.
FAQS
HEAR FROM DONORS
