What is the Theresian Foundation?
The Theresian Foundation is a not-for-profit organization whose sole purpose is to financially support the activities of Theresians International. The Theresian Foundation makes and maintains socially responsible investments that are overseen by its Board of Directors. No other entity or individual benefits from its investments.
The Theresian Foundation, Inc. is a 501(c)(3) tax exempt organization listed in the Official Catholic Directory. Gifts made to the Theresian Foundation are tax deductible to the fullest extent of the law.
What is the origin of the Theresian Foundation?
Msgr. Elwood C. Voss, the founder of Theresians, passed away in 1990 and willed his home in Scottsdale, Arizona, to Theresians. Proceeds from the sale of the home netted $97,000, which was invested as the E. C. Voss Endowment Fund. In 2001, the fund became a separate not-for-profit corporation under the name Theresian Foundation.
Why does Theresians International need the Theresian Foundation?
The Theresian Foundation assures the sustainability of Theresians International. As Theresians International continues to develop, with a focus on future generations of Theresians, additional funds are needed for outreach so that more and more women will have the opportunity to experience the benefits of being a Theresian and enhancing their personal spirituality.
How is Theresians International funded?
Theresians International has three main sources of funding: annual membership dues, the Theresian Foundation, and the Theresian Fund. Since annual membership dues do not completely cover the annual budget of Theresians International, the Theresian Foundation and the Theresian Fund work to balance the Theresians International budget.
What is the difference between the Theresian Fund and the Theresian Foundation?
The Theresian Fund is a working fund and the money collected goes entirely toward the operational expenses of Theresians International. The Theresian Foundation is an investment fund which distributes a set percentage of its financial assets annually to Theresians International. The Foundation’s goal is the perpetuity of the Theresian organization, its mission and ministry, for future generations, while the Theresian Fund is an annual drive to cover expenses. Donations to the Theresian Foundation and the Theresian Fund are tax-deductible.
Who oversees the operation of the Theresian Foundation?
The Theresian Foundation Board of Directors oversees the operation of the Theresian Foundation. The board is comprised of seven Theresian members who serve staggered three-year terms with the option of each serving three consecutive terms. These Theresian members are experienced Theresians who have served in leadership positions and usually had prior service on the boards of either Theresians International or the U.S.A. National Leadership Team. The Board meets four times a year, three by conference call and once in person.
How are the funds of the Theresian Foundation invested?
Since the inception of the Theresian Foundation, its Board of Directors has chosen to invest the funds with Christian Brothers Investments Services (CBIS). CBIS has a long history of providing professional and socially responsible investments for the Catholic Church and its related organizations, convents, schools, and hospitals. Funds invested with CBIS are consistent with our faith and the social justice teachings of the Church.
How are donations made to the Theresian Foundation?
The Theresian Foundation receives funding from a variety of sources, including Celebrate Life cards, Women of Vision recognitions, the sale of Theresian jewelry, and planned gifts. Because of the significant impact Theresians has made on the lives of its members, some members and supporters have chosen to remember the Theresian Foundation in their wills through life insurance, outright gifts, and Charitable Remainder Trusts.
What are Celebrate Life cards?
These cards are a meaningful way to remember a birthday, an anniversary or other special event in the lives of those who are special to you. They also serve as a memorial acknowledging the death of someone. Cards are available through the Theresian office or local Theresian communities. Fill out the card and mail it with a donation to the Theresian office. The recipient will receive an acknowledgement of the gift.
What is the Woman of Vision recognition?
This is a perfect way to recognize an outstanding woman who lives the Theresian motto of “Women in Support of Women—Reaching Out with Gospel Values.” With a donation in the amount of $2,500 to the Theresian Foundation, the recipient receives a beautiful crystal sculpture. The recognition is usually presented at a Theresian event, a Day of Prayer, or a national/international conference. Family members or Theresian members can nominate someone to receive this recognition. Many of the recipients have made outstanding contributions to Theresians on a number of different levels—local, district, state, national, or international, and served on special committees.