About Us -- Financial Prospectus
The McMahon Parater Foundation is a non-profit charitable organization, duly organized and authorized under the laws of the State of Virginia and the Internal Revenue code. All checks may be made payable to the McMahon Parater Foundation.
The proceeds realized by the Foundation will be allocated as follows: a percentage to be determined will build a permanent Endowment, and the remainder can be applied, at the Board's discretion, to the operational goals. The Foundation has adopted an investment philosophy for the Permanent Endowment based on preserving capital and maximizing returns, while maintaining proper asset allocation on a continuing basis. The endowment funds initially will be maintained in trust, through the Diocese, with the assistance of the Diocesan Finance Office.
Interest income from the endowment will be used for tuition assistance as well as to support operational needs.
"Young people of the third millennium must be a source of energy and leadership in our Church and our nation. Therefore, we must provide young people with an academically rigorous and doctrinally sound program of education and faith formation designed to strengthen their union with Christ and his Church." ~ USCCB