St. Mary's University
- Hits: 1656
St Mary's Chair For Catholic Studies and St Mary's Chair Foundation
The Foundation was formed in 1993 with the goal to raise One Million Dollars to establish a CWL Chair For Catholic Studies at the then St Mary's College.
In 2010 the goal of 1.2 million was reached and 100% of the monies were handed to the now St Mary's University. At that time the Foundation was disbanded as there was no further need. Calgary Diocesan CWL no longer has any control on the monies, just to monitor the initial investment amount. This is done each year by StMU supplying us a Financial Report that is published in our Diocesan Convention Booklet.
The criteria under which the monies were given, was that investment income of the 1.2 million was to fund the salary of a professor to teach in the area of Catholic Studies at StMU. The principal investment of 1.2 is not to be used. It is an investment. If this Foundation with the same intent had been established in 2010 the minimum to establish the Chair would have been 2 million. That is why Councils are asked to keep giving to the Chair in order to sustain it and provide a full salary to someone teaching Catholic Studies at StMU.
If donations are not specified to go to the CWL Chair, funds will go into StMU General Revenue. Therefore it is most important that when you donate to the Chair, you specify that the funds are for St. Mary's Chair.
The 2017 CWL Diocesan Convention Booklet reported that, as of March 31, 2017, the CWL Chair For Catholic Studies balance was 1,590,853.06.
Dr. Peter Baltutis is the current chair. Our Bishop is the Chancellor of St. Mary's University. Our CWL Diocesan Education and Health Chair sits on the committee for St. Mary's Chair.