Assist Priestly Vocations through the Seminarian Education Fund $3,200,000
The Seminarian Education Fund fuels the diocese’s efforts to attract quality young men to the religious life. Recent efforts by the diocese have been successful in recruiting a record-breaking number of 15 men to the seminary. For our diocese, that positive trend appears likely to continue. However, higher numbers of students mean higher costs for the diocese. Funds of the campaign will be invested so that interest earned can be used to help cover the $34,375 annual average cost of educating and forming our future priests.
How does the Diocese support Seminarian students?
College level seminarians receive a 55 percent scholarship from the diocese and are responsible for the other 45 percent. Seminarians in the Major Theologate, as well as Pre-Theologians, receive 100 percent support from the diocese that covers tuition, books, room and board.
How much is the fund?
There was $1,761,781 as of December 31, 2015.
How do special collections assist seminrians?
The diocese uses the annual special vocations collection to meet current, ongoing costs. Special offertories and interest from seminarian burses make up 7 percent of the annual costs. The remainder is covered from the diocesan operating budget. The plan for this campaign is to build up the Seminarian Education Fund to generate additional interest income to meet the growing costs of educating added seminarians.
Who oversees both of these funds?
The plans are governed by the Diocesan Finance Council appointed by Bishop Provost and comprised of priests and lay experts. The plans are audited by a third-party annually.