Perfect Fit Endowment

What is the Perfect Fit Endowment?
The fifteen-million-dollar Perfect Fit Capital Campaign initiated in July of 2021 had two components. The first component was to accumulate twelve million dollars for the purchase of the Mount Saint Benedict Monastery campus. The second part of the campaign was to raise three million dollars to fund an endowment (an investment account) so that revenue would be generated for the operations of the 62,000 square foot Diocese of Crookston Pastoral and Retreat Center.

What is the difference between giving to the Perfect Fit Campaign and the Perfect Fit Endowment?
The money paid directly to the campaign has been spent for the purchase of the monastery campus. Gifts to the Perfect Fit Endowment will not be spent but rather will be invested conservatively and in accord with Catholic social principles for the benefit of the operations of the Diocese of Crookston Pastoral and Retreat Center.

Why does the Diocese of Crookston need a Perfect Fit Endowment?
The operational costs of the old Chancery building on Memorial Drive in Crookston ran about $180,000 annually. The Pastoral and Retreat Center, being a much larger facility, will be more expensive to staff and to maintain. There are forty four retreat rooms for our guests. Having an endowment provides extra funding each year to cover increased costs.

What is a burse, and will there be named burses in the Perfect Fit Endowment?
A burse is simply an account that represents part of a larger endowment account which identifies specific gifts. At the discretion of the donor, any gift exceeding $5,000.00 qualifies for a named burse to be held within the endowment. The gift can be made in your own or a family name, (this is recommended) or as a memorial gift to honor a loved one, or as an anonymous gift. The $5,000.00 may be given over time.

Can we open a burse and continue to fund it at a later date?
Yes, absolutely, this is our hope, that once a burse is opened in the Perfect Fit Endowment, it will continue to be funded over time.

Is this a tax-deductible gift?
Your gift will be placed in the Perfect Fit Endowment in the Diocese of Crookston Catholic Community Foundation (CCF). The CCF is a 501(c)3 entity and has tax-exempt status with the IRS. We always recommend that you consult your own financial advisor before you make a gift to the Diocese of Crookston Catholic Community Foundation to establish tax deductibility.