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St. Edmond, Holy Trinity receive gift

Mary Alice Coady estate leaves more than $350,000 to parish, school

May 15, 2013
By BRANDON L. SUMMERS (bsummers@messengernews.net) , Messenger News

St. Edmond Catholic Schools will receive $136,254 and Holy Trinity Parish $214,114 from the estate of longtime supporter Mary Alice Coady.

Tom Miklo, director of development, described the planned gift as "outstanding."

"These gifts are truly wonderful because they're planned, they're well thought out and we get such a great benefit when people do this," Miklo said. "It's how we build out endowment, both church and parish."

Monsignor Kevin McCoy praised Coady for her foresight in preparing the bequest, as well as her service.

"She saw the works of the church and the school do great things to form our future leaders, our children," McCoy said. "The gift she's made here and thought about, it was for a specific purpose, to be able to ensure that formational ministry that is so much a part of what our Catholic Church is about, whether it be our religious education program or the formal programs we provide here at St. Edmond."

McCoy said they are grateful for the gift of more than $350,000.

"Mary Alice did a great service for the church by helping to assure and insure that is a ministry that can continue for years to come," he said.

Coady passed away in 2004. Her estate, left in a trust, first benefited a relative.

"One of the unique things about her plan was she actually left her estate and trust for a relative to get the proceeds from while that relative was alive," Miklo said. "When that relative passed, the bulk came to Holy Trinity and St. Edmond. Really some excellent planning, because not only is she helping school and parish, she helped a relative for quite a number of years."

Holy Trinity Parish and St. Edmond are able to operate because of such bequests and donations, Miklo said.

"We build up both endowments," he said. "That's why these are the ultimate gifts. They keep on giving. And people plan this. This is for the future. It's a way to ensure your legacy and support will go on for future use, for generations to come."

According to McCoy, the programs offered by the church and its school and its operation are made possible from such parishioner support.

"Obviously we do a lot of fundraising for the school and depend upon parishioner support just to be able to pay our ongoing operating costs, but a gift like Mary Alice's, really it doesn't get consumed by the day-to-day expenses," he said. "It goes, sits, earns so it can help contribute to pay for those expenses, but that gift never goes away. The assets remain, in essence, in trust, in the endowment, and continues to work not only today, but well into the future for the works of the church and St. Edmond."

He added, "We're grateful for that."

Miklo said he's personally always grateful for such lasting gifts.

"This is the ultimate gift. For donors, this is the last thing they do, the last gift they give," he said. "It just always makes me feel extremely appreciative when someone does this, and we just always like to encourage people to consider not only our organization, but any organization that made a difference in their life. Leave them a bequest."

 
 

 

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