Catholic Foundation Sets June 12 for Annual Golf Classic

OKLAHOMA CITY - The Catholic Foundation recently announced the 2006 date for its Annual Golf Classic benefiting the Catholic Schools Endowment. Now in its fifth year, the Catholic Foundation Golf Classic has returned in excess of $100,000 towards assuring affordable Catholic education for future generations. This year's Golf Classic will be held on Monday, June 12, 2006 at Twin Hills Golf and Country Club.

Archbishop Eusebius J. Beltran established the Catholic Schools Endowment with the vision of capping, reducing and some day eliminating the cost of all Catholic school tuitions in the Archdiocese of Oklahoma City.
                                                                  
                                                                           The Archbishop's Traveling Trophy.
 "Archbishop Beltran is very much committed to affordable Catholic education as evidenced by his annual $500,000 ADF Plus contribution to the schools of the Archdiocese," said Tom Casso, Executive Director of the Catholic Foundation.

The role of the Catholic Schools Endowment is to supplement and then replace the ADF Plus payments, so those funds could be free to support other Archdiocesan projects.

Eventually as the Catholic Schools Endowment grows, the income would be substantial enough to eliminate annual tuition increases - thus capping tuition costs. In time, through the generosity of the people of the Archdiocese, tuition costs could be reduced on an annual basis and some day completely done away with in the Archdiocese of Oklahoma City. Several diocese and archdiocese have been successful in accomplishing this achievement.

"With total Catholic school tuitions currently exceeding $12.5 million annually in the Archdiocese, the goal of building an endowment large enough to generate this kind of income is monumental," said Casso. "However, replacing the ADF Plus contributions and capping the need for annual tuition increases in the 3 to 5 percent  range is very achievable.

"This would require an endowment in the $14 to $15 million range." Currently, the Catholic Schools Endowment has a fund balance of just under $1 million.

"As more and more Catholics become aware of the need, I am confident that the size of the Catholic Schools Endowment will grow. Catholic education is too important for people not to respond generously when asked to provide for the next generation of Catholic men and women," said Casso.

To learn more about the Catholic Schools Endowment or participate in the 2006 Catholic Foundation Golf Classic contact Tom Casso at the Catholic Foundation of Oklahoma, Inc. (405) 721-4115 or tcasso@catharchdioceseokc.org.