Endowment

Click this image for the 'La Paloma' campaign video.

Endowment

The Episcopal Diocese of the Dominican Republic places a strong emphasis on stewardship and the support that comes from its own institutions such as schools. However, those funds are not sufficient to support the diocese’s ministries. With the assistance of the Dominican Development Group, the diocese has established an endowment fund that had a net worth of US$9,462,516 (RD$444,738,256) as of October 31, 2017. In Spanish, that endowment fund is known as El Fondo de Autosuficiencia (FOCA). For a copy of the most recent FOCA accounting statement, click here.

With the support from the Dominican Development Group and mission companions across the United States, coupled with support from The Episcopal Church’s Mark II self-sufficiency grant program, the Episcopal Diocese of the Dominican Republic is projecting that in 2018 it will be capable of self-funding its operations for the first time in its more than 100-year history. This has all been achieved while the diocese has experienced a dramatic growth and expansion of the ministries in communities across the diocese.

2017 marked the 13th year since the establishment of the Dominican diocese’s Endowment Fund or FOCA (Fondo de Autosuficiencia) in 2004. Under the leadership of Bishop Julio Holguin (retired) and the Dominican Episcopal bank officers and clergy in charge of the fund, the diocese has realized significant gains in this Endowment, which after receiving the donations from the La Paloma campaign had a value of approximately US$9,752,000 as of November 1, 2017. The annual proceeds from this Endowment are currently funding more than 60% of the diocesan budget.

Click this image for more information
about the 'La Paloma' campaign.

The Dominican Development Group launched the La Paloma Endowment campaign in February 2017, and set a goal of raising the endowment to US$10 million. This campaign focused on the November 1st retirement of Bishop Holguin and his legacy as diocesan bishop for more than 26 years, and aimed to provide a solid base for Bishop Moisés Quesada to begin his service as diocesan bishop. As of November 6, 2017, the campaign has raised over US$290,000. We are now less than US$248,000 from reaching our goal of having US$10,000,000 invested in the endowment. We are continuing the campaign through the end of December 2017 in hopes of completing our goal. To make a donation (thank you!), click here.

For more information on supporting this endowment project, please contact the Rev. Edward Miller [(703) 356-4902 | Emiller@stjohnsmclean.org] or DDG Executive Director Bill Kunkle [(813) 400-2722 | [bkunkle@dominicandevelopmentgroup.org].