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ANNUALREPORT2015-16
OUR MISSIONOur mission is to foster the continued success and enrichment of the Billings Catholic Schools, by providing and increasing an endowment and overseeing all fundraising efforts to ensure long and short term financial stability and support.
From the PresidentThank you. Your gifts have made and will continue to make a dif ference in the lives of hundreds of BCS students each year. Thanks to our donors, nearly one thousand students can learn in an environment where faith formation, family spirit and academic excellence are valued priorities. Your gifts make faith-based education possible for children whose families would otherwise be unable to afford this kind of instruction.
Our mission is to continue to foster the growth and success of the Billings Catholic Schools. Because of friends like you:
• Groundbreaking for the new St. Francis K-8 happened in April of 2016.
• The new school will be open for students in the fall of 2017.
• Established in 1973, the endowment fund has distributed more than 6 million dollars to the Billings Catholic Schools over the years. This money has provided student scholarships and operating dollars for the Billings Catholic Schools.
What a 21st century school means for our children:
• Increased security
• A technologically advanced learning environment
• Room for 25% student population growth
• Increased opportunity for individualized instruction
• Faith-based education to more children as our community expands
Our mission continues to drive us forward, and we will continue to work to raise the funds necessary to bring faith-based education to the children and families who seek it.
Every gift counts! Special thanks to our donors for making a dif ference in our student’s lives every day.
Sincerely,
Janyce HaiderJanyce HaiderBCSF President
Chart
2015-2016 Foundation Distribution to the Billings Catholic Schools $984,720.75
BACET Mayfair Porter Annual Fund Foundation
Annual Fund $35,147
Porter $200,000
Mayfair $277,438
BACET $442,337
Foundation $29,798.75
From the BCSF Board Chair
Thank you for your continued support of the Billings Catholic Schools Foundation. With the generous support of our donors, we are able to enrich the lives of hundreds of children each year.
The mission of the Billings Catholic Schools Foundation is to ensure financial stability and support for the Billings Catholic Schools. The Foundation Board of Directors is responsible for managing the endowment assets, which continue to grow. Since the inception of the endowment in 1973, through donor contributions, Mayfair, and the Annual Fund, the Foundation has been able to contribute over $6 million to help support the ongoing maintenance, annual operating budget, and funding of student scholarships.
The report you are about to review will detail where your donation dollars have made a dif ference in our schools. Our continued success is a result of an engaged Catholic community, our committed donors, parents, and students who choose to support a faith-based education.
It’s an exciting time for our Billings Catholic Schools in Billings! Through the generosity of our community and supporters, after years of planning and work, we are nearing completion of our new K-8 Catholic school. We’re pleased to unite our students, families and faculty into one facility for Kindergarten through 8th grade.
We thank you for your continued support of Billings Catholic Schools and our mission of providing an exceptional education.
Sincerely,
Debbie CharlesDebbie CharlesBCSF Board Chair 2016-2017
Providing Financial StabilityA strong endowment is the defining resource of an organization’s financial soundness. It provides stability and revenue critical for long-range planning and innovation. The endowment is comprised of gifts given with the stipulation that the principle will be permanently invested and a portion of the investment income will be expended to help finance school needs that tuition alone cannot satisfy.
The 20+ members making up the BCSF Board of Directors are committed to protecting the corpus of the endowment fund, being good stewards of the Foundation’s assets, and raising money that will ensure the continuation of Catholic education in Billings. A growing endowment will guarantee more scholarships for students and more funds available to help reduce tuition for families who dream of faith-based education for their children. Since 1975 the endowment alone (BACET) has distributed a total of nearly 6 million dollars to the Billings Catholic Schools.
In 2005, the Foundation was formed to encompass the endowment and serve as the philanthropic arm of the Billings Catholic Schools. Major fundraising is now handled by the Foundation, and the net dollars are then given to the schools. Between the endowment distribution, Mayfair, Annual Giving Campaign, grant writing and special events, the Foundation is responsible for supplying over 1 million dollars annually or nearly 18% of the school’s annual operating budget.
Chart
BACET Distribution to BCS
0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
Scholarship RecipientsThank Generous Donors
Established Endowment FundsGenerous donors have created a legacy of philanthropy by establishing the following endowment funds. Since the funds are held in perpetuity, current and future students will forever benefit from this thoughtful planning.
Barry Birkeland MemorialJeanette Merritt MemorialVicki Davidson Endowed FundDuffner Family ScholarshipGrant & Betty Gainan MemorialHeringer Family ScholarshipBernadette Martin MemorialSt. Vincent Healthcare Mission FundBob Smith Lincoln Mercury ScholarshipStockman Bank Endowed FundFirst Interstate BancSystem EndowmentJim & Rosemary Buckley MemorialClass of 1951Class of 1952Class of 1954Roma McGahan Memorial †Jim Thelen MemorialMonday Tafoya MemorialPatsy Topel MemorialMeta Buller Memorial Library FundBillings Gazette Endowment for
JournalismGunville Fund for – GolfGunville Fund for– SoccerHiram & Velma Ramirez MemorialJohn & Marie Tenge Religious
Education FundDon Christensen Endowed Fund †BCCHS Football Team of 1968 George & Kay Ulrickson Memorial †Francis W. Dixon Memorial †Dan Drake Memorial †Jim Fischer Memorial †Glennon Family ScholarshipMarynell Heringer Memorial †
Luke & Pat Keating Memorial †Katie Moran Memorial †Marietta Palmersheim Memorial †Ann Millikan Memorial †Pat Smith Memorial †Carl & Marietta Soukup Memorial †Marion Rose Stroebe Memorial †Geoff Fishbaugh Memorial †Jef frey Knudson Memorial †Paul Magers Memorial †Suzanne Studer Memorial †John & Roma McGahan Endowed FundFather Steve Tokarski Memorial †Doris Trefny Memorial †Nancy Trefny Memorial †Gilbert & Catherine Rhodes MemorialClass of 2011 & On-ward EndowmentHardy Family MemorialAugustine Family Endowed FundsSister Mary DepnerSister Valerie Endowed Funds †Winchell Family Memorial †Peter & Zellah Yegen Memorial †Fred & Olivia Briggs Memorial †Don Roberts Memorial †O’Reilly Endowment for the SciencesO’Reilly Endowment for the LanguagesSt. Pius Endowment
for Father Steve Tokarski †Noah Keller Memorial †Jeannie Glennon Memorial
† Student Specif ic Scholarships
Our PartnersThank you to all who have supported the Billings Catholic Schools Foundation through generous financial or in-kind gifts between July 1, 2015 – June 30, 2016.
Magic City Granite Co.
Bart Jagodzinski
Janelle Crowley
John & Dallas Pender
John Roberts
Fred Rausch
Mavis Thompson
Travis & Angela Kennedy
Jerry & Shanna Adolph
Dan & Glenda Anderson
Toby O’Rourke
William & Phyllis Ulrickson
Stephen & Patricia Ball
Dan & Julie Kirkpatrick
Deanna J. Thomas
Colleen Meglen
Centsable Accounting, Inc
Greg & Carly Goggins
Hartsook Companies
Jenny Jensen
Richard & M. Rosa Van Luchene
James & Paula Griffin
Kristin Spanjian
Jim & Janice Scott
Cindy Marble
Tom & Jean Jacques
Tory & Christine Roesch
John & Natalie Diekhans
Billings Oral Surgery
Billie Jo Meglen
Jason & Heather Mueller
Joseph & Brooke Rivera
Jeremy Stewart
KTVQ Television
Nathan & Andrea Klein
Ray & Rhonda Rigdon
Zach & Cara Waitman
Environmental Contractors LLC
Herminio & Digna Cabrera
Paul & Suzanne Odegaard
David Hoiness
Greg & Dee Dee Hilton
Odegaard Braukmann Law
James & Bonnie Swenson
Mark & Rita Sevier
Todd & Rita Brown
Stephen & Luann Hanser
Les & Judy Jensen
Travis & Kari Kale
Don & Carol Roberts
Todd & Maggie Vralsted
Bill & Robin Knopf
Jeff & Tricia Martin
Tom Lanciotti
Morgan Stanley
Bill & Barbara Hope
Brandon & Rachelle Busse
Donovan & Tricia Kelly
Scott Chesarek
John & Janie Reiland
Hulteng CCM, Inc.
Steve & Susie Loveless
Gary & Karen Breetz
Marvin & Associates
RC Refrigeration
Steven & Stephanie Bodden
Cottonwood Computers
Prime Staffing, LLC
Joey & Amy Godwin
Jennifer Andrus
Yegen Golf Club
Ferd & Rose Duchesneau
Glen & Dorothy Hertz
Jeff & Mandy Garaas
Paul A. & Jamie Miron
Ronald & Taubi Hecht
Steve Wahrlich
Ed & Elizabeth Greteman
David & Amanda Hill
Slots of Montana
Bruce & Helene Waage
Granite Health & Fitness
Weldon & LuAnn Birdwell
Northwestern Energy
Carina Lange
Tim & Shayla Mascarena
Pat & Sylvia Giblin
Lynnrich, Inc.
Scott & Janelle L. Hanser
Fred & Darcie Huppert
Our Partners continued...
Karell Dyre Haney PLLP
John Bohlinger
Bob & Betty Schuster
Tom Brown
Steven & Pauline Tostenrud
Montana Allergy
Jake & Emily Eaton
Intermountain Distributing Company
Nate & Jeannie Tracy
Dale & Kathy Rumph
Phillips 66
Mark & Kathleen Cohn
Joe & Lia Keller
Gainan’s Flowers
Billings Central High School Graduation Party
Daniel & Pamela Miller
Karen Johnson
Sisters of Charity of Leavenworth
Jeremy & Jessi Sawicki
Clark Marten Photography
Randy & Debbie Reger
Michael & Jacquelyn Ayers
Ron & Jeanne Bender
Dahl Funeral Chapels
Brian & Molly Harrington
Matthew & Hillary Schafer
Larry & Jan Hemmer
Florence Babe Goggins
Michael & Sherril Burke
Ric & Pam Heldt
Pierce Flooring & Design
Justin & Terri Balkenbush
Michelle Friend
Gene Lang & Meg Johnson
Shane & Tiffani Coleman
Chuck Gainan
Dale & Janyce Haider
Matthew & Michelle Braukmann
Jeffrey & Lucy Melugin
James & Elizabeth Ross
Crowley Fleck
Shaun & Kim Harrington
UBS Financial Services Inc.
Michael & Rochelle Stock
Turley Dental Care
Rod & Brittney Souza
Royal & Lynn Caraveau
Carroll College
Tom & Carmelita Scarborough
David & Nancy Rigg
Richard & Cheri Cox
Billings Clinic
HKM Engineering, Inc
Robert & Deborah Keenum
Kirk & Kathryn Johnson
Patrick O’Leary
Timothy & Sarah Friez
A & E Architects
Studer Construction
Bill & Michele Mattix
Tom J. Buller
Alphagraphics
Health & Marketing West
Tim & Mindy Brocopp
Econo Glass Company
Steve & Mary Bolender
Virgil & Dera Blanchard
TradePMR, Inc.
Nathan & Daria Haney
Richard & Linda Cebull
Ron & Amy Yates
Joe Glennon
Paul & Kara Button
Don & Sue Mueller
Diane Nelson
SM Energy
Roger Hermanson
Conlins Furniture
Stephen & Cary Knudson
David & Mary Susan Fishbaugh
Scott & Jennifer Dull
Janet Kirk
Eide Bailly Llp
E Z Money Check Cashing
Ken & Lorraine Tolliver
James & Laurie Elliott
BCSF Capital
Jay & Carol Zygmond
Paul & Patti Gunville
Rocky Mountain College
Maria Christiaens
ACT Heating & Cooling, Inc
Brian & Janette McGovern
Bruco Inc
Alan & Jean Fangsrud
Bob & Frances Ballantyne
360 Office Solutions
Joseph & Christina Apostol
Bi Concrete Design & Fabrication
Kevin & Jacinta Walsh
The Ziegler Family
Ryan & Molly Stevens
Our Partners continued...
Paul & Rhoda Byorth
Billings Alarm Company, Inc
James & Jennifer Mack
Stockman Bank
Carroll and Carole Nelson
George & Patty Selover
Jackline Cox
Carol Brosovich
Bruce & Darlene Ellis
Hanser’s Automotive
Steve & Lorinda Grosso
Bill & Karin Fitzgerald
Yellowstone Bank
Steve & Berni Kuhlmann
J. Mike & Diane Boyett
Stella’s Kitchen & Bakery
Helen Brach Foundation
MDU Resources Foundation
Thomas Kovacs
Chris & Shannon Newbury
Brock & Rebekah Williams
Mattress Land USA
McDonald’s Restaurants
Larry & Claire Chouinard
Robert & Mary Brown
Art & Janice Geiger
Jim & Sandy Almond
Andrew & Miranda Schmitt
Langlas and Associates, Inc.
Ralph & Sharon Hanser
Robert Jim & Mary Anne Nichols
Craig & Darcy Bartholomew
US Bank
Keith & Judy Lavachek
Robert & Elizabeth Wilmouth
Paul & Dona Hagen
Brian & Leslie Corcoran
Clayton & Erin Augustine
Jerry & Bobbi Sawicki
Jim & Christine Harris
Bernie & Lynn Harrington
John & Tracy Newbury
Ralph J. & Cemie Studer
Patrick & Sharon Newbury
William & Amy Brown
Matthew H. Thomas
Tim & Kathy Schruth
Sonja Fair
St Pius X Parish
Kenneth & Sheilah Frazier
Alan & Pamela Muskett
Patricia Roberts
Lawrence & Karen Klee
Patrick & Marilyn Hanley
The Sam & Judy McDonald Foundation
Jeremy & Monica Hauk
Mayfair Auction
St Vincent Hospital Mission Fund
Dick Trefny
Brian & Amy Cebull
Sisters Of Charity / Kansas
Brian & Mary Rah
Michael & Pam Heringer
St. Vincent Healthcare
Roscoe Steel & Culvert Company
Pete & Aggie Bitney
Roger & Nancy Beeter
Jim Ziggy & Stella Ziegler
Bucky & Geri Heringer
Ben & Joei Uselman
First Interstate Bancsystem Foundation
Anonymous
Patrick W. & Carla D. Cobb
First Interstate Bank
Daniel & Connie Merry
J.P. & Mary Kay Byorth
Jean McNally
Greg & Eileen McDonald
Rich & Sally Hall
St Vincent Healthcare
Bair Family Trust, Charles M
Nance Family Foundation Inc.
Ernie & Leanne Dutton
David & Debbie Charles
The Newbury Family
James & Kerry Vincent
Russ & Karen Fagg
Robert & Cindy Beers
Martin Family Foundation
James & Rita Turley
Roman Catholic Bishop / Gergen Trust
Joseph & Kathryn Rude
The Estate of David W. Walter
Robert & Penni Nance
Jim P. & Lin Roscoe
The Fortin Foundation of Florida
ALSAM Foundation
2015-2016 Board of Directors
Clayton Augustine
Mindi Brocopp
Bob Brown
Paul Byorth
Lynn Caraveau
Debbi Charles – Board Chair
Steve Cranston -Treasurer
Jessica Fehr - Vice Chair
Jeremy Hauk
Jared Harris
Tim Mascarena
John Newbury
Bill Mattix
Toby O’Rourke
Matt Schafer
Statements of Financial PositionJune 30, 2016 and 2015
AssetsCurrent Assets Cash and Cash Equivalents 291,211 132,490
Receivables Unconditional Promises to Give 1,585,784 1,226,543 Interest Receivable 29,679 39,549 Other Receivables 15,406 26,729
Total Current Assets 1,922,080 1,425,311
Property and Equipment (Net) 2,564,905 42,101
Investments 14,938,415 16,661,271
Other Investments 47,451 47,451
Bacet Realty, LLC 240,758 220,808
Beneficial Interest in Split-Interest Agreements 1,245,744 1,454,550
Cash Designated for Building Costs 4,601,715 2,409,643
Lont-Term Unconditional Promises to Give 1,409,863 2,999,248
Total Assets 26,971,021 25,257,473
Liabilities and Net AssetsCurrent Liabilities Accounts Payable 11,039 32,497 Accrued Expenses 11,961 11,568 Compensated Absences - 5,366
Total Current Liabilities 23,000 49,431
Deferred Gift Annuities 160,643 172,004
Total Liabilities 183,643 221,435
Net Assets Unrestricted 3,073,762 1,419,999 Temporarily Restricted 7,998,091 7,891,972 Permanently Restricted 15,715,525 15,724,067
Total Net Assets 26,787,378 25,036,038
Total Liabilities and Net Assets 26,971,021 25,257,473
6/30/2016 6/30/2015
A Monumental Year: During the 2015-2016 fiscal year the Billings Catholic Schools Foundation announced the groundbreaking of the new St. Francis K-8 School on the property located at Colton Boulevard and Woody Drive. After years of prayer and hard work, the Foundation and a team of dedicated volunteers and donors were able raise 12 million dollars to break ground on this wonderful project in April of 2016. With construction on time and on budget it was also announced the school will open August 2017.
The school will be new, but the values of the Catholic Schools will remain the same – to provide an education based on faith, family spirit, and academic excellence for its roughly 1000 students. This new school will address a long list of needs including the lack of classroom space due to increasing enrollment, increased safety measures, and the opportunity for state of the art technology. It will eliminate transporting students between buildings for extracurricular classes, be energy efficient, alleviate overcrowding, and provide the schools an opportunity for growth.
As we step into our new building in August of 2017 we bring with us a legacy of faith, family and support from our Billings community. Thank you to all the donors who have generously supported this monumental project.
w w w.billingscatholicschools.org