The Triplett family has a long history at Saint Mary of the Immaculate Conception School. Triplett graduates from St. Mary include Ray Triplett (’69), Ray’s sisters Barbara (’62), Joan (’65) and Teri (’67) as well as Ray’s two children Sara (’98) and Colin (’00). “My experience [at St. Mary School] was a vital, formative part of my youth that has carried forward and affected my entire life,” said Ray who is still an active parishioner at St. Mary of the Immaculate Conception Parish.
Because of the significant impact of this Catholic education, Ray and his wife Susan named St. Mary School as a beneficiary of their Family Endowment. A Family Endowment is a permanent fund that is set up by a family. That family decides which organizations will receive annual grants from the endowment forever. Often, as is the case with the Triplett’s Family Endowment, these types of endowments are funded with a legacy gift after the donors’ lifetimes and don’t start granting until after the donors have passed away. “We’re participating and giving during our lifetimes and we wanted that to continue when we’re not here,” said Ray. The idea that you can remain a part of the communities that you love after your lifetime is very attractive for many donors who set up a Family Endowment.
Another great aspect of a Family Endowment is its permanence. “The finance committee at Saint Mary School could be having a meeting one hundred years from now, and they will receive substantial support from many different Family Endowments that were created in the past. And it will not only help them then, but it’ll encourage them to get involved and do the same thing,” notes Ray. Endowments grant from the investment gains, not the principal of the fund. They are set up this way so that they will grow and grant FOREVER. “We keep building on what other generations have done. We wanted to do our part and give back because we’ve benefited so much from what people before us did. Not only for us directly but in general,” said Ray. “We wanted, even when we’re not here, to continue supporting the organizations that supported us throughout our lifetimes.”
Learn more about Family Endowments here or contact us to learn more by calling 408.995.5219 or emailing info@cfoscc.org