As we begin a new year and leave another difficult one behind us, we at St. Nicholas Eparchy and the Stewardship and Development Office are full of determination and hope for a successful and safe year for all of us, and we pray to God for the strength to fulfill our ambitious plans.
First and foremost, we are grateful to all our donors for the support thus far for the Capital Campaign. Thanks to you we were able to complete two major phases of the St. Nicholas Cathedral restoration, and to establish the St. Nicholas Foundation to better administer Eparchial programs and better support our parishes in need. In 2022, the Stewardship and Development Office will continue its critically important fundraising work and continue communicating with you to update you on our Capital Campaign, the Share Annual Appeal, and other important Eparchial initiatives.
While we believe all our initiatives and goals are important, there continues to be great urgency now to address and complete the Cathedral restoration. As you probably know, the Cathedral has experienced very serious infrastructure damage over the years, which poses significant risks to its future and to the safety of its parishioners. While the Cathedral’s restoration is well underway, and over $3 million has already been raised, there is still considerable work to be done. We are now preparing to address the central and largest part of the Cathedral, which includes replacing the large central dome and the 8 remaining smaller domes. We estimate that $2.8 million of additional funds will be needed to complete the restoration.
We would like to bring you up to date on two very productive programs that can help facilitate your contribution to the Cathedral restoration. One of them is the Cathedral Dome and Cross Naming Opportunities Program that has been very enthusiastically received by our community (see enclosed flyer). This initiative provides you an opportunity to commemorate or honor your loved ones by sponsoring one of the 4 remaining Cathedral domes and in so doing leaving a lasting memorial atop one of the most prominent edifices of the Ukrainian Catholic Community in America.
Another opportunity for your support is to participate in the matching funds program. You may recall from our last letter that anonymous donors put in place a matching funds program for the Campaign, which means your contribution can help us earn an extra $250,000 donation by raising $500,000 (in non-Naming Opportunity donations) between now and April 2023. This program is now also well underway, and we have already raised an impressive $261,000 toward our $500,000 target amount.
And finally, we’d also like to apprise you on the recent establishment of the St. Nicholas Eparchy Foundation. The mission of this Foundation is “to help support the parishes, missions, monasteries, and ministries of St. Nicholas Ukrainian Catholic Eparchy by promoting compassionate charitable giving and stewardship”. The Foundation has been seeded with $100,000 from the Capital Campaign and functions under the 501 (c) (3) IRS status and has a separate EIN number. To facilitate the donation of stocks and other investments toward our parishes and new ministries through the Foundation, we have also established a brokerage account at Charles Schwab Corporation. Please feel free to contact us to learn more about how to make tax-advantaged donations
We thank all of you in advance for your consideration, for your generosity, and for your prayers. With the grace of God and your continued support, we will accomplish what needs to be done. If you have any questions or wish to discuss any of the above-mentioned programs, please call @ 773-276-5080 or email us.