A $100,000 challenge gift has been received to raise money for the diocesan Seminarian Education Endowment Fund (SEEF). Each gift up to $100,000 will be matched.
The Arlington diocese invests more than $45,000 per seminarian for training and formation every year. There are 49 diocesan seminarians studying for the priesthood currently.
Bob and Laura Coleman, sponsors of the challenge gift, funded SEEF 10 years ago with an initial gift of $250,000. This fund has grown to more than $2.5 million.
For each $1 million invested, enough income is generated to pay for the priestly education of one seminarian per year in perpetuity. The goal is to eventually pay for the annual education of every seminarian.
As a permanently restricted endowment fund, the principal is held in perpetuity while 4 percent of the annual earnings are available for distribution. This year SEEF made its third annual distribution, this one for $62,000, which was given to the Office of Vocations.
Find out more
Go to arlingtondiocese.org/the-foundation/financially-support-seminarian-education.
