Gulf Pine Catholic

4 Gulf Pine Catholic • June 1, 2018 K nights of C olumbus Diocese of Biloxi Catholic Foundation Update BY TED LONGO There have been questions concerning how the Diocese Foundation is doing given the current volatility in this mar- ket. So how are the trusts performing? The volatility has really only been in 2018. The Diocese Foundation fiscal year runs from July 1 to June 30. With that in mind, the first half returns, ending December 31, 2017, were 7.31% on the Perpetual Trusts and .62% for the Non-Perpetual Trusts. The Perpetual Trusts returns from July 1, 2017, thru the end of March was 7.74%. So although the investments in our Foundation have been affected by the volatility this year the returns are still positive not only for the first three quarters of the fiscal year but for the first quarter of 2018 as well. For the Non-Perpetual Trusts, the returns have to be more stable because these funds need to be available upon request as needed by the beneficiaries. This strategy results in lower returns than the Perpetual Trusts but insures that the funds are there when needed. Through March 2018, these returns were up .8872%. We are generally happy with these returns and will continue to manage the funds entrusted to The Foundation for not only returns but risk as well. On the Perpetual Trusts do these returns get paid out to the beneficiaries? No, they do not. The Board decided several years ago to payout 5% of the average balance for the previous 60 months. (Some trusts have special instruc- tions to be handled differently but the majority are distributed in this way). This strategy allows for a more consistent payout to the Beneficiaries and allows for better budgeting. It also allows for the opportunity to keep up with inflation over time. Ted Longo, CFP®, CIMA, ChFC, is the chairman of the Catholic Foundation. Longo Ocean Springs 4th Degree Knights of Columbus (Assembly 2059) held a Flag Retirement Ceremony on the Tuesday, May 15, on the school playground. Old and worn-out American flags aren't simply thrown away. They are collected all year, handled with honor and destroyed by fire. Ceremonies were conducted by Sir Knight Skip Murphy, S.K. Chuck Nannery, and S.K. Ken Gonzalas. At left, Sir Knights Carl Brochard and Leonard Tarrant are pictured retiring flags while the school children sang. Ocean Springs Knights of Columbus, Assembly 2059 Las Misas Celebradas en Español/ Masses Celebrated in Spanish Sábado/Saturday Pascagoula: Sacred Heart Parish, 6 p.m. Domingo/Sunday Laurel: Immaculate Conception Parish, 4 p.m. Hattiesburg: Sacred Heart Parish, 1:30 p.m. Ocean Springs: St. Alphonsus Parish, 2 p.m. Picayune: St. Charles Borromeo Parish, 11:30 a.m. Gulfport: St. John the Evangelist Parish, 2 p.m. Lunes/Monday Biloxi: Our Lady of Fatima Parish, 6 p.m. LIVING WORDS: SCRIPTURE AND TRADITION: Archived episodes of Fr. Joe Dilettuso’s television program can be viewed on the Catholic Diocese of Biloxi’s YouTube page. Currently featured is an 11-part series on The Ten Commandments. We will continue to add additional episodes of this program in the future. A link to the YouTube page is also available at biloxidiocese.org Fr. Dilettuso