New endowments benefit Utah’s Catholic students and the cathedral

Friday, Aug. 01, 2025

SALT LAKE CITY — Five recently created endowments have brought attention to the Catholic Foundation of Utah, which “has been the conduit between generous donors and grateful beneficiaries for over 40 years,” said Nevah Stevenson, executive director of the non-profit.

When the CFU was established in 1984, its purpose was “to meet the needs of the Catholic community, both in short-range emergency funds and in long-range support for the total diocese,” said Lew Joseph, who was the first executive director.

The Most Rev. William K. Weigand, who was then Bishop of Salt Lake City, and Bishop Joseph L. Federal, Bishop emeritus, were among the members of the inaugural CFU board of trustees.  A consultative board serves the CFU; the investments are monitored by an investment committee that works with professional money managers “to maintain a diversified portfolio typically composed of approximately 60% equities and 40% fixed income instruments,” according to the CFU webpage on the Diocese of Salt Lake City website. 

Today, the CFU manages more than 450 endowments that benefit parishes, missions and schools in the diocese as well as programs such as youth ministry and seminarian education. The acting bishop serves as chairman of the CFU Board.   

Endowments, which may be created to benefit any entity or ministry in the diocese, require a minimum initial investment of $10,000. Once an endowment is created, donations of any amount may be contributed. The money is invested, and a percentage of the interest earned on the investment is distributed annually to the beneficiaries.

The creator of the endowment selects the beneficiary. These can range from specific entities such as those already mentioned to wider concerns such as financial support for emergency project needs. 

“The one common thread is that all donors are passionate about making a difference in some way to the future of the Catholic Community in Utah,” states the CFU webpage.

The most recently created endowments follow. Donations to them or to any endowment within the Catholic Foundation of Utah can be made online at dioslc.org/foundation, by stock transfer or by check made out to the Catholic Foundation of Utah, 27 C St., SLC 84103.

The John Colosimo Memorial Endowment will provide financial support to students in need at Juan Diego Catholic High School and Judge Memorial Catholic High School. John Colosimo, who died July 9, taught at both schools. He helped establish the Skaggs Catholic Center, which includes JDCHS, and served as the school’s first assistant principal and head football coach.

The Father Martin Diaz Endowment was established to provide financial support for the preservation of the Cathedral of the Madeleine. The Very Rev. Martin Diaz, who retired effective Aug. 1, ministered for 21 years in the Diocese of Salt Lake City. He was named rector of the cathedral in 2013 and retired from that position.

The Mark and Tina Longe Endowment in Honor of Their Children Ryan, Sarah and Jeremy was established to provide tuition assistance for low-income students at Saint Vincent de Paul Catholic School. Mark Longe, who is retiring as superintendent of Utah Catholic Schools, served as principal of St. Vincent’s before taking his current position.  

The Diocesan 1875 Tuition Assistance Scholarship Endowment and the Diocesan 1875 Undergraduate Scholarship Endowment were named in recognition of Saint Mary’s Academy, the first Catholic school that was established in Salt Lake City in 1875. Both of these endowments were established by the Sam and Aline Skaggs Charitable Remainder Unitrust.

To contribute to an existing endowment, or to establish one, visit the Catholic Foundation of Utah at https://www.dioslc.org/foundation or contact the CFU office at 801-456-9306.