Update: Information on Legacy Endowment Investments

Greetings friends, supporters and donors,

After reading an article in the U-T San Diego mentioning St. Madeleine Sophie’s Center, I felt compelled to contact you to inform you of additional information that may have been misinterpreted in the article.

Today, U-T San Diego posted an article about local non-profit organizations that reported losses due to theft. St. Madeleine Sophie’s Center was unfortunately mentioned as an organization that lost money “due to investments.”

The investment referenced here is a $3 million donation that was left to St. Madeleine Sophie’s Center by a private donor and managed by the Legacy Endowment Fund of North County. Due to the terms of the trust and Internal Revenue requirements, St. Madeleine Sophie’s Center reported the  unrealized loss of investment in 2008.

2008 was a year in which the stock market, overall, faced severe declines. These issues unfortunately impacted many investment funds for non- and for-profit companies.

St. Madeleine Sophie’s Center has had no losses due to theft.

Since 2008, the fund has recovered most of the decline in investment value. St. Madeleine Sophie’s Center receives about $100,000 annually from this fund to support the operation of our programs.

All of St. Madeleine Sophie’s Center’s donations and investments are reported in our profit and loss statements, which can be made available to you at any time. We are confident in our investment decisions and are grateful for your continued donations and support.

If anyone has questions or would like additional information, please contact the center at 619.442.5129 or dturner@stmsc.org.

Thank you,

-Debra Turner-Emerson, Chief Executive Officer, St. Madeleine Sophie’s Center

UT: Charity Explains Unrealized Loss

SMS Auxiliary Presents: Brunch On The Bay, and Concert for a Cause

Brunch On The Bay, ‘Paradise Awaits You’

Golden Swan - Lisa Spencer

Honoree: Debra Emerson, CEO SMSC

Sunday, October 20, 2013
11:00 am—2:00 pm
Catamaran Resort & Spa, 3999 Mission Boulevard, San Diego
Ticket price: $75 per person
Tables of 10 or 12 are available
Complimentary Self Parking

 

Enjoy a fun-filled day with…….. A silent auction, an opportunity drawing, a scrumptious brunch, a special honoring program, a bazaar, and Concert for the Cause, “Helping Adults with Developmental Disabilities”. All funds raised will benefit the students of St. Madeleine Sophie’s Center!

For questions contact Judy Klareich at 619-562-2709 or JKlareich@att.net

 

Concert for a Cause, Helping Adults with Disabilities

Sunday, October 20, 2013
2:00 am—5:00 pm
Catamaran Resort & Spa, 3999 Mission Boulevard, San Diego
Ticket price: $10 per person

Music by Groove Mercenaries

The name is “Groove Mercenaries”. We’re a group of musicians who, collectively, have many, many years of experience in the local San Diego music scene. We’ve all been sidemen and “hired guns” for more than a few local bands, hence the name. We’ve come together for the music. Many years ago, the saying was, “It don’t mean a thing if it ain’t got that swing!” Our motto is, “It won’t make you move if it ain’t got the groove. Concert tickets are included in the price of the Brunch. If you cannot attend the Brunch but would like to attend the concert, tickets are available for $10.00 per person.

For questions contact Judy Klareich at 619-562-2709 or JKlareich@att.net

New Website

Welcome to our newly redesigned website!

We hope that you will be able to easily find what you are looking for and will enjoy looking at all of the programs and news that we have available. If you have any questions or concerns about the new website, contact nfullerton@stmsc.org