d: Our Lady of Mount Carmel Designated Funds

Please see attached letter from Frank Cardell to Father Benny Prado. September 13, 2017 Father Benny Your September 10th bulletin was a very good start. I would like to help you create a Saint Teresa of Calcutta that is strong both religiously and sound financially. Please feel free to contact me if you will accept my help. To start you should have received or will receive a check made payable to Our Lady of Mount Carmel Church (OLMC) for about $2,000 from Buckeye Petroleum, these are restricted fund that are to be used to repair or replace the heating system or air conditioner system at OLMC. This is from an endowment I setup with one of our parishioners about 10 years ago. She donated 2,000 units of Buckeye Petroleum to OLMC to be used only for the above mentioned items. At the time the value of the units was about $46,000, I held the units in the name of OLMC which they still are. The units yielded about 8% a year which we used for their designated purpose. Father Tony oversaw and approved everything I did. The units are now worth about $113,000. The donor Aline Beauchamp did very well tax wise on this transaction. I might add that in the 80’s I owned and ran one of the top 25 Financial Planning Companies in the country. At you convenience please give me a call and I will discuss this in further detail. I believe some people wanted you to hire me for financial matters, please be advised that I will help you for the sake of OLMC and St. Teresa of Calcutta Parish, but I am not looking for position with Saint Teresa of Calcutta. I am in the process of starting another company. I will be sending you other ideas we used at OLMC to be profitable in the future I hope they help you. May god bless you Frank Cardell 973-981-8831 Cc: Father Graff