Shortly after I became CFO of the Diocese of Belleville, Julius Capital and Immaculata Law Firm helped
design a solution to a critical problem we had with our Deposit & Loan Fund. At the time, our D&L Fund
had only had one loan in its portfolio, had money invested in the equity markets and had no church loan
prospects because the D&L Fund policy at that time was that the entire project cost needed to be financed by
the D&L. This policy precluded the D&L Fund from participating in multiple projects that had capital
requirements far in excess of the capacity of the Fund.

Julius Capital solved our problem by designing a creative bond structure (the unified credit facility) which
allowed the Diocese to participate in the financing of two new schools side-by-side with the banks. In this
arrangement, the D&L Fund could purchase public bonds as a “warm shelf” for subsequent re-sale to
parishioners to facilitate planned giving and balance sheet philanthropy.

We have now utilized the Julius Capital bond structure to build two new schools. This funding solution not
only allowed us to expand the net Asset position of the D&L Fund, but also allowed the parishes to begin
construction of their two schools far earlier than the banks would otherwise have permitted. This approach
saved the parishes time and money and also reduced debt service expense by allowing parishioners to
purchase bonds from the D&L Fund and “donate back” interest and/or principal to the parish.

This Julius Capital funding solution has been a valuable program for the Diocese.