What Our Clients Say About Us

Regis Jesuit High School

In June of 2022, we closed on $38,500,000 of tax-exempt bonds that were a mixture of refinancing current bonds and new financing in support of a new Science & Innovation Center for our campus.  We used Julius Capital and Immaculata Law Firm at several different points in our process and they took a leadership role serving as the bond counsel for this transaction.

ImmacuLaw was very helpful in gathering the bankers, attorneys, and separate entities together on this project where many of us had never worked with each other.  The firm always took the initiative on driving the process and ensuring the aggressive timeline was being met.  They were able to hold each party accountable for their specific deliverables in a very professional manner.  The team knew the touch points that could be problematic and that could put the transaction timeline at risk if there wasn’t special attention made to a resolution during our calls. 

It was a great experience working with the ImmacuLaw team and getting to know them closely through our loan closing.  Julius Capital and ImmacuLaw gave us confidence with their thorough approach to every part of the transaction.  I cannot imagine using anyone else for our future financing needs and will promote their services to our peers

Tom Dobbins

Chief Financial Officer, Regis Jesuit High School

Diocese of Austin

In April of 2020, we redeemed $70,000,000 of tax-exempt bonds, originally issued by the Diocese in 2010 at higher interest rates.  We replaced them with two new bond issuances at much lower interest rates and also entered into a line of credit in a new banking relationship.  We used Julius Capital and Immaculata Law Firm to represent us in these transactions.  

 Julius Capital provided analytical tools and knowledge of the capital markets that helped us develop creative solutions to meet our needs, now and into the future.  

 ImmacuLaw served as bond counsel for our bond transactions, including secured and unsecured general obligation bonds, and tax-exempt school bonds. ImmacuLaw worked with us to create flexible bond financing that can be used to raise additional capital in the future when needed by facilitating planned giving and balance sheet philanthropy.   Working with new bankers and their attorneys in an uncertain and unpredictable financial market created by a pandemic was no easy feat.  Despite these obstacles, Michael Schierl and his team brought the financial and legal expertise to close these transactions on schedule and on budget.  Their knowledge of financing structures, contractual law, canon law and practical understanding of how the church operates were indispensable.  

We are very grateful for their expertise and assistance in completing these transactions, particularly during these turbulent market conditions.  Julius Capital and ImmacuLaw were easy to work with, thorough and responsive.  They will be our first call when contemplating creative financial solutions as our needs change and I would recommend them to any of my fellow Fiscal Officers.

Mary Beth Koenig | [email protected]

Chief Financial Officer, Diocese of Austin

Advancement Foundation Catholic Diocese of Fort Worth

Since June of 2020, Julius Capital and Immaculata Law Firm have been tremendous partners to the Advancement Foundation for the Catholic Diocese of Fort Worth.

Most notably, their support has included helping raise $20,000,000 in bond funding spread across numerous transactions. Julius Capital and ImmacuLaw employ a targeted approach to each transaction that ensures financial solutions are catered to our specific needs. From project inception to financial close, Mr. Schierl and team served as the financing lead and assumed responsibilities that extend well beyond their stated role as “financial consultant” and “bond counsel”. We have repeatedly turned to JC/ILF for a multitude of needs including project finance transactions, re-financings and strategic acquisitions.

In addition to ImmacuLaw’s role as bond counsel for our financing transactions, the Advancement Foundation has continuously turned to ImmacuLaw for general legal services. In this capacity, ImmacuLaw has supported the Foundation on items including organizational bylaws, entity formation, governance, tax and UBTI matters, and private transactions related to Foundation investment accounts.

Julius Capital, in addition to their financial consulting services, has a robust real estate transaction advisory practice which has become our “go-to” for real estate advice, thought leadership, and execution. The JC team has a wide variety of experience in real estate including financing, new developments, acquisitions, and ground leasing. They have been instrumental in advising us through supportive financial modeling and analysis, transaction structuring, and negotiations. I highly recommend nonprofits use Julius Capital for any and all of their real estate needs.

The Julius Capital and ImmacuLaw teams bring years of experience to bear in direct support of the Advancement Foundation’s mission. We certainly could not have executed on our own strategic vision without their diligent support. We look forward to our continued relationship with Julius Capital and ImmacuLaw.

Clint Weber | [email protected]

President & CEO, Advancement Foundation Catholic Diocese of Fort Worth

Diocese of Phoenix

In June of 2020, we closed our latest bond issuance using Julius Capital and Immaculata Law Firm, a $25,000,000 general obligation bond. This was the 16th transaction they have helped us consummate over the last eleven years.

Julius Capital has served as a terrific partner to our diocesan finance staff. Their analytical tools and knowledge of the capital markets have really added to the ability of our staff to creatively meet the financial needs of a growing diocese.  Julius Capital provided pivotal assistance in 2015 by helping us design a funding solution to replace our deposit and loan program with a $35,000,000 general obligation bond financing.

ImmacuLaw has served as bond counsel for our bond transactions, including secured and unsecured general obligation bonds, tax exempt school bonds, and taxable mortgage bonds. If bond financing is appropriate for a particular financial need, ImmacuLaw works creatively with us to determine what structure will best meet our requirements.  ImmacuLaw has consistently helped us close these transactions on schedule and without drama.

Joe Anderson | [email protected]

Chief Financial Officer, Diocese of Phoenix

FOCUS (Fellowship of Catholic University Students)

Julius Capital and Immaculata Law Firm have been trusted financial and legal advisors to FOCUS since they helped us to establish our “unified credit facility” in 2019. Under the credit facility, we have thus far successfully raised nearly $9,000,000 via donor-friendly bond offerings. The Julius Capital team was instrumental in helping us project our cash flows, creating a sophisticated financial model to project our ability to service our bond debt service, and designing our own custom credit facility. The Immaculaw legal team did a tremendous job structuring our credit facility, negotiating waivers from our other lenders, drafting our bond prospectus and representing us in closing multiple tranches of bonds under our facility.]

Julius Capital and ImmacuLaw are leaders in designing creative funding solutions for Catholic nonprofit organizations. The Julius Capital team gives us access to financial experts with sophisticated financial modeling skills, a breadth of transaction experience, and deep knowledge of the capital markets. The ImmacuLaw team gives us access to corporate finance transaction attorneys of the highest calibre.

We continue to leverage our relationship with Julius Capital and ImmacuLaw by seeking their advice and counsel on varying corporate and financial matters at FOCUS. Whether it is designing a new financing, assessing a tax-favored donor giving option or providing advice about potential new entity formation, Julius Capital and ImmacuLaw are always there to assist us. I heartily recommend Michael Schierl and his team of financial consultants and attorneys to all of my peers in the nonprofit community.

Drew Marsh | [email protected]

Vice President of Finance, FOCUS

Archdiocese of Dubuque

For more than a decade, Julius Capital and Immaculata Law Firm have provided the Archdiocese of Dubuque with outstanding financial and legal services for a wide-ranging set of financial transactions.

Michael Schierl and his seasoned team of attorneys and consultants have provided expert and creative service in helping us complete several bond financing transactions, to structure, form and obtain IRS tax-exempt status for our Catholic Foundation of the Archdiocese of Dubuque and to structure and form our Alternatives Fund, LP which operates within our existing Archdiocesan endowment.  We rely on Julius Capital and ImmacuLaw for quick and creative responses to a wide range of financial issues as they arise, such their recent assistance in preparing a summary of the Paycheck Protection Program that I shared with all of our Parishes in order to enable them to quickly take advantage of that program. 

Michael Schierl and his team bring together legal and financial expertise, an understanding of canon law and a practical knowledge of how the church operates, in order to provide the Archdiocese of Dubuque with solid and creative financial solutions to our ever-changing needs.  I would heartily recommend Julius Capital and ImmacuLaw to each of my fellow Finance Officers.

Rick Runde

Financial Officer, Archdiocese of Dubuque

St. John’s Northwestern Leadership Academies

We have been working with Julius Capital since late 2018.  Initially, our goal was to assess the viability of a private/public bond offering to support operations with ultimate repayment tied to a healthy pipeline of estate gifts.  The relationship developed into a much more robust multi-phased project intended to enhance our fundraising, provide needed liquidity and set us up with access to capital for the long term.

Key elements of this project include:

  • Assisting us in improving our fundraising efforts
  • Release of previously restricted gifts to support current operations
  • Sourcing a critically important PPP loan during our pandemic shutdown
  • Exploring the monetization of our real estate assets
  • Securing a bridge financing solution to a larger real estate related liquidity event
  • Launching a longer term planned giving campaign
  • Preparing for a bond offering by mid-2021
  • Providing a bridge solution to the funding of the 2021 bond offering

Michael Schierl and his team have worked well with our organization in many supportive and creative ways.  It is highly unusual to run into an experienced Wall Street attorney who is also very adept at both detailed financial modeling and higher-level creative structuring. 

We could not be more pleased with the service received and relationship we have developed with Julius Capital and its sister company, Immaculata Law Firm.

Tom Stocks | [email protected]

President, St. John's Northwestern Leadership Academies

Foundation for Senior Living

For more than a decade, Immaculata Law Firm has been FSL’s preferred legal counsel for all of our bond financing transactions and Julius Capital has provided expert financial analysis.  Michael Schierl and his all-star team of attorneys and consultants are easy to work with, quick, knowledgeable, responsive, and very thorough. 

Julius Capital and ImmacuLaw have imagined and implemented several new financial structures and instruments that have enabled us to creatively finance our mission, which is ever-evolving to meet the community’s needs.  Over the years, they have helped us design and close more than a dozen financing transactions, including several affordable housing/tax-credit bond deals, rated and unrated transactions, a headquarters refinancing, real estate acquisition and solar projects. 

The partnership between ImmacuLaw, Julius Capital and FSL has worked well over the years and we look forward to working with them for decades to come.

Steve Hastings | [email protected]

Chief of Real Estate Services, Foundation for Senior LIving

Diocese of Belleville

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 D&L 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.

Mike Gibbons | [email protected]

Chief Financial Officer, Diocese of Belleville