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Welcome!
What
is The Catholic Foundation?
The Catholic Foundation is an umbrella endowment
trust fund established in
1987 by Bishop O'Neill. Parishes, schools and diocesan agencies may
establish endowment accounts with The Catholic Foundation. This
endowment trust fund accepts gifts whose principal (corpus) remains
untouched for perpetuity, but allows for the distribution of earnings. The
Catholic Foundation also accepts gifts from individuals through
Donor Advised Funds. The individual donor makes a tax deductible contribution
to The Catholic Foundation and then he/she (or their
appointed advisor) can periodically suggest charities to receive distributions. The Foundation offers two types of Donor Advised Funds:
Endowed (with distributions of earnings only) and Provisional (distributions
can include both
earnings and the original gift(s)).
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Why was The Catholic Foundation established?
Motivated by good stewardship practices, The Catholic
Foundation
provides the individual participants
(accounts) the advantages of more favorable diversified investment strategies available
to pooled funds, and documented accountability, while avoiding
duplication of legal and administrative costs.
Where do the endowment funds come from?
The best source for endowment funds is from
Planned Gifts. Planned Gifts include:
Bequests through Wills, Charitable Gift Annuities, Charitable Remainder
and Lead Trusts, Life Insurance instruments, and Retained Life Estates,
to name a few. Because of favorable governmental regulations for these
planned gifts, significant tax advantages are available to interested
parishioners with charitable intentions.
How do I leave my parish a gift in my
will?
We invite you to download the document:
Suggested Wording to Name
Your Parish in Your Will or Trust.
Will the Catholic
Foundation accept a non-cash gift to benefit my parish or organization?
We have established a
Gift Acceptance
Policy to protect the donor, the parish or organization, the Foundation
and the Diocese. If you have question about a non-cash gift, please consult our policy or give us a call.
Accepting gifts of real estate is more complicated. If you are considering a
gift of real estate, please consult our
Real Estate
Acceptance Policy.
Who manages The Catholic Foundation?
The Catholic Foundation is managed by a voluntary
Board of
Directors representing many professional fields of expertise and areas
of the Diocese. As President of The Catholic Foundation, the Bishop
appoints the Board of Directors. The day-to-day management team includes
the Executive Director, provided by the Office of Stewardship
Development, the services of the Diocesan Accounting and Data Processing
Office, Investment
Managers for each Fund
and our Investment
Consultants.
How are the endowment funds invested?
Participants select from three options depending upon their
investment needs and objectives. The three investment options are: The
Growth Fund, The Income Fund, and The
Balanced Fund. The three funds
cover the spectrum of long term, short term, and intermediate investment
strategies for capital growth and income. All participant funds are
invested in accord with our
Catholic Values Investment Policy.
How are the earnings distributed?
All participant account earnings may be: 1) annually withdrawn; 2) accumulated as
retained earnings for later withdrawal; or 3) returned in part or whole
to the principal (corpus). The original principal (corpus) plus the
other permanent contributions cannot be withdrawn. Donor Advised Fund
distributions can be made at any time, subject to the agreement terms.
Why should you become a participant in The Catholic
Foundation?
Many donors prefer to perpetuate their gifts through an
endowment program, providing a perpetual source of earnings income for their most
cherished organizations and intentions. Individuals might prefer,
through Donor Advised Funds, the ability to provide
for periodic distributions of both earnings and their original gift(s) to
their favorite non-profit organizations. Organizational participants of The Catholic Foundation
publicly position their
parish or school in the minds of
parishioners for such gifts.
Would you like to know more about The
Catholic Foundation?
Contact Us |
