The Catholic Foundation



	Catholic Foundation News Planned Giving Tip We encourage you to promote Wills to your parishioners. This is the best way to get them thinking of providing for their families: biological and Church. The next Catholic Foundation Board Meeting is scheduled for August 21, 2008 at the Diocesan Administration Building
New Donor Advised Funds Available ROCKFORD, IL - The Catholic Foundation is offering something new for people who want to make a contribution now and decide in the future who will receive their gift. The new Donor Advised Funds were approved at The Catholic Foundation board meeting on February 21, 2008. These funds allow individuals to make a single contribution of $10,000 or more to The Catholic Foundation in either an endowed account (interest and earnings can be distributed) or a provisional account (the principal can also be distributed). The donor chooses from income, balanced or growth funds for the donation investment. At a future time of his/her choice, the donor recommends one or more charities to receive all or part of the fund. The donor’s recommended non-profit recipient(s) must follow the moral teachings of the Catholic Church. “Otherwise, we hope to follow the recommendations of the donor,” says Greg Urban, director of planned giving. The idea behind this new kind of fund, he adds, is to begin a relationship between the donor and The Catholic Foundation, perhaps leading a donor to remember his/her parish or the diocese in their estate plan. A minimum donation of $10,000 can open an account. An account balance of $1,000 must be maintained in the account, or the entire principal in a provisional account may be recommended by the donor for distribution and the account closed. The minimum recommendation for distribution is $250. So, who might be interested in this type of fund? Urban mentions one possibility: persons who will be retiring in the near future who want to make a donation now in order to take a charitable deduction on this year’s taxes while they are still earning income. They then can decide at some future point what charit(ies) will benefit from their gift. For more information about these new Donor Advised Funds, contact Urban at 815-399-4300. Upcoming Estate Planning Seminars Around the Diocese We encourage you to promote Wills to your parishioners. This is the best way to get them thinking of providing for their families: biological and Church... Here are the upcoming seminars: October 4, Saturday, 9:30am - St. Elizabeth Ann Seton, Crystal Lake October 8, Wednesday, 7:00pm - St. Catherine of Genoa, Genoa November 10, Monday, Time TBA - Sacred Heart, Marengo