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)).  The Catholic Foundation also offers Charitable Gift Annuities where a donor receives a annuity payment for life.  After the Annuitants death, at least 50% of the distribution has to be to a Diocesan Entity and the other half may go to a 501(c)(3) organization which follows Catholic Values.

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 (70% – Growth Fund and 30% – Income 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?

Annually, on 7/1 each year, all corpus earnings above original corpus is transferred to retained earnings.  All or part of participant accumulated retained earnings may be withdrawn once per quarter. The participant may decide to return accumulated retained earnings in part or whole to the principal (corpus) once per quarter. The original principal (corpus) plus the other permanent contributions cannot be withdrawn. Donor Advised Fund grant requests can be submitted 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.

Join the Perpetual Light Society!

Perpetual LightWhen you make a significant planned or endowed gift to your parish or school, you are automatically eligible for membership in the Perpetual Light Society. The Perpetual Light Society was established in 1996 by Bishop Doran to thank and celebrate with those parishioners who remember the Church in their will or estate plan. Each member receives a certificate from Bishop, a semiannual newsletter called Perpetual Light, and an invitation to a Mass and brunch held from time-to-time. Contact us for more information.
Would you like to know more about The Catholic Foundation?