How to Start a Fund
It is simple for individuals to create and name a new fund. Basically it only requires $5,000 and seven steps.
1. Contact the staff of the Catholic Foundation. They will assist you in completing the rest of the steps noted here.
2. Determine what type of assets you will use to begin your fund. Funds can be established with a variety of assets.
3. Determine whether you will create the fund now or at your death.
4. Determine which ministries, organizations, or causes would benefit from your fund.
5. Determine the type of fund you wish to establish, either an endowment fund or a donor advised fund.
6. Create a name for your fund. You can name it after a family member, a priest, a nun, or yourself. It can even be named after your favorite saint or a Bible passage.
7. Involve your professional advisor to assist you in the process.
The Catholic Foundation will provide you with an agreement that clearly specifies your wishes. Your intent will be upheld into perpetuity. The Catholic Foundation has a gift planning professional to assist you through the process.