The mission of the Catholic Foundation of North Georgia is to support the ministries of the Catholic community through the effective long-term management of endowment funds and the encouragement of stewardship. Growing endowment funds to support the work of the church is a primary purpose of the Catholic Foundation.
Many people do not fully understand endowments. Endowments are funds intended to last forever. The gifts to the endowment are protected in perpetuity as the "principal" or "corpus" and are permanently restricted. These gifts produce interest, dividends and market growth which provide distributions to support the work of the intended charity. All endowments must follow legal regulations and are required to have spending policies and investment policies.
Endowment Funds may be established by parishes, Catholic schools, nonprofit organizations, Archdiocesan ministries. These endowments are referred to as organization endowments. Organization endowments grow through the current and planned gifts of parishioners, volunteers, and other supporters. The Catholic Foundation will partner with any parish, school, or nonprofit to begin and grow the endowment fund by promoting Catholic legacies.
Endowment funds are also established by individuals. Endowment funds established by individuals are often referred to as named endowment funds or designated endowment funds. These funds are named after the donor, or after someone important in the donor's life. The donor(s) choose(s) the beneficiary organization or organizations to receive distributions from the fund. The funds can be established during the donor's lifetime or through a will or estate plan. It only takes $5,000 to create the endowment. When it reaches $25,000, it will be eligible to provide grants to the beneficiaries.
“The kingdom of heaven is like a mustard seed that a person took, and sowed in a field. It is the smallest of all the seeds, yet when full-grown it is the largest of plants. It becomes a large bush, and the birds of the sky come and dwell in its branches.”