Types of Funds
The Catholic Foundation manages funds for many different types of purposes.
• Organization endowments are established by parishes, schools, and nonprofit organizations at the Catholic Foundation to meet their many needs.
• Designated endowments or named endowments are created by individuals or groups with preset beneficiaries like a parish, Catholic Charities, a favorite school, or for a particular cause. Designated endowments are often named after a favorite relative or priest as a memorial.
• Field-of-interest endowment funds provide grants that support particular needs or interest areas. Anyone can add to an existing field-of-interest fund. The Grants Committee reviews applications for grants from field-of-interest and unrestricted grant funds.
• Unrestricted funds provide grants to parishes, nonprofits, Catholic schools, and ministries and support the general operating needs of the Foundation. Donors who want to help others but aren't sure exactly where may find giving to an unrestricted fund an attractive option.
• Donor-advised funds are established by individuals and couples to coordinate their charitable giving. These funds provide tax benefits to people who create them and the Foundation handles the administrative work for the donors. Donors make recommendations regarding the charities or churches they wish to benefit. The full value of a donor-advised fund may be given away.
• Donor-advised endowment funds are similar to donor-advised funds. The donors make recommendations for the beneficiaries, but only on the distribution amounts determined by the Foundation's spending policy for endowments. The corpus of the endowment remains intact so that the fund lasts into perpetuity. Donor-advised endowment funds are often created in lieu of a private family foundation.
Gifts may be made to any of the funds already at the Catholic Foundation, or may be used to create new funds. New funds may be established in memory or in honor of a loved one or favorite priest, and may be used to provide grants for one or more purposes. Funds may be established with gifts during one's lifetime or gifts through one's will or estate. We invite you to talk with the staff about creating a new fund.