Types of Endowment Funds

An Endowment Fund

An Endowment Fund is a permanent Fund that is primarily meant to be invested in perpetuity.  The goal of the Foundation is to preserve and maintain the real purchasing power of the principal of the endowment assets. The year to year benefits from an endowment come primarily from the earnings on the investments that are then distributed out as grants.  Grants are distributed according to the spend rate adopted annually by the Board of Trustees.  The spend rate is the policy for distributing money from Endowment Funds.  

A gift to an endowment fund is a lasting gift that will benefit both present and future generations of our Catholic family and will continue to build God’s kingdom in our Diocese.

Unrestricted Endowment Fund

An Unrestricted Endowment Fund is a Fund that is established when a donor signs an agreement with the Foundation outlining what the Fund should be named without specifiying a specific purpose for the use of the Fund.  An Unrestricted Fund allows the Foundation’s Board of Trustees to see that the most pressing needs in our area are met as they change over time. The Board of Trustees with the approval of the Chairman will determine how mainly the income from Unrestricted Endowment Funds are used or distributed as Grants.  The use of the Funds must be consistent with the charitable purposes of the Foundation. A minimum of $10,000 is required to establish a Named Unrestricted Endowment Fund. 

The Catholic Charitable Foundation Unrestricted Endowment Fund is the Fund that has been set up to receive all gifts of $50 or more when the donor does not specify an active Designated Endowment Fund to which they wish to contribute.

Designated Endowment Fund

A Designated Endowment Fund is a Fund that is established when a donor signs an agreement with the Foundation outlining what the Fund should be named and designates the purpose and/or the beneficiary of the Fund.  The beneficiary and intended use of the Fund must be consistent with the charitable purposes of the Foundation. The Fund may support the Diocese, a Parish, a Catholic School or Catholic Charitable purpose or ministry within the Diocese of San Angelo that is consistent with the purpose of the Foundation.  A minimum of $10,000 is required to establish a Designated Endowment Fund. 

Build a Fund Option

You can use our “Build a Fund” option to establish a legacy for you or your family if you do not have the required $10,000 minimum amount to establish a named Endowment Fund at this time.  This option allows you five years to fully fund your endowment.  The Fund name and purpose are determined when the first contribution to the Fund is made.  The Board of Trustees may transfer the balance of the Fund to the Foundation's Unrestricted Endowment Fund if at the end of five years the minimum amount required for establishing a fund has not been reached.

Establishing a new named Endowment Fund

 If you wish to establish a new named Endowment Fund please contact Steve McKay at 325-651-7500 or smckay@sanangelodiocese.org.

Fund Reports

Donors of established Funds will receive an annual report showing the value of their Fund at the beginning of the year, any deposits made to the Fund, any grants paid from the Fund, fees charged to the Fund and the balance at the end of the year.

 

  

 

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