Endowment Funds
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 specifying 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.
Ways to Give
Planned Giving
A planned gift is a charitable gift that requires significantly more thought and planning than a simple gift of cash or securities. Planned gifts also include charitable gifts that affect the donor’s estate planning such as bequests in wills, estate designation from a trust, life insurance policies or retirement accounts. A planned gift could also be a gift of real estate or mineral interests.
All planned gifts must be approved by the Board of Trustees to insure no liability is incurred by the Foundation with the acceptance of the gift. Donors of planned gifts are encouraged to consult their attorney and financial advisor prior to making a gift. Please contact Dcn. Marc Mata at 325-651-7500 or mmata@sanangelodiocese.org for additional information about a planned gift.
Giving Real Estate
Gifts can be made to the Foundation at any time in any amount. All gifts made to the Foundation are irrevocable gifts.
Types of gifts may include mineral interests and real estate gifts. Non-cash gifts will generally be converted to cash as soon as possible after receipt of the gift.
Stocks & Bonds
Donors may be interested in donating cash, securities, life insurance policies and Individual Retirement Accounts (IRA’s) that name the Foundation as a beneficiary, as well as mineral interests and real estate gifts. Non-cash gifts will generally be converted to cash as soon as possible after receipt of the gift.
All non-cash gifts must be approved by the Board of Trustees to insure that no liability is incurred for the Foundation by their acceptance.
Build a Fund
Anyone can establish an endowment in our Foundation. Individuals, groups, or families may choose to establish an endowment. A minimum of $10,000 is required to establish an endowment through the Catholic Charitable Foundation of the Roman Catholic Diocese of San Angelo. This $10,000 may come through an individual or by pooling resources of a group or family.
The Catholic Charitable Foundation also offers a "Build a Fund" option for those that may need a little more time establishing an endowment. 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.
Memorial
A onetime memorial gift to the Foundation in any amount is a wonderful way to preserve the memory of a deceased friend or family member because it is a gift that will serve forever. A similar gift to honor someone you know or love while they are still living can also be given as an honorarium.
If you wish to establish a Designated Memorial Fund named in memory or honor of someone please see the requirements under Endowment Funds.
