What is an Endowment?

An endowment is a permanent fund that is created and invested for the benefit of a particular organization or cause. Grants are made only from the investment income earned by the fund. The endowment’s capital may never be drawn upon and so it is never depleted.

Since endowments are maintained forever, a gift to an endowment is truly a gift that continues forever. Through the endowment, you are providing for future generations. Imagine knowing that because of your decision today, your parish will receive a grant every year, even beyond 100 years from now.

To learn more, please contact Carolina Scipioni at 408.995.5219 or scipioni@cfoscc.org at the Catholic Community Foundation. To contribute to your parish’s endowment, please follow this link: giving.cfoscc.org/StClareParish

Why does my parish need an Endowment?

An endowment is a permanent source of income. It provides financial security in times of economic uncertainty. Financial security allows the focus of your parish and parish staff to remain where it should, on Catholic ministries.

All major nonprofit organizations and educational institutions have endowments that support their operations and beyond. A healthy financial plan requires the security in investing that an endowment can provide.

What are the benefits of our Parish Endowment?

The primary purpose of a parish endowment is long-term financial security.

Parish endowments…

  • Provide a permanent source of income. A parish endowment is never depleted.
  • Provide income to that will allow your parish to avoid dependence upon capital campaigns and occasional donations.
  • Provide insulation from economic variance.
  • Provide the financial security necessary to allow focus to remain on ministry, not fundraising.

Planned Giving/Legacy Gifts

What is a Legacy Gift?

Legacy Gifts are one way to both support your parish and create a legacy for yourself or your family. A Legacy Gift, otherwise known as a planned gift, is a charitable gift that is initiated by a donor’s will or estate plan.  Examples of Legacy Gifts include a gift made in a will, known as a bequest, donation of a life insurance or retirement plan, charitable trusts, and charitable gift annuities. It is always important for individuals to discuss their financial planning with an advisor.

Are you concerned that you will not be able to provide for both your family and parish in your will or estate plan?

Caring for both the important people and ministries in your life does not require a huge savings account. Rather than leaving a specific sum or piece of property to each, consider organizing your planning by percentage. You might choose to leave 90% of your estate to your family and 10% to your parish.

This assures that unforeseen circumstances such as fluctuation in property values will not interfere with the proportionate distribution of your estate to both your family and your parish.

Aren’t Planned Gifts only for rich people?

No! You don’t need a huge estate or a huge bank account to make a meaningful gift to your parish in your will. Leaving a gift of a few thousand dollars to your parish’s endowment provides a meaningful gift for generations to come. If only 200 people leave the Parish Endowment a gift of $5,000, they’ve created a $1 million endowment!

Did you know that you can endow your annual gift, ensuring that it continues for generations to come?

Endowing your giving allows you to make a one-time gift that will sustain your annual donations for eternity and leave a lasting legacy. If you currently donate $1,000 per year to your parish, you could establish a $25,000 endowment that names the parish as its beneficiary. This will provide the parish your annual $1,000 donation forever, with no new giving. In fact, investment interest income will increase the value of the endowment over time, which will increase the amount of the yearly annual distributions to the parish!

How can I make a simple and valuable legacy gift that doesn’t require contacting a legal professional?

Changing the beneficiary of a life insurance or retirement policy that you no longer rely on is a quick and easy way to make a planned charitable donation that does not require consulting a legal professional. You only need to contact your insurance or retirement policy provider to name the parish or parish endowment as the new beneficiary of the policy!

Donor Advised Funds

What is a Donor Advised Fund?

A Donor Advised Fund allows a donor to make a one-time charitable donation, receive full tax benefits for the year, and later grant from the fund to nonprofit organizations of the donor’s choice, such as a parish, without timing or minimum payout restrictions.

The Catholic Community Foundation is the only Catholic partner for Donor Advised Funds in Northern California. Donor Advised Fund with the Foundation provides you the added assurance that your funds will be invested in accordance with your Catholic values and allows you the option to receive information about Catholic organizations of the Valley that are in need and eligible to receive grants from your fund.

Have you had a large taxable event or need to offset capital gains?

Establishing a Donor Advised Fund (DAF) at the Catholic Community Foundation may be the solution for you! A DAF is a charitable giving vehicle that allows a donor to make a one-time donation, receive full tax benefits for the year, and grant to eligible non-profit organizations at their own pace with no timing or payout restrictions. It is an ideal tool for any individual who is in need of a charitable tax deduction but has not yet decided which causes or organizations they would be most inclined to support.

Already have a Donor Advised Fund? Transfer it to Catholic Community Foundation!

If you have a Donor Advised Fund with a non-Catholic organization, you can transfer it to the Catholic Community Foundation and be assured that your funds are invested and granted within your Catholic values system. The Catholic Community Foundation adheres to the United States Council of Catholic Bishop’s investment guidelines and has the ability to educate you on Catholic ministries in need, within your specific fields of interest.

What is a Gifted Donor Advised Fund?

One or various donors can contribute to a Gifted Donor Advised Fund in honor of a recipient. The donors receive a full charitable tax deduction for the year the donation is made. The recipient of the fund, the advisor, chooses how to charitably “spend” or grant the funds later, to eligible non-profits of his or her choice, with no timing or payout restrictions. A Gifted Donor Advised Fund is a lovely way to commemorate and honor another person with a gift that allows the recipient to affect real change in their community.