These funds may be used to provide grants for any purpose consistent with the charitable mission of the foundation, as determined by its Board of Trustees.
Endowment Funds are permanent funds intended to provide long-term support for charitable Catholic organizations. The principal for these funds is protected forever – thus allowing the fund to support its intended purpose in perpetuity, far beyond the donor’s lifetime. Endowments provide a stable, predictable source of income for Catholic organizations. Earnings from these invested funds are distributed through grants in a manner consistent with the donor’s designated purpose of the fund and timing of grant distributions.
These funds are established by donors who have a range of charitable interests and wish to participate in the future grant-making process for the fund. The donor may recommend religious, educational or charitable organizations for grants, provided the organization meets certain requirements, including being an eligible 501(c)(3) nonprofit organization. The recommended organization must also operate in a manner consistent with Catholic values.
These funds are established for specific religious, educational or charitable organizations that are near and dear to the heart of the donor. Grant distributions are made to the designated organization, consistent with the specific intent of the donor.
These funds are intended to address needs of an important area of focus for religious, educational or charitable organizations. Examples include Catholic education, youth ministries, vocational training and parish music ministries.
We feel privileged to be among the earliest donors to the Catholic Community Foundation and to be a part of the ‘Founders’ Circle’. We chose to establish a Donor Advised Fund so we could continue to support the organizations we are involved with while also supporting the Catholic Community Foundation’s mission to encourage Catholic Philanthropy in the community of San Diego.
In honor of my wife, Pat, now deceased, I was very pleased to learn that I was among the first individuals to create a new endowment to support the good works of my parish, St. Mary Star of the Sea…Pat and I volunteered in the parish’s “Soup Kitchen” for many years and she wanted to make sure that the “Kitchen” would always have sufficient funds. While I am alive, I intend to make annual contributions to grow the endowment. When God decides it’s my time to come home, I intend to leave a portion of my estate to further support this fund. My hope is that others will contribute to this fund as well.
As Cheryl and I were planning our departure from the San Diego area as retirees we were blessed to find the CCFSD offered several opportunities to assist those Catholic ministries we had engaged with over the last 28 years. The CCFSD gave us the ability to contribute to the continuation of our parish, a K-8 school and Catholic Charities. We strongly encourage our San Diego friends and family to explore with CCFSD ways to make a positive difference in the future of San Diego.
…one of the many reasons we decided to create a donor advised fund at the Catholic Community Foundation was to have the ability to donate appreciated securities without paying taxes on the capital gains and get the full value of the deductions in the current year even though the grants to charities will be made in later years.
