Why do I need the Foundation? I already give to charity, and to my parish church.
Today’s increasingly complex tax regulations and society’s myriad needs, both human and spiritual, complicate most simple acts of charity. How can we know we’re doing what’s best for our families and for our church and our community? How can we be sure we’ve optimized the tax advantages of charitable giving? How will we know our money is invested well and used wisely? Can we be certain our charitable wishes are being honored? The Catholic Foundation addresses these issues – and often, several others – to maximize the effect of your generosity and express the highest form of Catholic philanthropy.
Plus, The Catholic Foundation offers “one-stop charitable giving,” with a variety of plans that continue current donations to your parish or Catholic school while at the same time planning for longer-term gifts and for making the Catholic community part of your will or estate plan.
Does the Foundation displace my lawyer and financial advisor?Not at all. The Catholic Foundation works closely with all professional advisors to create only the charitable giving component of your financial and estate planning. With their knowledge and insight, we can develop a plan that it is consistent with your overall personal, financial and spiritual goals, both currently and well into the future.
Four distinct types of gifts are accommodated:
- An outright gift of cash or securities
- A charitable bequest
- A charitable gift annuity
- A charitable remainder or charitable lead trust
These, in turn, can be managed in a number of ways to optimize income and/or estate tax savings, to provide a secure income, to advance particular charitable interests, and/or to build the Catholic endowment and create an enduring legacy.
Is The Catholic Foundation mostly for ‘Big Givers’?
No. The Catholic Foundation hopes everyone in the Catholic community will participate in the spirit of charitable giving and realize the effectiveness and efficiencies of this trusted foundation. Gifts of any size are welcome, and indeed, essential to the Foundation’s mission.
What if I have a family foundation already?
Private foundations and community are not mutually exclusive; they may serve similar, although not identical purposes. However, foundations like The Catholic Foundation often afford greater tax advantages and distribution flexibility, and they assume the otherwise costly and time-consuming record-keeping and reporting responsibilities associated with private foundations. In addition, The Catholic Foundation brings a unique philanthropic focus to bear, thus providing donors with a way to build a particularly rich legacy within the Catholic community.
How much does this cost?
The Catholic Foundation charges modest fees to cover the expenses of managing and investing its funds. These fees, which vary according to the type of fund, are calculated on the total balance of each fund and charged to the fund quarterly. There are no out-of-pocket fees.
How can I learn more about working with The Catholic Foundation?
We encourage you to set up an appointment to discuss your particular charitable intentions with Michele Brock. Together with your legal and financial advisors, Michele will work with you and your family to develop a successful and satisfying program for your faithful philanthropy.