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Questions and Answers
The Catholic Foundation of the Diocese of Sacramento, Inc. provides a way for you to support the many ministries of the parishes, schools and agencies of the Diocese of Sacramento. Established in 2004, the Foundation’s focus is to ensure a strong financial basis for continuing services to the faith community in the 20 counties of Northern California for years to come. The Foundation is a not-for-profit corporation which operates in support of the Diocese and is managed by an appointed Board of Directors.
The Foundation holds many individual endowment funds for the benefit of parishes, schools and agencies of the diocese. Each year, an endowment’s earnings are used to help finance the specific purpose for which the donor(s) created it. The best source for endowment funds is from Planned Gifts. Planned Gifts include: Bequests through Wills, Charitable Gift Annuities, Charitable Remainder and Lead Trusts, Life Insurance instruments, and Retained Life Estates, to name a few. Because of favorable governmental regulations for these planned gifts, significant tax advantages are available to interested parishioners with charitable intentions. Under current IRS tax law, you can also make tax-free gifts from your IRA in 2009. There are many ways to make a planned gift and contribute to an endowment. You can make a planned gift and/or contribute to an endowment by:
If you already have a will or living trust, you can amend them to make a gift without rewriting the entire document. An attorney can prepare a codicil to your will that adds a new bequest to the parish while reaffirming the other terms of your will. Similarly, your attorney can prepare an amendment to your living trust to add the parish as the beneficiary. We have established a Gift Acceptance Policy to protect the donor, the parish school or agency, the Foundation and the Diocese. If you have question about a non-cash gift, please consult our policy or give us a call. Accepting gifts of real estate is more complicated. If you are considering a gift of real estate, please contact us directly. The Catholic Foundation is managed by a fiduciary Board of Directors representing many professional fields of expertise and areas of the Diocese. As Chairman of The Catholic Foundation, the Bishop appoints the Board of Directors. The day-to-day management of the foundation is accomplished by The Executive Director. Additional day-to-day management resources are provided by Chief financial Officer and finance staff of the Diocese of Sacramento pursuant to a formal contract for services. Christian Brothers Investment Services, Inc. serves as Investment Advisors for assets of the Foundation. Participants select from three options depending upon their investment needs and objectives. The three investment options are: The Income Fund, The Mid-Income, and The Growth Fund. The three funds cover the spectrum of risk and offer varying asset allocation options. All participant funds are invested in accord with our Social Responsibility Guidelines where social and moral responsibility for investments is guided by Roman Catholic social and moral teaching. So, the “stewardship of resources” goes beyond simple fiduciary responsibilities of ensuring acceptable return on investments. Investments must reflect commitment to other values as well, such as the sacredness of life, the dignity of the individual, collaboration, and the care for the poor. All participant account earnings may be: 1) semi-annually withdrawn; 2) accumulated as earnings for later withdrawal; or 3) returned in part or whole to the principal (corpus). The original principal (corpus) plus the other permanent contributions cannot be withdrawn. Donor Advised Fund distributions can be made at any time, subject to the agreement terms. Many donors prefer to perpetuate their gifts through an endowment program, providing a perpetual source of earnings income for their most cherished organizations and intentions. Individuals might prefer, through Donor Advised Funds, the ability to provide for periodic distributions of both earnings and their original gift(s) to their favorite non-profit organizations. Organizational participants of The Catholic Foundation publicly position their parish or school in the minds of parishioners for such gifts. Because planned giving can be a complex subject, we are ready to streamline and simplify all planned giving efforts for your parish, school or agency. The Catholic Foundation offers the following services:
MARKETING ASSISTANCE
Promotions: The Foundation has marketing information to help promote the concept of planned giving. Brochures, bulletin articles and Mass Announcements are available and can be customized for your parish, school or agency.
Seminars: Foundation staff members will work with your parish, school or agency and with local professionals to present seminars and to assist in marketing these seminars. All seminar attendees receive materials updating them on the opportunities and benefits of planned giving. Any and all follow-up leads are shared with the parish, school or agency. All attendees are entitled to free and confidential proposals and consultations regarding their proposed gifts.
CONFIDENTIAL PROPOSAL AND CONSULTATIONS
The Foundation staff is equipped to provide personalized and confidential gift proposals and is always available to assist in the individual consultation
THE CATHOLIC FOUNDATION PLANNED GIVING COMMITTEE
This committee of Catholic professionals from throughout the diocese serve as a valuable resource to The Catholic Foundation and to individual donors and their advisors regarding any planned giving question. By becoming a partner in the work of the Foundation to preserve and promote our Catholic heritage in our diocese.
Remember…planned gifts and endowments are wonderful opportunities to be stewards of the Church for future generations. |
 2009 The Catholic Foundation of the Diocese of Sacramento, Inc. All rights reserved.2110 Broadway, Sacramento, CA 95818 | Phone: (916) 733-0266 | Fax: (916) 733-0224 |
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