Endowment and Donor Advised Funds

Endowment Funds

Endowment funds established through the Catholic Community Foundation are excellent vehicles for donors wishing to provide long-term support for parishes, schools, and diocesan ministries.  They especially ensure that the corpus of the donation is preserved, while income earned on the investment is available for use each year for the beneficiary providing a perpetual stream of income.

Who can create an endowment fund?

• Any individual, couple or family
• Any parish, school, organization or ministry in the Diocese of Richmond
• Alumni class of a Catholic school

What are the benefits of creating an endowment fund?

• Sustains charitable giving in perpetuity
• Demonstrates to your family the value of giving
• Provides an immediate tax deduction in the year your gift is made
• Reduces capital gains when you donate appreciated assets
• Invested professionally, in agreement with the United States Conference of Catholic Bishops’ Socially Responsible Investment Guidelines

What types of endowment funds are offered?

The CCF offers permanent endowment funds and quasi-endowment funds referred to as designated funds operating as an endowment. Permanent endowment funds must adhere to the CCF’s Spending Policy to preserve the corpus/principle of the fund in perpetuity.  The quasi-endowment fund provides flexibility with withdrawals and do not have to adhere to the Spending Policy, although it is encouraged to not invade the corpus/principle.

Donor Advised Funds

A donor advised fund is a flexible giving option that offers immediate tax benefits and allows donors to support parishes, schools, and diocesan ministries through grant recommendations. The Catholic Community Foundation manages the investment, administrative and grantmaking processes and complies with the Internal Revenue Service guidelines.

What are the benefits of creating a new Donor Advised Fund with the Catholic Foundation?

• Sustains charitable giving over time, through retirement and beyond
• Creates a lasting Catholic legacy when you later endow your fund
• Flexible and easy to establish
• Provides immediate tax deduction in the year your gift is made
• Reduces capital gains when you donate appreciated assets
• Invested professionally, in agreement with the United States Conference of Catholic Bishops’ Socially Responsible Investment Guidelines
• Administrative work handled by the Catholic Community Foundation

For more information to establish a fund, contact Maggie F. Keenan, Ed.D. at (804) 622-5221 or [email protected].