Frequently Asked Questions
Find answers to common questions about the Catholic Community Foundation, our policies, and how to make your charitable gift.
FAQs About CCF
The Foundation is a charitable organization established to provide endowment funds and financial support for the parishes, schools, ministries, and organizations of the Diocese of Richmond, Virginia, and is a great choice for creating a meaningful legacy for families and individuals.
The Foundation is established to provide long-term financial support for parishes, schools, organizations, ministries, and families in the Diocese of Richmond. Through the creation of endowments and solicitation for major gifts, the Foundation provides a means to generate income to sustain and enhance the strength and viability of Catholic institutions in the Diocese of Richmond.
The Foundation is a separately incorporated 501(c)(3) organization that serves the Diocese of Richmond.
The Foundation is managed by a Board of Directors composed of clergy and laypeople across the Diocese of Richmond. The Board’s objective is to pursue an investment policy consistent with reasonable growth while prudently safeguarding the principal. As good stewards, they oversee Foundation assets and audited financial statements.
The Catholic Community Foundation serves the entire Diocese of Richmond, which spans 36,000 square miles across southwest Virginia and the Appalachian region, the Roanoke Valley, Richmond and southern Virginia, and extends all the way to Cape Charles, Virginia, and the Chesapeake Bay. The only other diocese in Virginia, the Diocese of Arlington, is the only area that we do not serve. The Arlington Diocese spans Northern Virginia, down through Fredericksburg, and part of the Shenandoah Valley.
FAQs About Ways to Give
An endowment is a fund created to support a parish, school, or ministry in perpetuity. The original gift—along with any additional contributions—is invested, and those funds are not spent. Instead, the earnings generated each year are used to provide ongoing support, in accordance with the donor’s wishes.
The Catholic Community Foundation (CCF) offers permanent endowment funds and quasi-endowment funds, referred to as designated funds, that operate as an endowment. Permanent endowment funds must adhere to the CCF’s spending policy to preserve the principle of the fund in perpetuity. A quasi-endowment fund provides flexibility for withdrawals and does not have to adhere to the spending policy, although it is encouraged not to draw on the principal.
By creating an endowment, an individual or family can answer Christ’s call to serve the church and those in need for generations to come. A Catholic entity, such as a parish, school, or ministry organization, can ensure it provides a secure source of income for the future and serves the community for many years to come.
Individuals/families can establish a named fund with an initial contribution of at least $25,000. These funds can be designated for parishes, schools, or organizations; be unrestricted for the CCF’s greatest area of need; or be established for Catholic mission and ministries within the Catholic Diocese of Richmond. A parish or school of the Diocese of Richmond can establish an endowment with an initial contribution of at least $5,000. However, no minimum amount is required to make a gift to an established endowment fund.
For permanent endowments, the endowment principal cannot be withdrawn and used for any special projects or capital needs. The income from the endowment, however, may be used for projects unless there are restrictions on the use of the endowment. For a quasi-endowment fund, withdrawals are flexible and over 5% can be withdrawn as needed (although it is not encouraged as it diminishes the impact of the endowment).
Gifts may be made to CCF in the form of immediate gifts, such as cash, real estate, stocks, and bonds; through wills and bequests; or as a designated beneficiary of a life insurance plan, retirement plan, or IRA.
Yes. In fact, most Catholic entities and individuals develop plans to grow their endowments. You may add any amount to your endowment fund at any time.
Questions About Our Policies
The Foundation’s investment strategy is focused on total return to preserve and enhance the purchasing power of each endowment and to maintain a consistent distribution policy so that endowment beneficiaries can prudently utilize their distributions. The Board of Directors, in particular its investment committee, is responsible for overseeing the investment management of the endowment funds. The Foundation’s investment committee determines the investment policy, asset allocation strategies, and hires appropriate investment fund managers and consultants. Greystone Financial Services serves as the custodian and consultant for the Foundation’s investment portfolio.
All investments in the Catholic Community Foundation are Catholic screened to ensure they adhere to the principles and teachings of the Catholic Church.
The CCF’s spending policy, established by the Board of Directors, encourages the growth of new endowment funds, protects them as a permanent source of income, and ensures distributions from endowment funds in changing economic cycles. The current spending policy is 5% of a fund’s average invested fair market value over a three-year period, as of December 31 of the year preceding the June 30 fiscal year-end.
Connect with CCF using the contact form. Our team will be happy to share more information about our strategies and our mission.
Generosity at Work
Meet the people whose lives are changed, the ministries that foster faith, the parish families that can thrive—and the people who make it all possible.
See the Impact
Annual Reports
Sharpening Our Vision, Sharing God’s Mission: Annual Report
See how generosity in the Diocese of Richmond fuels faith formation, education, and care for those in need.
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Impact Stories
Answering the Call to Campus Ministry
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Impact Stories
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St. Mary’s Backpack a crucial ministry for kids in Tazewell County
What started as weekend meals for a few kids has grown into a labor of love for 170 kids in western Virginia.
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Donor Stories
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Long after their kids graduated, one couple is still making Catholic school possible for other families.
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Other Ways to Make a Difference
Explore other ways to give beyond making a gift to a current endowment fund. Our team will work with you to reach your philanthropic goals and maximize your impact on the causes you care about.