Endowments

The Independent Catholic Foundation holds more than 160 separate endowment funds that support a wide range of parishes, parish cemeteries, schools, scholarships, diocesan ministries and other Catholic initiatives.

For a complete list, please see "2011 Endowments"
 

Why Endowments?

Endowments are considered by many the best way to provide a perpetual fund for the parishes, schools, ministries and other Catholic organizations related to the Diocese of Altoona-Johnstown. Endowments offer a solid base of funds that are available for Catholic activities throughout the eight-county diocese now and forever. The Foundation provides a vehicle to connect people with an interest in helping to the needs that exist. Gifts to the Foundation not only further the work of the Church, but also may provide the donor with several benefits:

  • Perpetuity - Endowments continue forever and only income is distributed to support the named charity.
  • Public Accountability - Timely reporting and audits assure open disclosure of all Foundation activities.
  • Tax Advantages - Properly planned and executed endowments can save income taxes, avoid capital gains on long-term highly appreciated assets, and eliminate or drastically reduce federal estate taxes.
  • Memorial Opportunities - Donors may honor and memorialize a loved one, cause, or a parish with a restricted endowment; or establish a permanent philanthropic legacy perhaps in a family name.
  • Professional Management - Trustees exercise strict fiduciary responsibility over all Foundation assets and provide prudent stewardship of Foundation funds.