Giving Opportunities

How to Give

Donors to the Foundation may designate gifts in several ways:

  • Unrestricted - The Foundation Board will direct funds where they are most needed including for endowments or grants for current expenses.
  • Restricted to establish a new endowment fund - Individual, group or family gifts of $10,000 or more may be made to begin named endowments.  The Foundation will consider pledges to reach that figure over several years (normally two to three years), fully activating a fund after reaching the $10,000 level.
  • Restricted for an existing endowment - The gift will be contributed directly to one of the current endowments designated by the donor.

Funding Methods

Outright Gifts

The Foundation considers gifts of cash, appreciated real property, personal property, closely held stock or publicly traded securities. Gifts are tax deductible to the extent allowed by applicable law.

Cash is the most common outright gift, although marketable securities are also popular because they are easy to transfer and value, and because they provide certain income tax advantages. Assuming they have been held long-term (more than a year and a day), gifts of long-term appreciated securities - stocks, bond and mutual fund shares - receive an income tax deduction equal to the fair market value of the security on the date they are contributed. Capital gains tax is avoided, and the full value of these assets is available to the Foundation.

Planned Gifts

Click here for more information about planned gifts.

  • Wills and Bequests - Gifts through a will or living trust can be in cash or other property for a specified amount, a percentage of the estate, or remainder of the estate after all other bequests and obligations are satisfied.
  • Charitable Gift Annuities - A popular method of giving, an annuity can provide a donor with income for life plus substantial tax savings.
  • Charitable Trusts - A charitable remainder trust, charitable annuity trust and/or a unitrust can provide a donor with income based upon the value of the property contributed. These giving vehicles also offer beneficial income and estate tax benefits.
  • Insurance - The Foundation can be named as the owner or beneficiary of a life insurance policy. Proceeds of the policy are tax exempt. Some present values and future premiums may also qualify for charitable deductions.

However you choose to give, the Foundation is committed to working with donors to meet their charitable giving goals and needs. For more information, please contact Bill Hiergeist, Foundation Executive Director, at (814) 201-2080

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Information contained in this Website should not be considered legal, accounting, or other professional advice. Individuals considering a planned gift to the Foundation or other charity should consult with their financial advisor.

Donor Advised Funds

Donor advised funds: These are individual endowments created with provisions for the person(s) or family who created the endowment to determine where the annual distribution goes. The recipient or beneficiary may change each year, or there may be multiple beneficiaries with each distribution. A donor advised fund offers the opportunity to easily create a low cost, flexible method for charitable giving as an alternative to direct giving or the costly and cumbersome private family foundation. Donors receive maximum tax advantages with the administrative duties and expenses passed on to the holder of the endowment (ie: Independent Catholic Foundation). Recipients must be approved by the Board of Trustees and must align with the teachings of the Catholic Church. These are a very attractive alternative to a private family foundation.

Types of Donor Advised Funds

Permanent Endowment: These are permanently restricted with an annual distribution as determined by the Trustees; all endowments have the same percentage distribution. Principal can not be distributed, except as required by law. The Foundation is advised each year who will be the beneficiary of the annual distribution and the Foundation mails the checks to them.

Provisional or Temporary Endowment: An Endowment is created that allows the interest (annually) and up to and including the 50% of the original principal to be distributed. This has all of the tax and expense advantages to the donor as a permanent endowment. There are stipulations in place for minimum distributions and timing of same. Additionally, there may be provisions for different administrative fees. The details of each situation vary.

For more information, please contact the Foundation Office at 814-201-2080.