A permanent endowment is an investment vehicle that preserves the corpus and creates earnings – a portion of which support the donor’s intentions in perpetuity. Permanent endowments begin with an initial charitable contribution and grow through additional charitable gifts plus earnings.
Here at the Independent Catholic Foundation, we welcome contributions of any amount at any time for existing endowments. Such contributions become part of the endowment principal and can never be spent. A portion of the investment income – as determined annually by our trustees – will be distributed according to the specific designation defined by each respective endowment agreement. In-depth analysis allows the trustees to distribute as much as practical without compromising the perpetual nature of each endowment’s existence.
New endowments in honor or memory of loved ones can be established with an initial deposit of $10,000 or more if fulfilled within three years. Each endowment requires a signed legal agreement between the Foundation and the originating contributor. This document preserves the donor’s intentions for the duration of the endowment. You may preview a sample endowment here, and contact us for details.
To make a charitable gift to one or more of our current endowments, you may do so using a check, debit or credit card online. To mail a contribution check with deposit instructions, please send it to Independent Catholic Foundation, 3618 Fifth Avenue Suite 1, Altoona, PA 16602-1705. We will promptly issue a charitable gift receipt for income tax purposes.
2017-18 LIST of ENDOWMENTS - Please click on each section title below.
Established in 2017 with an anonymous generous contribution to provide for general maintenance and capital improvements of the Paterno Catholic Student Faith Center on Park Avenue in State College, PA, which serves Catholic Campus Ministry at PSU University Park campus.
CATHOLIC EDUCATION (SCHOLARSHIPS)
Established to fund scholarships, tuition assistance, general operation and other needs as directed by each endowment fund agreement.
Basilica of St. Michael the Archangel Parish, Loretto
Cathedral of the Blessed Sacrament Parish, Altoona
Good Shepherd Parish, State College
Holy Family Parish, Clover
Holy Name Parish, Ebensburg
Immaculate Conception Parish, Dudley
Our Lady of Lourdes Parish, Altoona
Our Lady of Mount Carmel, Altoona
Our Lady of Victory Parish, State College
Our Mother of Sorrows Parish, Johnstown
Queen of Archangels, Clarence
Sacred Heart Parish, Altoona
St. Anne Parish Angel Endowment, Johnstown
St. Catherine of Siena Parish, Duncansville
St. Catherine of Siena Parish, Mount Union
St. John Gualbert Cathedral, Johnstown
St. John the Evangelist Missions, Bellefonte
St. John the Evangelist Parish, Lakemont
St. John the Evangelist Parish, Everett
St. Joseph Parish, Johnstown
St. Mary Parish, Hollidaysburg
St. Mary Parish, Orbisonia
St. Nicholas Parish, Nicktown
St. Peter Parish, Somerset
St. Rose of Lima, Altoona
St. Stephen Parish, McConnellsburg
St. Therese of the Child Jesus, Altoona
OTHER MINISTRIES AND CAUSES
ST. VINCENT de PAUL
Topshop (Farabaugh) Memorial Endowment Fund