Permanent Endowments
A permanent endowment is an investment vehicle that preserves the contributed principal (corpus) while a portion of the earnings supports the donor’s intentions in perpetuity (forever). Permanent endowments begin with an initial charitable contribution and grow through additional charitable gifts plus earnings. A percentage of the investment gains – as determined annually by Foundation trustees – will be granted from each respective endowment according to the specific designation defined by each respective endowment agreement.
Unlike other charities, all contributions, unless otherwise designated, become part of the endowment principal – meaning that they will never be spent, but will remain invested forever. As the principal grows, so does each annual grant. We are able to advance our mission and the missions of our beneficiary organizations by retaining a modest 1% annual administrative fee (redeemed at 25 basis points per quarter).
To make a charitable gift of any amount 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 a note indicating the designated endowment, please send it to Independent Catholic Foundation, 3618 Fifth Avenue Suite 1, Altoona, PA 16602-1705. We will promptly issue a charitable gift receipt.
By clicking the following link, a new tab will open so you can review or donate to our current list of endowment funds. There you will find narratives describing spending designations and beneficiary organizations for each endowment. Click here for the current endowment list.
Individuals or families wishing to establish a new endowment in honor or memory of loved ones for the benefit of a local, cherished Catholic cause can do so with a minimum deposit of $10,000 (payable up to 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 agreement or use the endowment worksheet at the bottom of this page to guide you, or contact us today at (814) 201-2080 for a confidential conversation.
