The core of our mission focuses on receiving and growing permanent endowments for the purpose of providing long-range revenue streams for local parishes, schools, ministries and cemeteries. A percentage of the investment gains – as determined annually by Foundation trustees – will benefit specific Catholic causes defined by each respective endowment agreement in perpetuity (forever).
Our modest administrative fee of 1% annually (redeemed at 8.3 basis points per month), allows us to maximize annual distributions to your cherished Catholic causes while providing adequate funds to advance our mission.
Anyone may make a charitable gift of any amount in honor or memory of a loved one to one or more of our 280 endowments by several methods:
Checks – should be made payable to “Independent Catholic Foundation”, 3618 Fifth Avenue Suite 1, Altoona, PA 16602-1705, along with a note designating an endowment that will receive your gift. We will promptly issue a charitable gift receipt.
Credit Card – Our new online endowment catalog provides narratives describing spending designations and beneficiary organizations for each fund. It also permits gifts to multiple endowments via a shopping cart. Parishes, schools, ministries and alumni classes can share a fund’s dedicated donation page with family and friends. Click here for the endowment catalog.
Stocks or Mutual Funds – download our instruction sheet, “Donating Securities” to share with your broker at the bottom of this page.
Retirement IRA Qualified Charitable Distributions are tax-free distributions directly from a traditional or Roth IRA account (other than a SEP or Simple IRA) to a nonprofit organization (such as the Foundation, your parish, etc.). QCDs may be made if you have already celebrated your 70-1/2 birthday. Such distributions count toward your Required Minimum Distribution (RMD). Additional information is available in IRS Publication 590-B. Please download our “Donating from IRAs” to share with your professional advisor at the bottom of this page.
Creating Your Endowment
Individuals, familes, friends, co-workers or alumni classes may create a named endowment in honor or memory of loved ones for the benefit of a cherished Catholic cause with a minimum deposit of $10,000 (payable up to three years). A legal agreement signed by the donor(s) and the Foundation ensures that annual grants are issued as intended for the life of the beneficiary organization. You will find a sample endowment agreement and endowment worksheet at the bottom of this page. Please contact Foundation CEO Chris Ringkamp at (814) 201-2080 for a confidential conversation.