Goals and Objectives
- Provide a source through which donors can make living and testamentary gifts to benefit their charitable objectives and sustain the works of parishes, schools, agencies, ministries and outreach programs of the diocese and other Catholic entities supported by its donors.
- Serve as a depository for charitable funds, mainly in the form of permanent restricted endowments. Additionally, unrestricted gifts will be encouraged for use as needed by the Foundation.
- Invest according to a prudent policy using Catholic socially-responsible investment guidelines that closely balances risk versus reward with safety with an adequate mix of investments to generate both growth and income.
The Foundation normally distributes funds annually to beneficiaries in July and August. The distribution policy calls for a percentage of the market value – based upon valuations at the end of both June and December annually over a three-year period – to be made available from each separate endowment fund each year. The board (guided by the expertise of its finance committee) determines the distribution percentage annually based upon investment performance and the on-going goal of providing growth and income in each endowment fund.
The Foundation strives to have investment performance provide returns that will allow each endowment fund to keep pace with inflation, produce income to allow for distribution of between three and five percent annually and experience steady growth in the principal as well. The Foundation affords a simple, efficient and effective means of protecting assets for the future.