Growing Funds with the Catholic Foundation
Named and donor directed funds are a great way to leave a legacy; for your family, or for someone you wish to honor. Your fund can be used to support causes closest to your heart today—and lasting into perpetuity!
The minimum amount for a donor fund with the Catholic Foundation is $20,000. However, you may establish the fund with a deposit of $1,000, and gift your named fund over time to reach the minimum amount. The Foundation holds and manages these funds for a reasonable fee.
Below are a few examples of fairly recent funds:
The “Antrim Family Fund” was established to honor family members through annual gifts to two diocesan parishes close to their hearts.
The “Richard and Paulette Class Fund“ was established to provide support for the Franciscan Poor Clare Nuns.
Gene and Viola Pullis Memorial Fund honors beloved parents while providing financial support (assistance for vocation retreats, travel to mother houses, college tuition, etc.) for women discerning a religious vocation.
The “Gerry and Colleen Donlin Fund" will make annual gifts (50% / 50%) to support seminarian education and Catholic school students.
Reverend Paul Zylla, a deceased priest of the Diocese of Saint Cloud, established, established a named fund to provide scholarships for seminarians seeking the priesthood. Look for more information in the coming months, about the “Reverend Paul Zylla Priesthood Scholarship Fund”.
The Catholic Foundation for the Diocese of Saint Cloud currently manages a number of endowed funds. In addition to the “Living the Promise” funds, we manage education and seminarian funds, as well as a “home grown” scholarship fund, supporting Catholic grade school students and their families. Grants from endowments are made from a portion of the fund’s earnings. Prudent management policies help these funds stay abreast of cost of living increases.
The Catholic Foundation for the Diocese of Saint Cloud welcomes individuals, families, and business entities to create their own charitable funds with us. Contact us any time to learn how you can truly make a difference in the world through your faith and generosity. Your friends at the foundation would be pleased to help you leave a legacy through a named fund.
Many parishes throughout the diocese invest their general funds, school funds, cemetery funds, and the like with the Catholic Foundation for the Diocese of Saint Cloud. Nonprofit organizations such as Catholic Charities, Birthline, and K-Yes Radio partner with the foundation, as well as local chapters of the Diocesan Council of Christian Women and Knights of Columbus. For a modest fee, the Foundation provides investment management and fund distributions. The organizations own their funds and may request distributions of any amount at any time.
People of good will have been known to send a note to the Catholic Foundation for the Diocese of Saint Cloud with a word of encouragement and an enclosed check. Some designate their gift to a specific cause or established fund. Many others ask us to “use my gift where there is the most need.” The Board of Directors of the foundation will move money from this spendable (non-endowed) fund to where it is truly needed at a given time. The size of the fund (available dollars to be put to use at a given time) will determine the magnitude and timeliness of the foundation’s response to important needs.