GIVING
Types of Funds
Why choose the Catholic Foundation of the Diocese of Saint Cloud?
The Catholic Foundation is a corporation in and of itself, designated 501(c)3 by the Internal Revenue Service so you can be assured that your gift is protected and only used for the purposes you establish in the fund agreement.
THE CATHOLIC FOUNDATION OFFERS:
Fund management for parishes, Catholic schools, and organizations
Endowed and spendable fund distribution
Long-term gift planning
Multiple philanthropy and charitable gift giving vehicles to meet your needs
Gift-planning assistance and help to achieve tax advantages
Assistance to designate gifts to your parish or other charitable entities
Professional guidance with gifting of appreciated stock and real estate
By choosing to work with the Catholic Foundation to plan and manage your philanthropic vision, you will receive excellent guidance as to how to maximize your charitable impact in our community and support your preferred causes and organizations into the future.
Types of Funds
The Catholic Foundation offers several types of charitable funds to meet your needs and desires for giving. Our staff is available to discuss these options and help you select the best fit for you.
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Donor contributions go directly to the unrestricted Philanthropy Fund, a permanent source of income to meet both immediate and emerging community needs. The Catholic Foundation’s Board of Directors determines where the gift will do the best, both in the present and in the future. Gifts of all sizes are accepted.
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A Donor Advised Fund enables donors to recommend grants to various Catholic and non-Catholic tax- exempt charitable organizations. The initial gift to set up a Donor Advised Fund is $10,000 or more, and additional gifts may be made at any time and in any amount thereafter. The fund may be recognized in the individual’s or the family name.
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A Designated Fund allows a focused charitable giving approach by specifying in your fund agreement, the charity or charities you want to support – such as a school, parish, or food pantry. The initial gift for a Designated Fund is $10,000 or more, and additional gifts may be made at any time and in any amount thereafter.
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An Endowment Fund provides a source of income for the charitable organizations of your choice during your lifetime and beyond. The Catholic Foundation manages Endowment Funds so that they exist in perpetuity, ensuring long-term financial support to the charitable organizations that mean so much to you. The initial gift for an Endowment Fund is $20,000 or more, and additional gifts may be made at any time and in any amount thereafter.
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A Memorial Fund is a charitable living memorial to a family member or friend. The initial gift for a Memorial Fund is $10,000 or more, and additional gifts may be made at any time and in any amount thereafter.
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Setting up a Scholarship Fund allows donors to support future education opportunities for promising students. Donors are able to set the criteria they wish to use, and the Foundation takes on the management, reporting and distribution requirements, including the selection and monitoring of scholarship recipients. The initial gift for a Scholarship Fund is $20,000 or more, and additional gifts may be made at any time, in any amount, and by any individual. Scholarship Funds are often named in honor or memory of a family member, friend, or teacher.