Are you sharing your treasures with the people of God in the best way you can? You are very good to your parish and the Catholic agencies you care about most. You participate in the Archbishop’s Annual Appeal and look to help where need suddenly arises. But have you thought about how you are making these gifts and whether you are looking clearly at the future of the Church and its ministries?
Does your parish have an endowment fund? Currently, the Catholic Community Foundation (CCF) holds 49 endowment funds for parishes within the Archdiocese. Endowment funds provide important perpetual income for the parish each year. Yet, that income depends on the size of the endowment.
Gifts to an endowment fund can come in many forms including cash and gifts of securities, e.g., stocks, bonds, mutual fund shares. Donors who are 70 ½ years or older should consider making gifts directly from their Required Minimum Distribution (RMD). Because current tax law sets itemization above $24,000, most people no longer itemize. But, using a portion of ones RMD to make charitable gifts actually reduces the taxable income for the year. These gifts need to be provided directly from your plan administrator. If you need help with this, please reach out to the Catholic Community Foundation (CCF).
Also, your retirement account as well as life insurance, bank and brokerage accounts can be used to make a bequest to your parish and/or other Catholic agency endowment fund. These are much simpler to do than through ones will. The will remains a very good way to do this too. There are other means of making a lasting gift to your parish’s endowment fund. Please contact us a CCF to discuss a best gift for you.
Should you decide to make a bequest to your parish and/or a Catholic agency endowment fund within the Archdiocese of San Antonio; or, if you have already done so, please reach out to CCF to let us know.
If your parish does not yet have an endowment fund at CCF, you can start one with as little as $5,000 and CCF will match an initial parish endowment dollar for dollar up to $5,000. All CCF funds are invested according to the United States Conference of Catholic Bishops’ guidelines for socially responsible investing.