Named Individual Funds

There are several different types of funds you may establish to sustain and advance your philanthropy in support of the mission of the Church. The nature of an Endowment Funds is that it is perpetual. With that in mind, distributions to the intended beneficiary and for the intended purpose from the fund are made from growth and earnings. The principal of the fund will not be invaded to make distributions. The endowment fund is generally funded with an initial gift and additional gifts during one’s lifetime. Many individuals also make deferred gifts to the endowment fund as a lasting legacy. Endowment funds can be established by a parish or school and added to by individuals or individuals themselves can establish an endowment fund in their name or the name of a loved one.

A Donor Advised Fund is not limited to distributions of only growth and earnings and generally are not limited to a specific beneficiary or purpose unless stipulated by the creator of the fund. Many donors find Donor Advised Funds to be a convenient way to further their philanthropic support. Recommendations can be made from time-to-time through-out the year and can be made anonymously if desired to any charitable organization with tax-exempt status, provided that it is not in contrast to Catholic social teaching.

With both types of funds, Endowment and Donor Advised, the creator of the fund has the ability to name additional and successor advisors to the fund. This is a wonderful way to involve succeeding generations in the work of philanthropy.

Contact us at 410-547-5356 to find out more information.