Type of Funds
A donor or organization may choose to open a restricted fund, designated to a specific parish, school, ministry or charity, and the money will be distributed annually for that purpose based on the designation. In the case of an unrestricted fund, like the Catholic Schools Fund, schools seeking funds will apply for a grant based on the purpose and criteria set forth in the fund agreement. The foundation’s Board of Directors will make grants based on the fund purpose and criteria. Most funds can be established for a minimum of $10,000.
A fund that helps protect and grow medium to long-term assets while receiving relatively even annual distributions. Endowments are designed to serve the beneficiaries in perpetuity and are often established with a charitable gift or from an estate designated to support a specific parish, school, ministry or charitable purpose.
Similar to an endowment fund, a reserve fund is established with the intent to protect and grow the assets while maintaining even annual distributions, but allows the beneficiary access the principal in emergency situations.
Funds held, managed, and invested for a designated cemetery in accordance with state and federal law, including, but not limited to, the restrictions imposed on the use of the income and principal of perpetual care funds under 18 V.S.A. Chapter 121: § 5306.
For a minimum of $25,000, a donor can make a charitable contribution, receive an immediate tax benefit and then be involved in recommending grants from the fund over time.
For a minimum of $25,000, a donor or organization can create a scholarship fund based on financial need or academic achievement for students attending Catholic schools.
A parishioner can make a bequest in their will to a specific fund or establish a fund and leave a legacy of faith for generations to come.