Frequently Asked Questions
- What is the Catholic Foundation of the Diocese of Sacramento?
- Why is the Catholic Foundation needed?
- How does it work?
- Where do the endowment funds come from?
- What are some of the ways I can make a planned gift?
- How do I leave my parish a gift in my will or living trust?
- Will the Catholic Foundation accept a non-cash gift to benefit my parish or organization?
- Who manages The Catholic Foundation?
- How are the endowment funds invested?
- How are the earnings distributed?
- Why should you become a participant in The Catholic Foundation?
- What assistance is available from the Catholic Foundation?
- How can I help?
- What is the Federal Tax ID for The Catholic Foundation of the Diocese of Sacramento, Inc.?
- Who are the Investment Advisors for The Catholic Foundation?
- What is the role of the Investment Committee of The Catholic Foundation?
What is the Catholic Foundation of the Diocese of Sacramento?
The Catholic Foundation of the Diocese of Sacramento, Inc. provides a way for you to support the many ministries of the parishes, schools and agencies of the Diocese of Sacramento. Established in 2004, the Foundation's focus is to ensure a strong financial basis for continuing services to the faith community in the 20 counties of Northern California for years to come. The Foundation is a not-for-profit corporation which operates in support of the Diocese and is managed by an appointed Board of Directors.
Served by faith-driven, professional staff and advisors, the Catholic Foundation works with generous donors from all walks of life who have contributed outright gifts, bequests, and gifts in trust, endowments and other types of gifts to support the works of the Church in the diocese, where the assets are received and managed.
Why is the Catholic Foundation needed?
- To provide service to help parishes, schools, agencies and institutions develop perpetual funding sources
- To exercise responsible stewardship of endowment funds through professional management and investment policies.
- To promote the unity of Catholic institutions and services throughout the Diocese of Sacramento to provide an additional source of support for diocesan programs and services.
- To provide an additional source of support for diocesan programs and services.
How does it work?
The Foundation holds many individual endowment funds for the benefit of parishes, schools and agencies of the diocese. Each year, an endowment's earnings are used to help finance the specific purpose for which the donor(s) created it.
Where do the endowment funds come from?
The best source for endowment funds is from Planned Gifts. Planned Gifts include: Bequests through Wills, Charitable Gift Annuities, Charitable Remainder and Lead Trusts, Life Insurance instruments, and Retained Life Estates, to name a few. Because of favorable governmental regulations for these planned gifts, significant tax advantages are available to interested parishioners with charitable intentions.
What are some of the ways I can make a planned gift?
There are many ways to make a planned gift and contribute to an endowment. You can make a planned gift and/or contribute to an endowment by:
- Giving a gift through your will (bequests)
- Giving a sizable gift at a small cost (life insurance gifts)
- Giving gifts that pay an income for life (charitable remainder gifts)
- Giving a home but continuing to live there (life estate arrangements)
How do I leave my parish a gift in my will or living trust?
If you already have a will or living trust, you can amend them to make a gift without rewriting the entire document. An attorney can prepare a codicil to your will that adds a new bequest to the parish while reaffirming the other terms of your will. Similarly, your attorney can prepare an amendment to your living trust to add the parish as the beneficiary.
Will the Catholic Foundation accept a non-cash gift to benefit my parish or organization?
We have established a Gift Acceptance Policy to protect the donor, the parish school or agency, the Foundation and the Diocese. If you have question about a non-cash gift, please consult our policy or give us a call. Accepting gifts of real estate is more complicated. If you are considering a gift of real estate, please contact us directly.
Who manages The Catholic Foundation?
The Catholic Foundation is managed by a fiduciary Board of Directors representing many professional fields of expertise and areas of the Diocese. As Chairman of The Catholic Foundation, the Bishop appoints the Board of Directors. The day-to-day management of the foundation is accomplished by The Executive Director. Additional day-to-day management resources are provided by Chief financial Officer and finance staff of the Diocese of Sacramento pursuant to a formal contract for services. Christian Brothers Investment Services, Inc. serves as Investment Advisors for assets of the Foundation.
How are the endowment funds invested?
Participants select from three options depending upon their investment needs and objectives. The three investment options are: The Income Fund, The Mid-Income, and The Growth Fund. The three funds cover the spectrum of risk and offer varying asset allocation options. All participant funds are invested in accord with our Social Responsibility Guidelines where social and moral responsibility for investments is guided by Roman Catholic social and moral teaching. So, the "stewardship of resources" goes beyond simple fiduciary responsibilities of ensuring acceptable return on investments. Investments must reflect commitment to other values as well, such as the sacredness of life, the dignity of the individual, collaboration, and the care for the poor.
How are the earnings distributed?
All participant account earnings may be: 1) semi-annually withdrawn; 2) accumulated as earnings for later withdrawal; or 3) returned in part or whole to the principal (corpus). The original principal (corpus) plus the other permanent contributions cannot be withdrawn. Donor Advised Fund distributions can be made at any time, subject to the agreement terms.
Why should you become a participant in The Catholic Foundation?
Many donors prefer to perpetuate their gifts through an endowment program, providing a perpetual source of earnings income for their most cherished organizations and intentions. Individuals might prefer, through Donor Advised Funds, the ability to provide for periodic distributions of both earnings and their original gift(s) to their favorite non-profit organizations. Organizational participants of The Catholic Foundation publicly position their parish or school in the minds of parishioners for such gifts.
What assistance is available from the Catholic Foundation?
Because planned giving can be a complex subject, we are ready to streamline and simplify all planned giving efforts for your parish, school or agency. The Catholic Foundation offers the following services:
Promotions: The Foundation has marketing information to help promote the concept of planned giving. Brochures, bulletin articles and Mass Announcements are available and can be customized for your parish, school or agency.
Seminars: Foundation staff members will work with your parish, school or agency and with local professionals to present seminars and to assist in marketing these seminars. All seminar attendees receive materials updating them on the opportunities and benefits of planned giving. Any and all follow-up leads are shared with the parish, school or agency. All attendees are entitled to free and confidential proposals and consultations regarding their proposed gifts.
CONFIDENTIAL PROPOSAL AND CONSULTATIONS
The Foundation staff is equipped to provide personalized and confidential gift proposals and is always available to assist in the individual consultation
THE CATHOLIC FOUNDATION PLANNED GIVING COMMITTEE
This committee of Catholic professionals from throughout the diocese serve as a valuable resource to The Catholic Foundation and to individual donors and their advisors regarding any planned giving question.
How can I help?
- By becoming a partner in the work of the Foundation to preserve and promote our Catholic heritage in our diocese.
- By making an immediate gift of cash, securities, real estate or other property.
- By providing an estate plan gift in your will, life insurance policy, or trust agreement.
Remember...planned gifts and endowments are wonderful opportunities to be stewards of the Church for future generations.
To learn more about the Catholic Foundation of The Diocese of Sacramento, and how you can become involved, contact:
The Catholic Foundation of the Diocese of Sacramento, Inc.
P.O. Box 189400
Sacramento, CA 95818-9400
Phone: (916) 733-0266
Fax: (916) 733-0195
What is the Federal Tax ID for The Catholic Foundation of the Diocese of Sacramento, Inc.?
The Federal Tax ID for The Catholic Foundation of the Diocese of Sacramento, Inc. is 20-0487827.
Who are the Investment Advisors for The Catholic Foundation?
Christian Brothers Investment Services, Inc. (CBIS) serves as investment advisors for assets of The Catholic Foundation. All funds are invested in accordance with the United States Conference of Catholic Bishops' Socially Responsible Investment Guidelines where investments are guided by Roman Catholic social and moral teaching. So, the stewardship of resources goes beyond simple fiduciary responsibilities of ensuring acceptable return on investments. Investments must reflect commitment to other values as well, such as the sacredness of life, the dignity of the individual, collaboration, and the care for the poor.
Overall, CBIS manages approximately $3.7 billion for Catholic organizations seeking to combine faith and finances through the responsible stewardship of their assets.
What is the role of the Investment Committee of The Catholic Foundation?
The role of the Investment Committee of the Catholic Foundation is to provide strategic input thereby ensuring strong investment performance, efficient administration, and consistent endowment growth. They accomplish these goals by advising on the Foundation's investment policies; selecting and retaining investment advisors; reviewing financial reports for timeliness, accuracy and propriety; and monitoring performance of the Foundation's portfolio.