Why I Suggest the Catholic Community Foundation

09-14-2019NewslettersDcn. James Carabajal, CEO

Since 1983, the Catholic Community Foundation serving the Diocese of Phoenix has administered charitable funds for individuals, parishes, schools, area Catholic organizations, and other special Catholic community projects.  Many of these funds are “endowment funds” which are structured to serve their charitable purpose(s) in perpetuity.  Other funds are “pass-thru funds” which are temporary charitable vehicles that immediately fulfill their charitable purposes.  There are many solid reasons why donors choose to entrust their charitable dollars with us. Here are but a few reasons.

Protection of your Gifts and your Legacy

The Catholic Community Foundation guarantees adherence to the original purposes of each of its funds.  Donors can be assured that grants from their fund will be distributed in a manner consistent with the fund’s original intent. The Catholic Community Foundation assumes the responsibility for the secure investment of all its funds, especially during these litigious times. We have mitigated lawsuit risk by having a specialized focus coupled with a limited operational exposure. Within the broadly designated guidelines suggested by donors, the Foundation strives to maximize annual income or to build fund principal, in accordance with the fund purpose. Currently, the Foundation uses the investment services of our local financial partner, JP Morgan Chase. Working with a diverse local institution ensures careful attention to Foundation assets.

We strive to offer a better investment return to each participating fund within the Foundation through (1) the pooling of assets, (2) the diversification of investments, and (3) the reduction of costs to any one fund through shared expenses. Donors can feel comforted that gifts given today to the Foundation will be available to serve compatible charitable purposes until what I like to say, “when Jesus comes again.”

Administrative Services

The Foundation acknowledges all donations accepted for deposit in a fund in a timely manner. An accounting of all receipts and expenditures within a fund is furnished on a basis appropriate to the nature of the fund. A listing of all donors to each fund will be provided for recognition purposes. Distributions are made in accordance with the terms establishing each fund. Fund statements are sent to individuals and organizations maintaining funds with the Foundation. All government reporting requirements and financial statement audits are completed by the Foundation for all funds. The Catholic Community Foundation keeps current on changes in the tax laws and other legislation that affect charitable giving. We work to attract additional support for all its funds through its publications and newsletter. The Foundation development and finance departments field telephone calls and written requests for information on behalf of each individual fund.

Catholic Social Investment Screening

The Catholic Community Foundation adheres to the United States Conference of Catholic Bishops guidelines for Socially Responsible Investing. We strive to exercise faithful, competent and socially responsible stewardship in how it manages its resources – “your gifts”. Partnered with JPMorgan Chase, we screen investments the Foundation is considering adding to its pooled assets. Potential investments in corporate instruments are reviewed for the protection of human life, promote human dignity, pursue economic justice, protecting the environment, and encouraging corporate responsibility.

Other Benefits

All gifts to the Catholic Community Foundation are tax deductible. Through affiliation with the Foundation, each fund affords its donors maximum tax advantages. Foundation funds can be established for a wide variety of charitable purposes: (1) to one or more fields-of-interest, such as Catholic education, Catholic health and welfare services, and Catholic youth-related needs; (2) to one or more specific charitable organizations, such as a parish, a nonprofit Catholic agency, a designated private Catholic school, a cultural institution; and, (3) for unrestricted purposes which authorize the Foundation to allocate grants for emergencies, for newly identified needs, or to current worthwhile community projects.

Banks are not receptive to managing individual accounts under certain dollar amounts. Individuals and organizations with their own accounts must constantly monitor their returns, be aware of market trends and make investment decisions without many times the benefit of investment professional guidance. The Catholic Community Foundation is an efficient alternative. As the Foundation grows, its ability to realize greater investment returns increases as well. By investing in a pool of charitable capital which continues to attract additional participants, each individual fund should benefit accordingly.

I invite you to be a part of the Catholic Community Foundation; individuals and organizations receive the benefit of association with a well-respected institution which has served the Catholic community within the Diocese of Phoenix for 36 years. Give us a call today to learn more about your giving options, 480.651.8800.

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