A gift to establish an endowment fund demonstrates farsighted commitment to the mission of the Foundation. An endowment is a fund that is maintained in perpetuity and a portion of the annual return is used for the purposes specified by the donor. Such endowments, which typically bear the name of the donor or donors, reflect your interest and serve as an enduring testament to your generosity.
There are several types of endowment funds:
Undesignated - These types of funds provide the Foundation's Board of Trustees with maximum flexibility to direct funds where they are needed most. There are currently two undesignated general endowments of this type: the Catholic Education Endowment Fund and the Catholic Charities Endowment Fund.
Designated - These are funds that are established with special language that directs the Foundation to use annual earnings to support a specific ministry, organization, or program as identified by the donor.
Scholarship - These funds are created to provide annual support to students to attend Catholic elementary and secondary schools within the diocese. Generally a specific set of guidelines are drafted to accompany each new scholarship fund setting forth eligibility requirements, etc.