Endowments
Endowments are created to honor a loved one, a saint or simply named for the entity that will benefit from the endowment, and will perpetually provide financial support to a parish, Catholic school, Catholic organization or ministry within the Archidocese of Oklahoma City. A portion of the earnings are distributed to the organization according to the spending policy established by the Foundation Board of Directors.
A Designated Endowment Fund allows you to narrow the focus of your charitable giving by specifying the particular charity you want to support – a parish, school, or food pantry, for example. The minimum initial contribution is $50,000, and the fund must be invested for twelve months before an initial distribution is made.
The possibility that the entity might cease to provide services at the expected level over time, or even cease to exist, is addressed by The Catholic Foundation's ability to shift the benefits to another organization whose mission is closest to the original intended charity so that your charitable intent is honored for all time.
A Field of Interest Endowment Fund identifies a specific need – youth or young adult ministry, catechesis, education, pastoral music or art, or other areas of interest. The minimum initial contribution is $50,000, and the fund must be invested for twelve months before an initial distribution is made.
The possibility that the entity might cease to provide services at the expected level over time, or even cease to exist, is addressed by The Catholic Foundation's ability to shift the benefits to another organization whose mission is closest to the original intended charity so that your charitable intent is honored for all time.
The board of trustees of the Catholic Foundation then oversees a grant process to meet that need. For example, The Catholic Foundation Administers multiple college scholarship funds. Once the terms of a scholarship fund are established (for example, qualifying schools or geographic area), the Foundation takes on management, reporting and distribution requirements, including the selection and monitoring of scholarship recipients and grant reporting.
• Initial Gift minimum: $50,000
• In order for distributions to occur, the fund balance minimum must be greater than the contributed amount.
• Additional gifts may be made at any time, in any amount.
• The fund may be named or, should you prefer, listed anonymously.