The Catholic Community Foundation of San Diego supports 2 major types of funds. Any individual or institution can establish a new fund or add to an existing fund by making an irrevocable gift to the Catholic Community Foundation of San Diego. These funds may be tailored to fit a general or specific charitable interest. Consistent with the “donor-centric” mission of the Catholic Community Foundation of San Diego, all distributions from these funds are directed by the donor.
Endowment Funds are permanent funds intended to provide long-term support for charitable Catholic organizations. The principal for these funds is protected forever – thus allowing the fund to support its intended purpose in perpetuity, far beyond the donor’s lifetime. Endowments provide a stable, predictable source of income for Catholic organizations. Earnings from these invested funds are distributed through grants in a manner consistent with the donor’s designated purpose of the fund and timing of grant distributions.
There is no minimum annual distribution required; the maximum grant distribution is determined annually by the Foundation’s Board of Trustees. Grant distributions may be made to any Catholic 501(c))(3) nonprofit organization. Donors may add capital to Endowment Funds at any time to increase the Fund’s principal and earnings potential.
Non- Endowed Funds are fully-expendable, non-permanent funds that offer a convenient and flexible way for donors to contribute to a wide variety of charitable causes. It allows a donor to make a charitable gift donation, receive full and immediate tax benefits in that calendar year and grant from that fund in the current or future years without timing or minimum payout restrictions.
A key benefit to these funds is that the donor receives a single tax receipt for each gift’s fully-appreciated value. Additional donations may be made in the same or subsequent calendar years. Beneficiaries may include charitable organizations that are eligible 501(c)(3) nonprofit organizations whose missions are not inconsistent with Catholic values. Donors may designate that the funds remain static or invested depending on the length of time the donor intends to keep the fund open.
Following the decision to create one these two fund types, the donor specifies one of the following four fund categories to designate the fund’s specific purpose and future grant distributions:
These funds may be used to provide grants for any purpose consistent with the charitable mission of the foundation, as determined by its Board of Trustees.
These funds are established by donors who have a range of charitable interests and wish to participate in the future grant-making process for the fund. The donor may recommend religious, educational or charitable organizations for grants, provided the organization meets certain requirements, including being an eligible 501(c)(3) nonprofit organization. The recommended organization must also operate in a manner consistent with Catholic values.
Designated Beneficiary Funds
These funds are established for specific religious, educational or charitable organizations that are near and dear to the heart of the donor. Grant distributions are made to the designated organization, consistent with the specific intent of the donor.
Field Of Interest Funds
These funds are intended to address needs of an important area of focus for religious, educational or charitable organizations. Examples include Catholic education, youth ministries, vocational training and parish music ministries.