Parishes
Supports the ministries, divine worship, faith formation, outreach, and evangelization of the Parish. The fund may also be used for financial sustainability and long-term capital needs of the Parish.
An endowment is a special type of investment in which the principal (the initial donation) is held in perpetuity and only the earnings are used for the cause the donor chooses. Endowments enable a lasting financial impact while staying true to the original donor’s wishes: an endowment cannot be used for anything other than the original beneficiary. Donors who set up an endowment have complete control over who receives distributions from the endowment.
Most new endowments must exist for at least 5 years before the funds can be distributed. After that, distributions are typically made once a year.
As stewards of your gifts, we know that we have a great responsibility to see that donations are invested wisely and used for good—both in the endowments they support and in the companies that benefit from the investment.
For that reason we and our advisors adhere strictly to the United States Conference of Catholic Bishops guidelines for socially responsible investing. These guidelines outline clear principles so that faithful Catholics can align their investments with the values and teaching of the Church, but at their core they are designed to avoid harm, work towards positive change, and promote the common good.
While the Catholic Foundation of South Georgia exists to sustain the parishes, schools and ministries of the Diocese of Savannah, the Foundation is a separate 501(c)(3), completely independent from the Diocese of Savannah. The Foundation’s governance is by a Board of Trustees, and the structure allows for independent operating and investment decision-making as well as the protection of assets.
Yes, most Catholic dioceses in the United States have foundations that hold assets to support the work of the Church. Money is usually raised for Catholic Foundations through major and estate planning opportunities. Foundations have become the preferred giving mechanisms for many benefactors who appreciate the transparent, professional management of the resources they donate.
The Annual Catholic Appeal is just that, an annual appeal. The money collected by the Annual Catholic Appeal each year is distributed to ministries, programs, and rural churches of the Diocese of Savannah to support them, one year at a time. The Annual Catholic Appeal is run and managed by the Diocese of Savannah, not The Catholic Foundation of South Georgia.
In contrast, the Catholic Foundation of South Georgia provides perpetual support to the parishes, schools, and ministries of the Diocese of Savannah through restricted and endowment funds as well as other fundraising initiatives.
Your gifts to endowment funds at the Foundation will provide long-term funding to the parishes, schools, and ministries of your choice. We do not discourage donors from making gifts directly to Catholic organizations, but rather, provide an alternative for those who wish for their gifts to have a longer-lasting impact.
An endowment fund is money invested to earn revenue to fund some type of charitable activity. The principal value of an endowment fund is kept intact, while the investment earnings are distributed for charitable purposes as determined by the donor. Thus, an endowment fund can be held permanently, allowing you to support causes you care about in perpetuity.
The Catholic Foundation of South Georgia’s mission is to sustain the local Church for future generations; therefore, we welcome the establishment of Donor-Designated Endowment Funds and Donor-Advised Funds that benefit the Catholic parishes, schools, and ministries of the Diocese of Savannah.
While tax benefits are not the primary reason most donors choose to work with the Foundation, our assistance in helping you understand the tax benefits of various funds is invaluable. Many donors find that they are able to contribute more than they had initially planned once they realize the tax benefits.
The Catholic Foundation of South Georgia cannot serve as your tax, legal, or financial advisor, but we can speak knowledgeably with you and your advisors and provide the documentation you need to take advantage of the tax benefits of charitable giving.
Yes. The Catholic Foundation is a separate entity. No one can appropriate funds from the foundation for any purpose other than those specified by the donor.
Yes, you may support Diocesan Catholic ministries, your parish, a Diocesan Catholic school or organization through an estate gift to the Foundation. Charitable estate gifts may include a gift designation in your will, your retirement account, life insurance policy or charitable trust. These gift designations come with certain tax benefits.
Please use the following standard language:
I give and bequeath cash in the amount of $X to The Catholic Foundation of South Georgia, Savannah, Georgia (Taxpayer ID No. 20-0184774), or its successors and assigns, for _____ endowment.
There is no cost to establish a fund at the Catholic Foundation. An annual fee, determined by the Foundation Board of Directors, is applied to all funds and used to cover investment and administration costs of the Foundation.
When doing any estate planning or major giving it is recommended to consult with your own lawyer, financial advisor or life insurance professional to review arrangements or prepare appropriate documentation. The Catholic Foundation of South Georgia is available to provide general information about the types of giving opportunities and ways to give and welcomes the opportunity to work with you and your advisor(s) any time during the process.