Open a Fund
Our Development team is experienced, knowledgeable, and focused on helping you maximize your charitable goals. We share a passion to help your generosity do the most good for our Catholic community. Please contact a member of our team to guide you through the process of creating your customized giving plan.
Recommended Minimum Amount to Open Funds
- Donor Advised Fund: $10,000
- Endowment: $10,000
- Scholarship Endowment: $10,000
- Charitable Gift Annuity: $10,000 first annuity/$5,000 subsequent
- Trust: $100,000
Frequently Asked Questions
Must the beneficiary of my fund be Catholic?
No, but the beneficiary cannot conduct business contrary to Catholic teaching.
Must the beneficiary be in the Diocese of Houma-Thibodaux?
No. As long as the beneficiary is a nonprofit and follows Catholic Social Teaching, the Catholic Foundation can make a gift to the organization.
Are the Catholic Foundation Funds managed separately from the Diocese of Houma-Thibodaux Funds?
Yes. The Catholic Foundation is a separate 501(c) (3) organization, where all funds are managed by the Foundation. The Foundation currently uses Mission Diocese Fund for all investments. Funds can only be appropriated based on the sole purpose for which the funds are specified and restricted for.
Does The Catholic Foundation invest funds in accordance with Catholic teaching?
Yes. We follow USCCB Guidelines and our Finance Committee annually reviews our Investment Policy and fund performance.
What is the benefit of working with the CFSL?
The Catholic Foundation makes donors charitable giving simple and impactful. It offers a convenient was to use a single source to give numerous charities, expert philanthropic advice, tax advantages, and assurance that your funds are being morally invested. For parishes, schools, and ministries, the Foundation provides philanthropic and stewardship services to develop perpetual funding sources for your organizations.
How does the Catholic Foundation work with my lawyer and financial advisor?
The Catholic Foundation of South Louisiana works in partnerships with a donors professional advisors to develop your charitable giving and/or your estate planning based on your wishes. We encourage your professional advisors such as accountants, estate planning attorneys, and financial planners are part of your charitable giving decisions.
What is the benefit of the Catholic Foundation rather than a Family Foundation?
Private foundations allow you to continue involvement with your charitable assets, however, can be time consuming and costly to maintain appropriately. Private foundations are also required to distribute 5% of its net investments in order to not incur IRS penalties. Establishing a Donor Advised Fund with the Catholic Foundation of South Louisiana you can enjoy the same great benefits of a private foundation without the financial expense nor IRS reporting requirements. The Catholic Foundation can assist in your grant making recommendations, vetting nonprofits, and complete your anonymity, if desired. For more information about Donor Advised Funds please call 985-850-3116 for a confidential conversation today.
Can I make a gift of stock? What other types of assets?
Yes, the Catholic Foundation accepts gifts of appreciated stock, in fact, it is often more beneficial to make a gift of appreciated stock rather than liquidating it. The Catholic Foundation is also equipped and knowledgeable in accepting other complex gifts such as real estate.
How to Set Up a Fund:
Endowment Funds
Choose the name of the fund (can be named after self, family members, as well as organization or organizations benefiting from the fund), the charitable beneficiary or beneficiaries of the fund, and a contingent charitable beneficiary in the event money cannot go to the primary beneficiary or beneficiaries (such as because the primary beneficiary or beneficiaries cease to exist).
Other information about endowments:
Once a year, a percentage of the endowment is given to the donor’s chosen beneficiary or beneficiaries.
An individual may continue to donate to the endowment after the initial donation to establish the endowment. And, anyone can donate to the endowment after it is established.
Donor Advised Funds
Choose the name of the fund, the fund advisor or advisors (who make distribution suggestions), successor advisors to the fund (if desired), and a charitable beneficiary or beneficiaries who would receive money in the fund upon the fund’s closing.
Also, the fund founder has the option to choose The Catholic Foundation’s conservative, moderate or growth investment pool.
An individual may continue to donate to the donor advised fund after the initial donation to establish the fund. And, anyone can donate to the donor advised fund after it is established.
The minimum distribution amount is $50. There is no minimum amount that must be retained in the fund.
Scholarship Funds
Choose the name of the scholarship, the criteria for the scholarship award, and the amount of the scholarship award. Also, scholarship founder has option to determine if a committee will recommend the scholarship recipient, or whether the scholarship recipient will be chosen by an academic institution.
An individual may continue to donate to the scholarship after the initial donation to establish the fund. And, anyone can donate to the scholarship after it is established.
Charitable Gift Annuity
Choose the individual or individuals who will receive the lifetime income from the annuity as well as the charitable beneficiary upon the death of the annuitant or annuitants.
An individual cannot add money to an annuity, but an individual can set up multiple/subsequent annuities.
Trust Fund
Option One (Charitable Remainder Trust):
Choose the individual or individuals who will receive income from the trust for a period of years or for lifetime. Also, choose the charitable beneficiary upon the termination of the trust.
Option Two (Charitable Lead Trust):
Choose a charitable beneficiary who will receive income from the trust for a period of time, and then the individual or individuals who will receive money in the trust after that period ends.
Under either option, determine whether the trust payments are fixed or variable. A trust with fixed payments is an annuitized trust, and an individual cannot add money to the trust. An individual can add money to a trust with variable payments.