Ministry Life Fund
In some cases, placing funds into a permanent endowment may not be the best option for our diocesan ministries and outreach services. However, having a fund available for larger needs that may occur outside of budget planning would be very beneficial. For these situations, we recommend a Ministry Life Fund.
- Designated governing body of the ministry/outreach service manages the fund and can request two (2) distributions per year.
- Funds can be distributed until the corpus is depleted.
- Donors can direct to one of 5 designated uses within the fund: Program/Outreach, Ongoing Education and Formation, Facility, Capital Needs, or General (non-designated).
Details to Consider
- $10,000 minimum initial investment to establish the fund. Once the fund is established, other donors may contribute at any level.
- Comprised of new donations from supporters.
- Use must always honor donor intent (the designated use chosen at time of donation).
How We Assist
The Catholic Foundation will:
- Work with donor to define purpose of the gift (Program/Outreach, Ongoing Education and Formation, Facility, Capital Needs, or General/non-designated.
- Work with beneficiary to communicate areas of need to potential donors.
- Draft contracts and manage Fund establishment (if new).
- Facilitate calculation and distribution of bi-annual distribution to beneficiary.
- Report to donor on fund performance and use of distributions from the Fund.
To learn more about supporting your favorite diocesan ministry or outreach service through a Ministry Life Fund, please complete our Legacy Form.