- Where is the Catholic Foundation located?
The Catholic Foundation leases office space at the Catholic Center, 4200 N. Kentucky Avenue, Evansville, IN 47711. The mailing address is, The Catholic Foundation, PO Box 4169, Evansville, IN 47724
- What geographical area does the Catholic Foundation serve?
The Catholic Foundation serves the geographical area of the Diocese of Evansville. This is a 12 county area in Southwestern Indiana that serves 69 parishes, 30 schools and nearly 85,000 Catholics.
- How is the Foundation governed?
The Board of Directors governs all operations and actions of the Foundation. The Board represents all deaneries of the Diocese with a 25 member limit. The Board meets quarterly with committees meeting quarterly, as well.
- Who manages the Catholic Foundations’ funds?
The Board of Directors manages the portfolio of the Foundation’s funds. The Finance Administration Committee reports to the Board of Directors and is comprised of experts in the field of financial planning and investment management. Currently, the funds are being invested at Fifth Third. The Catholic Foundation conducts an annual audit with an outside Accounting Firm.
- Who determines how much each endowment beneficiary receives each year?
The Board of Directors determines the annual percentage that is made available each year in a distribution. The distribution is based on the average monthly balance of the endowment with the original gift remaining intact. Currently, the annual distribution is 4.25% to allow for inflationary growth within each endowment.
- How are the endowments protected as permanent gifts?
The Catholic Foundation is a separate not-for-profit corporation established to manage, grow and protect these permanent gifts. A legal agreement is created between the donor and the Catholic Foundation that determines the intent of the donor. Annual distributions are made while preserving the original gift.
- What options does the beneficiary have in taking the annual distribution?
The beneficiary of each endowment has three options:
- They may take the annual distribution in whole or in part.
- They may leave the distribution in the restricted portion of the endowment.
- They may elect to place the distribution into the unrestricted portion of the endowment, where the funds may be withdrawn at any time. The same rate of return is available for both restricted and unrestricted funds.
- Are funds invested in a manner in keeping with the tenants of the Roman Catholic Church?
Yes, careful attention by the Finance Administration committee ensures that investments are made in a socially responsible way that is in keeping with the teachings of the Roman Catholic Church.