Frequently Asked Questions
Q. What is The Catholic Foundation and why does it exist?The Catholic Foundation is a non-profit, tax-exempt 501(c)3 organization, founded in 1997 by Bishop Robert J. Banks to encourage financial stewardship and generosity by providing an avenue for faith-based giving. The Foundation exists to assist individuals who wish to provide lasting financial support to religious, educational, and charitable organizations that serve the people of the Diocese of Green Bay and Catholic causes outside the diocese.
Q. How does The Catholic Foundation serve the Diocese of Green Bay?
The Foundation makes distributions and grants from more than 100 restricted funds as designated by donors to benefit Catholic parishes, schools, and other Catholic organizations, primarily in Northeastern Wisconsin. The Catholic Foundation also: conducts the annual Bishop’s Appeal to benefit the ministries and services of the Diocese of Green Bay; and manages special collections for World Missions, seminarian education, and retired religious, and specialized campaigns for Camp Tekawitha, Holy Name Retreat House, and the Shrine of Our Lady of Good Help.
Q. Who governs The Catholic Foundation?
The Board of Directors governs all operations and actions by the Catholic Foundation. The board meets quarterly. Its committees meet regularly to conduct Foundation business. Directors consist of Catholics from all walks of life and reflect the diverse experience of the Diocese.
Q. What are the benefits of working with The Catholic Foundation?
The Catholic Foundation offers many benefits for donors, including: the convenience of using a single source to give to numerous charities; expert assistance and advice tailored to your needs and interests; tax advantages; a possible increase in income from assets for the donor or the donor's family; and possible wealth replacement to heirs for charitable gifts in trust. The Catholic Foundation is an ideal place to help donors earn more, keep more of what they have worked hard to earn, and to provide more support for those in need than may be thought possible.
Q. Why should I consider an endowment rather than an outright gift?
First, endowments are not just for very wealthy people or big institutions. Rather, an endowment is for anyone who wants to help their favorite charities forever. Using an endowment means permanently investing the gift and annually distributing its income to support the designated charities forever.
Q. How do I make a gift to The Catholic Foundation?
Gifts can be made to the Foundation at any time. Many donors give cash and appreciated assets. Foundation staff are happy to help you design a gift that meets your personal needs and charitable goals.
Q. Is there a minimum dollar amount I need to have to work with the Foundation?
No. Most endowments are opened with $5,000 or more, but the Catholic Foundation will assist anyone who to fulfill their charitable intentions, regardless of the amount.
Q. Can I pick who I want to benefit from my gift?
Absolutely. Funds are always distributed as specified by the donors. Some people choose not to make a designation. In those cases their gift goes to the Bishop’s Greatest Needs Fund, where the diocese’s Bishop decides which needs will receive funding.
Q. Can the Diocese ever claim funds from the endowment, in all or in part?
No. As a legally established investment contract, the endowment can never be closed or used in any way other than what was specified when the endowment was established. The funds are not diocesan funds and are not the property of the Diocese.
Q. Do I have to be Catholic to have a relationship with The Catholic Foundation?
No. The Catholic Foundation welcomes participation from anyone interested in helping support the work of the Church and wishing assistance in fulfilling their charitable intentions.
Q. Can I include other organizations besides The Catholic Foundation in my arrangements?
Yes. Benefactors may designate multiple charitable beneficiaries. It's one of the many ways the Catholic Foundation can help make your generosity toward others more pleasant and convenient, leaving you more time to enjoy the act of giving.
Q. Do I need my own lawyer or financial professional?
It's important that donors feel completely comfortable in their relationship with the Catholic Foundation. Thus, many benefactors get considerable peace of mind in using their own lawyer, CPA, Certified Financial Planner or life insurance professional to review arrangements or even to prepare the appropriate documentation. The Foundation works with top professionals in the legal, accounting, and financial planning fields to meet the charitable needs of our benefactors.
Q. Can I use the Catholic Foundation to recommend gifts to benefit non-Catholic organizations or entities outside the Diocese of Green Bay?
Yes, if at least a portion of the gift benefits a Catholic organization. It is also important to remember that the Catholic Foundation may not be associated with any organization whose practices conflict with tenets of the Catholic faith or the mission of The Catholic Foundation. Please contact us with specific questions about the feasibility of a proposed gift.
Q. Can the recipient ever close the endowment and use the entire funds for current need?
No. As a legally established investment contract, the endowment can never be closed or used in a way not set out in the establishment contract.
Q. Who keeps track of the investments and donations?
Catholic Foundation administrators, the trust company with whom the Foundation works, and an independent accounting firm each track contributions and investments. The Catholic Foundation’s investment committee also monitors all investments and donations.
Q. Are funds invested in a way that agrees with the tenets of the Roman Catholic Church?
Yes. The Foundation strictly adheres to the policies set forth by the U.S. Catholic Conference of Bishops. All investments are made in a socially responsible way in keeping with teachings of the Roman Catholic Church.
