Yes. Careful attention by the Investment Advisory Committee ensures that investments are made in a socially responsible way that is in keeping with teachings of the Roman Catholic Church.
Yes. A gift of personal property can be a wonderful means of making an endowed gift and bring you possible tax savings as well.
No. As a legally established investment contract, the endowment can never be closed and used in a way not set out in its establishment contract. Except for endowments opened in the name of the Archdiocese of Miami, the funds are not archdiocesan funds and are not considered in any way property of the Archdiocese.
Not Automatically. But generally, there are many tax advantages to such gifts. By working with a personal financial planning professional and the Catholic Community Foundation, a donor can realize tremendous tax savings on most endowed gift arrangements.
No. A beneficiary can elect to forego a disbursement for any single year or for several years. The allowable distributable income remains in the endowment account, becoming part of the corpus of the fund.
The Board of Directors of the Catholic Community Foundation governs all operations and actions by the Foundation. The Board meets quarterly. Its committees are working committees that meet more frequently also on a regular basis to conduct business of the Foundation.
We serve the geographical area of the Archdiocese of Miami, which includes Broward, Miami-Dade and Monroe counties. The work of the charitable endowments managed by The Foundation affects a wider swath than the parish community. In terms of accepting funds for endowments, we can work with a donor who is next door or literally on the other side of the world.
To add to an endowment, a gift of any value can be put to excellent use to assure the future of the Church in South Florida. To open a new endowment, the donor or donors must have $25,000 for the corpus.
We are located in the Pastoral Center of the Archdiocese of Miami, 9401 Biscayne Boulevard, Miami Shores, FL 33138.
Endowments are established with individual spending policies. Typically, the income distribution is calculated as 5% of a 3-year rolling average of the fair market value of the endowment’s value.
The Foundation office, the trust company with whom the Foundation works, and an independent accounting firm each track contributions and investments. The Investment Advisory Committee also monitors all investments and donations.
An Investment Advisory Committee, chaired by a member of the Board of Directors, oversees the invested funds. The Committee comprises experts in the field of financial planning and investment management. The Committee makes investment recommendations to the Board of Directors. The full board must vote before action is taken.
The CCF’s operational costs are sponsored by the Archdiocese of Miami and its offices are located at the headquarters of the Archdiocese. The Foundation is not charged rent, labor costs or other administrative expenses by the Archdiocese for the use of its offices, employees or other resources, respectively.
Yes. However, only direct investment advisor, investment manager, legal and auditing fees are charged annually to each fund. Every attempt is made by the Catholic Community Foundation to keep these costs to a minimum. Compared to other endowed funds, these fees are very low.