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Frequently Asked Questions

Are funds invested in a manner in keeping with the tenants of the Roman Catholic Church?

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.

Can I donate my car, my farm, my home, a diamond ring?

Yes. A gift of personal property can be a wonderful means of making an endowed gift and bring you possible tax savings as well.

Can the Archdiocese of Miami ever claim funds from the endowment, in all or in part?

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.

Do I automatically get a tax deduction by making an endowed gift?

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.

Does the beneficiary have to take a disbursement each year?

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.

How is the Foundation governed? Does its Board of Directors meet?

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.

What geographical area does the Catholic Community Foundation serve?

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.

What qualifies as an endowed gift? How much do I need to give?

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.

Where is the Catholic Community Foundation’s office?

We are located in the Pastoral Center of the Archdiocese of Miami, 9401 Biscayne Boulevard, Miami Shores, FL 33138.

Who determines how much money each endowment beneficiary receives each year?

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.

Who keeps track of the investments and donations?

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.

Who manages the Catholic Community Foundation’s funds?

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.

Who pays for the operation of the Foundation office?

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.

Are endowment funds charged any fees for their management?

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.