A wide variety of plans are available to you to establish an endowment. Depending on your circumstances and desires, the Catholic Foundation can assit you with selecting the best plan to meet your personal, financial & philanthropic goals.
When considering the many ways you can benefit the church, the following guide is provided for your charitable planning with your legal and financial advisors together with our staff.
If you wish to sustain an annual amount to the church through a current gift or through a bequest, the table below demonstrates how endowments generate annual income. The minimum needed to establish a named endowment fund with the Catholic Foundation of Rhode Island is $10,000.
A GIFT/BEQUEST OF- - - - PROVIDES ANNUAL INCOME* OF
$10,000- - - - - - - - - - - - - - - - - - - - - - - - - - - -$500
$20,000- - - - - - - - - - - - - - - - - - - - - - - - - - - -$1,000
$100,000- - - - - - - - - - - - - - - - - - - - - - - - - - - $5,000
$200,000- - - - - - - - - - - - - - - - - - - - - - - - - - - $10,000
$500,000- - - - - - - - - - - - - - - - - - - - - - - - - - - $25,000
*For illustrations purposes, a 5% rate of interest is assumed
LATEST PRIORITIES:
Catholic Education Support and Scholarships, Catholic Charity Fund Appeal, Seminary Education and Formation Assistance, Endowment at the Catholic Foundation of Rhode Island, The Senior Priests Retirement Fund.
DISCRETIONARY ENDOWMENTS:
These endowments enable the Bishop of Providence to respond to the ever-changing needs of the Church to include Catholic education, ministry for the poor, spiritual and evangelical work.
PARISH ENDOWMENTS:
Parishes rely on the involvement and financial commitment of their faithful parishioners. An endowed gift to your parish will support your local Church in perpetuity.
CATHOLIC EDUCATION AND THE SEMINARY:
Catholic education continues the tradition of providing values-based academic excellence to more than 19,000 students in 58 Catholic elementary and secondary schools. As the cost of education rises, so does the need to keep Catholic education accessible to families. Tuition assistance, scholarship and general endowments are key to preserving these precious community resources. Young men preparing for the priesthood at Our Lady of Providence Seminary are also faced with increasing educational costs. Endowments for seminary formation assist seminarians in preparing for their vocation.
THE CATHOLIC CHARITY FUND:
Contributions to the Catholic Charity Fund, the best known diocesan wide fundraising effort, annually supports more than 40 agencies for social ministry, Catholic education, spirituality and evangelization. A permanent fund for the Catholic Charity Fund will endow your annual contribution and support the ministries that rely on your support today, tomorrow and beyond your lifetime.
OTHER OPPORTUNITIES:
The Catholic Foundation welcomes gifts that support all Catholic religious, educational and charitable organizations in the Diocese of Providence. Please look at our suggested wording for will bequests or to explore your philanthropic intentions for entities of the Diocese of Providence.
