Home
Transfer of Wealth
Donate Online Now
About the Foundation
Types of Funds
Current Fund List
Current Scholarships
Information for Donors
Information for Advisors
Apply for a Grant
Foundation in the News
Donor Central
Catholic Diocese of Salina
Community Foundation
of the Diocese of Salina
103 N. Ninth St.
Salina, Kansas 67401
785.827.8746
Types of Funds
The Catholic Community Foundation provides great flexibility in helping you created endowed funds when you want for the purposes you want.
When You Want: You and your family can start a fund now, leave instructions for a fund in your will, or create a fund through a trust arrangement that benefits your family and the charities you wish to support. You can also use a variety of assets to start your fund: cash, securities, stocks, real estate, life insurance, tangible personal property, or private foundation assets. Tax benefits occur at the time of your gift and according to the asset donated.
For the Purposes You Want: The Catholic Community Foundation exists to help you accomplish your Catholic philanthropic goals. We have a variety of funds available to meet your charitable interests. Please note that you can give any size gift to any existing fund. Minimums only refer to creating a named fund. You have up to five years to reach the minimum level required.
The Bishop’s Fund: This is an unrestricted fund that benefits the entire Diocese. Parishes and other agencies will be able to apply for grants from the fund, which will awarded by the Bishop after consultation with the board of directors. You may make any size gift to the Bishop’s Fund.
Those making gifts of $5,000 or more will be named under the fund in all Foundation materials.
Designated Funds: Donors may designate one or more specific Catholic organizations such as their parish, the diocese, or specific ministries to receive annual grants from their endowed fund. The Foundation administers the gifts to the charities annually. Donors may select the fund name. $10,000 minimum.
Donor-Advised Funds: The donor may suggest grants from the fund each year. Although the IRS requires that the Foundation have variance power over the fund, the Foundation will accept the donor’s recommendations as long as half the grant money in any year goes to Diocesan ministries or organizations, the grant does not conflict with Catholic social and moral teaching, and the request is charitable and legally permissible. Donors may select the fund name. $10,000 minimum.
Organization Funds: These funds are established by or for Diocesan parishes and organizations as a source of long-term endowment and annual income. Funds are named for the organization. $10,000 minimum, five years to create.
Field of Interest Funds: These funds create grants that meet needs in a particular field within the Diocese that is of interest to the donor. Donors may select the fund name. $25,000 minimum.
Funds for the Future provide an avenue for donors who prefer to contribute gifts at the end of their lifetimes. The Catholic Community Foundation is an excellent vehicle for donors who wish to benefit one or dozens of Diocesan ministries or organizations after their death. Using wills, trusts, insurance policies, and other estate planning tools, donors can create a legacy that will survive us all. In doing so, they fulfill their vision of a vibrant, healthy future for our children and our children’s children. If you would like more information on how to establish a Fund for the Future, contact the Foundation. If you have already provided for the Community Foundation in your estate planning, please let us know so that we may recognize your generosity.
Provisional Funds may be established at the discretion of the foundation's board of directors for charitable groups or organizations with a specific fund-raising need. The foundation may establish a provisional fund where donors to an approved cause or campaign can "park" gifts until such time as the campaign either succeeds or fails. Meanwhile, the charitable group or organizations would be able to count the dollars in the provisional fund toward the fundraising goal. If the campaign fails, the foundation would disburse the provisional fund to other qualified charitable entities requested by the donors. Provisional funds have separate, negotiable fees.
Pass-through Funds are created by donors who desire the foundation to administer their charitable grants, but who do not wish to maintain a permanent, endowed fund. Pass through funds are assessed fees separately from other funds in the foundation according to the following policy:
Upon receiving the gift, the foundation assesses an annual fee equal to the GREATER of: 1% of the total gift, or a minimum of $100. After two grants have been made from the fund, an additional fee of $25 per grant will be assessed.
Organization Fund Guidelines
Organization Funds benefit nonprofit organizations by:
-
providing a vehicle for endowed giving for supporters of the organization;
-
providing exposure of the organization to potential donors;
-
providing investment management of endowed funds;
-
providing expertise that can be shared with donors for the benefit of the organization
-
providing income to further the charitable work of the organization
Organization Funds are funds created by or for charitable organizations exclusively for the benefit of those organizations. Individuals, businesses, and other third parties may establish or contribute to an organization fund.
The following policies and guidelines have been established to govern the handling of Organization Funds in a manner consistent with the purposes of the Foundation and in keeping with applicable tax regulations.
1. Minimum Amount
The minimum amount required to establish an Organization Fund is $10,000, designated as endowment. Organizations who intend to establish a fund may take up to 5 years to reach the fund minimum. If, at the end of five years, the fund has not reached the minimum, all assets in the fund will become part of the unrestricted grant fund within the Foundation.
2. Investment of Funds
Organization Funds belong to the Foundation and are subject to the terms and conditions of its governing instruments. Organization funds are co-mingled with other Foundation funds to encourage maximum investment performance. The Foundation’s portfolio is managed with a view toward maximization of total return considering inflation risk, interest rate risk, and business or economic risk, while at all times being prudently diversified. A copy of the Foundation’s investment policy is available on request.
3. Outside Investment Managers
Organizations may request to use an outside investment manager if the fund maintains a minimum balance of $25,000. If the request is granted, the fund remains a component fund of the Foundation, but is managed and invested by a bank, trust company or other entity recommended by the Organization. In order to manage component funds for the Foundation, outside fund managers are required to sign an investment management agreement with the Foundation, and maintain an investment performance level that is acceptable to the Foundation’s Investment Committee. Investment decisions cannot at any time, be made by representatives of the Organization.
4. Accounting
Financial Accounting Standard 136 applies to accounting for assets transferred to a fund in a community foundation by nonprofit organizations. Under FAS 136, when a nonprofit organization transfers a portion of its own assets to a fund in a community foundation, the nonprofit organization continues to report those assets as its own, with the offsetting activity reported in net assets. The community foundation also reports the asset, and the offsetting entry is classified as a liability to the nonprofit organization.
When a private individual establishes an endowment fund in a community foundation to benefit a nonprofit organization, FAS 136 specifies that the assets in the endowment be reported only in the books of the foundation.
An endowment fund in a community foundation that contains a mixture of assets transferred from the nonprofit organization and gifted by private individuals must treat each type of transaction separately as specified above.
Because of FAS 136, every organization fund within the Foundation is comprised of two separately maintained funds. All donations contributed by the organization are placed in the organization’s named fund. All donations made to the fund by third-party donors are placed in the organization’s endowed fund unless specified differently in writing by the donor. The total of both funds are combined to achieve the minimum fund balance.
5. Grant Recommendations
Organizations may request a grant from their fund at any time. A grant request form is available from the Foundation or by clicking on the grant request forms below. Foundation staff will verify the availability of funds and the charitable nature of the grant request.
The Foundation board annually votes to establish a spending policy for the year, usually up to 5% of the average quarterly balance of a fund as of June 30. This policy will determine the grant dollars available for grant requests from the organization’s endowed fund.
As long as the minimum fund balance is maintained, organizations can request grants that invade the principal of the organization’s named fund. At no time will grants be made that invade the principal of the endowed fund. All such requests are advisory only, and the Foundation retains the ultimate authority to determine grant amounts.
Grant requests made by organizations can be used for any purpose that furthers the charitable work of the organization. Grants can be used for operations, capital projects or special programs. Grant requests are evaluated by the Foundation Board of Directors. Grants are ordinarily processed once a month. Each grant requested from an Organization Fund must be for a minimum of $250.
Organization Fund Grant Application (PDF)
Organization Fund Grant Application (Word.doc)
6. Subject to Governing Instruments
All funds are subject to the terms and conditions of the Foundation’s governing instruments, as amended. Among other things, the governing instruments provide that the Foundation has the power to modify and vary any Organization Fund request in the event it becomes inconsistent with the charitable purposes of the Foundation.
7. Administrative Contributions and Special Fees
(a) All component funds are required to share in the administrative costs of operating the Foundation. The Foundation reserves the right to annually assess from each fund a contribution in an amount not to exceed 1% of its average daily fund balance as of June 30. The administrative contribution supports the charitable work of the Foundation by assisting in covering administrative costs so the Foundation can achieve its goal of increasing philanthropic giving and improving the quality of life in our community.
(b) Each specific component fund will be charged a fee for any extraordinary expenses incurred on behalf of that fund, such as commissions for the sale of contributed securities. Additional fees may be charged for extraordinary services, such as special grant processing, large numbers of transactions, or other non-standard services.
8. Additional Benefits
The Foundation may, from time to time, offer educational programs for the benefit of nonprofit organizations, their staff and board members. The Foundation may offer such programs at a reduced rate for those who represent an organization with a fund in the Foundation.
Foundation representatives are available for consultation with staff and potential donors of nonprofit organizations with funds in the Foundation.
Organization funds are listed in the Foundation’s annual report, on our web site, and are sometimes featured in our quarterly newsletter.
The Foundation offers opportunities for all nonprofit organizations and others performing charitable work in the Heartland area to apply for grants from the Heartland Community Foundation Fund. A call for applications is announced on our website, and through the mass media. Additional information and application forms are available on the Apply for a Grant page.
9. How to reach us
Contact any member of the Board of Directors for more information.
HOME | TRANSFER OF WEALTH | DONATE ONLINE NOW | ABOUT THE FOUNDATION | TYPES OF FUNDS | CURRENT FUND LIST | CURRENT SCHOLARSHIPS | INFORMATION FOR DONORS | INFORMATION FOR ADVISORS | APPLY FOR A GRANT | FOUNDATION IN THE NEWS | DONOR CENTRAL