The Foundation provides donors the opportunity to establish funds for the benefit of specific purposes. These funds provide a great deal of flexibility to match donor intentions with diocesan priorities or needs. Additionally, parishes, schools, diocesan organizations and ministries, families and family foundations are afforded the opportunity to serve as investors and partners through the establishment of their own funds.
As part of the long-term relationship with our donors, the Foundation provides full administrative servicing including quarterly reporting on fund investment performance and on any grant activity associated with the fund.
A gift to establish an endowment fund demonstrates farsighted commitment to the mission of the Foundation. An endowment is a fund that is maintained in perpetuity and a portion of the annual return is used for the purposes specified by the donor. Such endowments, which typically bear the name of the donor or donors, reflect your interest and serve as an enduring testament to your generosity.
There are several types of endowment funds:
Undesignated – These types of funds provide the Foundation’s Board of Trustees with maximum flexibility to direct funds where they are needed most. There are currently two undesignated general endowments of this type: the Catholic Education Endowment Fund and the Catholic Charities Endowment Fund.
Designated – These are funds that are established with special language that directs the Foundation to use annual earnings to support a specific ministry, organization, or program as identified by the donor.
Scholarship – These funds are created to provide annual support to students to attend Catholic elementary and secondary schools within the diocese. Generally a specific set of guidelines are drafted to accompany each new scholarship fund setting forth eligibility requirements, etc.
Philanthropic Funds have the intention to distribute all of the fund’s assets to charitable beneficiaries in a short time, typically to satisfy annual giving commitments of a donor.
This type of fund offers convenience, simplified tax reporting and the ability to support numerous Catholic philanthropic opportunities* throughout the year. For example, if an individual is using appreciated stock as a gift, the donor need only gift the stock to one entity (the Foundation), and distributions can be made to multiple organizations in the donor’s name such as a parish, Catholic school, Catholic Charities, formation of seminarians, deacons and lay leaders of the Church., etc.
* As listed in the official Catholic Directory of the Diocese of Buffalo.
The Foundation of the Roman Catholic Diocese of Buffalo offers donors the opportunity to support specific ministries with gifts of any amount through a broad variety of existing funds. Donors may choose to give to funds in any of the key ministry areas supported by the Foundation:
Priestly, Diaconal, and Lay Formation
Catholic Organizational Life and Ministry
If you are interested in establishing a fund, please contact Nancy Gugino, Executive Director, The Foundation of the Roman Catholic Diocese of Buffalo at 716-847-8371.