Frequently Asked Questions
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- What is the Catholic Foundation of Michigan and why does it exist?The Catholic Foundation of Michigan is a nonprofit organization that inspires faith-filled charitable giving and manages assets to provide perpetual funding for Catholic parishes, schools, ministries, and nonprofit organizations in the greater Archdiocese of Detroit community long into the future. The Catholic Foundation collects, grows, and distributes funds on behalf of our donors. We offer donors highly effective investment vehicles completely in line with Catholic values; the finest professional stewardship of those funds; optimal tax benefits; and the opportunity to create meaningful and lasting legacies through generous and responsible giving to the community.
- What sets the Catholic Foundation of Michigan apart from other foundations?
The Catholic Foundation of Michigan’s work is a ministry. Catholic spiritual writer Henri Nouwen writes of philanthropy as,
“a very rich and beautiful activity. It is a confident, joyful and hope-filled expression of ministry…
we work together for the full coming of God’s Kingdom.”
The Catholic Foundation makes it simple for the local Catholic community to practice Christian philanthropy in accordance with Gospel values and the socially responsible investing principles set forth by the United States Conference of Catholic Bishops.
- What are the benefits of working with the Catholic Foundation of Michigan?The Catholic Foundation offers many benefits for donors: investing consistent with one’s faith; the convenience of using a single source to give to numerous charities; expert assistance and advice tailored to donor needs and interests; and tax advantages. The Foundation helps donors provide more support for those in need than they might have thought possible by increasing the impact of their charitable giving. With the Catholic Foundation, donors know that their gifts will benefit, in perpetuity, the causes that are most important to them and that their funds will always be invested according to Catholic principles of investing.
- How is this different than giving directly to a charity?The Catholic Foundation encourages charitable giving – and there are many Catholic organizations that need funds right now. Our donors are often able to give to an organization today while growing funds to support that organization’s work in perpetuity. The Foundation offers comprehensive charitable giving, with a variety of services that continue current donations to your parish, Catholic school, and favorite charities.
- Is the Catholic Foundation only for wealthy donors?No. The Catholic Foundation hopes everyone in the Catholic community will participate in the spirit of charitable giving. There is no minimum requirement to contribute to an existing fund. Gifts of any size are welcome, and are essential to the Foundation’s mission.
- Can I donate to non-Catholic organizations?Yes, donors may give to any 501(c)(3) charitable organization that serves the needs of the community and does not conduct business contrary to Catholic teachings. Your funds can go toward your school or university, a civic cause, a cultural institution, or any qualifying charitable organization operating in accordance with Catholic values anywhere in the country.
- What is the Catholic Foundation of Michigan’s relationship to the Archdiocese of Detroit?The Catholic Foundation is a lay-led public charity established to serve the Catholic community in the Archdiocese of Detroit and endorsed by Archbishop Allen Vigneron. The Catholic Foundation of Michigan is a separate and independent entity from the Archdiocese, with its own 501(c)(3) designation, by-laws, trustees, and staff. The Archbishop serves as an ex-officio, nonvoting, member of the Board of Directors to ensure our Catholicity. An integral part of the Catholic community in southeast Michigan, the Catholic Foundation serves the geographic area of the Archdiocese of Detroit. However, we also will work with individuals from outside the area to support entities in the Archdiocese, and grants from donor-advised funds may be awarded to entities beyond the boundaries of the Archdiocese of Detroit.
- What kind of giving services are available?
The Catholic Foundation of Michigan offers various types of donor centered funds and services to accommodate your personal resources and unique charitable objectives. These are managed to optimize tax savings, to advance charitable interests, or to build the Catholic endowment and create an enduring personal or family legacy.
- Donor Advised Funds and Family Foundations
- Agency and Beneficiary Endowments
- Charitable Bequests
- Memorial and Honorary Funds
- Charitable Gift Annuities
- Granting Funds
- Endowed Scholarships and Tuition Assitance
- Are there costs associated with maintaining a fund?Yes. An annual administrative fee and investment management fee of less than 1% on all endowments and donor advised funds pays to keep our organization running and staff investing your assets. The Catholic Foundation of Michigan is transparent with our investment policies and fees. The Catholic Foundation does not charge a fee for any of the services in working with parishes, schools, or nonprofits.
- Can I donate personal property, like my car, my home, my farm, a diamond ring?The Catholic Foundation does accept some types of real and personal property, particularly real estate. Please contact the Catholic Foundation to determine what is eligible for donation. All gifts of personal property require a due diligence process before we can agree to accept the gift.
- How will the money in my fund(s) be invested?The Catholic Foundation of Michigan, working with professional Catholic investment advisors at Merrill Lynch, is committed to prudent investment strategies that our trustees believe will lead to the optimal use of your fund(s) in the charitable community. Detailed reports of donor funds are accessible online and mailed quarterly.
- Can the Catholic Foundation work with my financial advisors?Yes. The Foundation staff work with advisors and their clients navigate the many Catholic causes in our region and connect them with their passionate interests. We understand that gifts made to parishes, schools and ministries through the Catholic Foundation of Michigan are an important part of your financial and estate planning. The Catholic Foundation works with Catholic leaders and financial professionals to maximize the desired outcomes.
- Legal NameCatholic Foundation of Michigan
- Tax identification number81-4107324
- For more information
- Printable FAQ Sheet