Catholic Business Leaders to Launch Catholic Foundation of Michigan
DETROIT – Sept. 27, 2017 – The Catholic Foundation of Michigan board of directors, made up of more than 20 Detroit-area business leaders, has invited other prominent members of the community to learn about and to help launch the lay-led, nonprofit 501(c)(3) corporation designed to serve as the center of Catholic philanthropy in southeast Michigan. The luncheon will begin at 11:30 a.m. Oct. 3 at the Detroit Athletic Club.
Kathleen McCann, chairman and CEO of United Road and chair of the Archdiocese of Detroit’s Catholic Schools Council, will deliver a keynote address about the benefits of Catholic philanthropy through the new foundation. Archbishop of Detroit Allen H. Vigneron, who has endorsed the new foundation, also will speak about his hopes for the future of Catholic charitable giving in southeast Michigan.
The Catholic Foundation of Michigan inspires charitable giving and assists generous donors in providing for the long-term needs of Catholic parishes, schools, ministries and nonprofit organizations in southeast Michigan. The goal of the foundation is to serve as the center of Catholic philanthropy, while helping donors ensure their investments are aligned with Church teaching.
“As people of faith, our values should direct our actions,” said Angela Moloney, president and CEO of the Catholic Foundation of Michigan. “We are Catholic faith partners. Our team is committed to carefully investing and granting, in alignment with the teachings of US Conference of Catholic Bishops, to support the organizations and ministries our investors cherish.”
According to Patrick Fehring, chairman of the foundation’s board of directors and president and CEO of Level One Bank, “It was clear to us that there were generous hearts and incredible needs throughout the region, but no organization to connect the two. Think how Catholic parishes, schools, social service organizations and ministries would all benefit from a professionally managed lay-led Catholic Foundation. Think how great the need is for Catholic values and services in today’s world. I would argue the need is greater than ever before.”
Archbishop Vigneron said he hopes the foundation will ensure resources for his pastoral call to the faithful to “unleash the Gospel” well into the future: “As I have grown to understand the mission of the Catholic Foundation of Michigan and what it will strive to accomplish, I cannot but be filled with hope knowing that this work, too, has the potential to grow abundantly and fruitfully. It will be a cornerstone ensuring that we will have the resources to continue to witness to Christ for many years to come.”
Donors may choose from four paths to Catholic philanthropy through the foundation:
- Donor Advised Funds: Many donors prefer to simplify giving with a donor advised fund. Individuals may transfer cash or securities into their funds at any time, and, later, advise the Catholic Foundation to distribute funds to selected charities through the online donor portal.
- Endowment Funds: The Catholic Foundation of Michigan makes it simple for a parish or school to establish or maintain an endowment and plan for an enduring future. Using an organization’s brand and identity, the foundation will create a custom plan to identify and cultivate donors to generate a stable and predictable income.
- Family and Private Foundations: The Catholic Foundation of Michigan can help manage family or private foundations, recommend charities for grants, and provide financial reporting.
- Contribute to an Existing Fund: Gifts of any size may be directed to a specific fund or designated to a field of interest fund to be granted by the foundation. The Catholic Foundation of Michigan will accept one-time gifts or planned gifts of money, securities, retirement plan assets, fully-paid life insurance policies, and more.