The Important Role of Donor Advised Funds
Many charitable individuals and families have set up donor advised funds. And during times like these, we all can be grateful.
When markets drop significantly or when businesses aren’t as profitable, the charities that we love need us more than ever. Passionate donors desire to support the parishes and ministries they love with a contribution at the same level they have given in the past.
Fortunately, those donors who’ve previously established a donor advised fund (DAF) are able to continue to provide generous and consistent funding to their favorite charities, even when their investments drop in value or when their income decreases.
“These funds function like a family charitable checking account,” says Angela Moloney. “Individuals and families can receive a tax benefit when it is best for them, and direct the gift when it is in the best interest of the nonprofit organization.”
For example, knowing that some donors who give out of pocket may decrease their contributions if their jobs or investments feel uncertain, individuals with donor advised funds can strive to provide the same or even larger levels of support.
A benefit of contributing to a DAF, which can be administered by the Catholic Foundation of Michigan, is that “the donor has the ability to be flexible in choosing both the timing and recipients of the grants,” shares Chris Nemes, CPA and Preferred Advisor with the Catholic Foundation.
Additionally, many donors have been advised to bunch contributions to DAFs during high income earning years. This trend has helped donors realize the ability to provide consistent levels of support during times when their income will be less or when the tax benefits of donating may decrease.
All of us at the Catholic Foundation are grateful for our donor advised fund holders. We are here to support them in their faithful generosity to the ministries and nonprofit organizations in our community.
Catholic #FaithfulResponse Fund Featured on Kresta in the Afternoon
The Fund is powerful, collaborative emergency funding campaign to support Catholic parishes, schools and community nonprofit organizations that are on the front lines in the COVID-19 pandemic. It is an opportunity for the Catholic community to come together in a unique way to evangelize and be the Church.
Listen here to the interview:
James D. and Rosalie A. Miller and Friends of Chesterton Academy of Detroit Scholarship Fund
To provide tuition assistance and support the mission of Chesterton Academy of Our Lady of Guadalupe as it provides high school students with full-time classical education centered on the Eucharistic Lord and our Catholic faith.
*Catholic Faithful Response Fund for COVID-19
Provide mission-critical emergency funds to organizations in this time of crisis.
Introducing the new CatholicFoundationMichigan.org
We are very excited to announce the launch of our newly designed website, which is your destination for Catholic philanthropy in southeast Michigan. Whether you are a current or prospective donor or fundholder; a leader in a Catholic parish, school or nonprofit organization; or a professional advisor, we hope that you’ll find the new site to be more user-friendly and provide you the information you need to be inspired and to achieve your philanthropic goals.
Some of the new features on our website include:
Ways to Enter Our Site
One of the first things you’ll notice on our homepage is the boxes directed at various groups:
- individuals & families
- parishes, schools & nonprofits
Each page provides relevant information about the Catholic Foundation’s offerings, tailored to the particular group. We hope this allows you to quickly find the information you’re looking for.
One of our favorite aspects of the new site is the ability to search our various funds at https://catholicfoundationmichigan.org/give-now/. You are able to search for a fund or an organization by name, or review the funds that relate to a particular issue, making it simple and easy to give to a cause you are passionate about.
Looking to learn more about the community of committed Catholics who are giving generously to make an impact in our community? Visit our Donor Stories page and read the variety of features sharing how our donors have been called by their faith to leave a legacy.
Sixty organizations have received competitive impact grants from the Catholic Foundation since our founding in 2018. Learn more about these inspiring grantee partners and the innovative work they are offering throughout southeast Michigan.
If you have any questions or feedback, feel free to contact us.
We extend our gratitude to Solutio for their work in building our new site. We have had an excellent experience working with them and we wholeheartedly recommend them.
A Joy That Cannot Be Contained
This year, perhaps more than ever, we may be in touch with a sense of the world’s uncertainty and suffering. Yet the Easter season provides the opportunity to access joy in the midst of pain and confidence in the promise of resurrection–that life and love that triumph over death, forever.
Psalm 30:5 reminds us that “weeping may remain for a night, but rejoicing comes in the morning.”
Similarly, after Jesus died, followers of Jesus who were “downcast”, were walking the road to Emmaus, and through encountering the resurrected Jesus, became “incredulous for joy and amazed.” (Luke 24:41)
The Catholic Foundation is here to help you give with joy, and support our community in life-giving ways that will endure in perpetuity.
From all of us at the Catholic Foundation, we wish you a very joyous Easter.
Why We Invest: Joyfully Planting Seeds for the Future
Each of us invests for different reasons, but at the core, it is to provide a level of security for the future. Security knowing that our daughter can attend her first choice college. Security knowing that we can put food on the table when in retirement or in difficult times. Investing allows us the security of knowing we can be there for others in times of need.
Chesterton Academy of Our Lady of Guadalupe: Witnessing to Joy
“There was some one thing that was too great for God to show us when He walked upon our earth, and I have sometimes fancied that it was His mirth,” wrote G.K. Chesterton in his classic apologetic work, Orthodoxy.
Chesterton was a prolific English writer of the early 1900s and one of his well-known characteristics was JOY. His approach to all things, as demonstrated in his broad and varied writings, was through the Catholic lens of hope and joy. G.K. Chesterton is the patron of the new Chesterton Academy of Our Lady of Guadalupe – Detroit, Mich. which plans to open this fall in Clinton Township, Michigan.
“Chesterton Academy of our Lady of Guadalupe wishes to transmit the faith and our intellectual tradition through this joyful faith-filled lens. The faith, when lived in authenticity and fullness, brings the gift and grace of joy. Young people are seeking such joy,” shares Alejandra Correa, Co-Founder and Executive Director of Chesterton Academy of Our Lady of Guadalupe.
Chesterton Academy of Our Lady of Guadalupe is a classical, co-educational high school in the Catholic intellectual tradition. The school offers an integrated, broad liberal arts curriculum teaching from the Great Books in the Socratic method, which is a seminar-style class approach where students answer questions about a particular argument or theme. The goal is to allow students to examine all sides of a topic as well as discover what is true, good and beautiful in the world. Every day will begin with the Holy Sacrifice of the Mass and all teachers and staff must take an oath of fidelity to the Magisterium. Though Chesterton Academy is not an archdiocesan school, it will be operating in good faith with the Archdiocese of Detroit.
“Joy is contagious, and the staff and teachers of Chesterton Academy of Our Lady of Guadalupe want to be living witnesses of this ‘gigantic joy’”—Alejandra Correa, Chesterton Academy of Our Lady of Guadalupe
“If you would like an education that forms the whole person and places the Catholic faith at the center of all subjects, rooting everything in the Incarnation of Christ, then this is the high school for your family,” shares Alejandra. “We form young minds to strive for excellence and holiness. Our mission is to provide this kind of full-time high school experience which is otherwise only available locally through homeschool and hybrid programs. We strive to make tuition affordable, and financial aid is also available,” she continues.
“Joy is contagious, and the staff and teachers of Chesterton Academy of Our Lady of Guadalupe want to be living witnesses of this ‘gigantic joy’ (as Chesterton wrote) that Christ brings to our lives. Contagious joy is the infinite remedy to the apathy that saturates our current culture. Jesus wants us to be filled with joy!” Alejandra shares.
In March, the James D. and Rosalie A. Miller and Friends of Chesterton Academy of Our Lady of Guadalupe Scholarship Designated Fund was opened to support tuition assistance and the mission of the school.
“It has been a gift to work with the Catholic Foundation team in setting up our Donor Designated Fund. Angela explained clearly the details of how to set up different types of funds and was able to answer all of our questions. Partnering with the Catholic Foundation provides us with a great advantage and will allow us to reach donors we wouldn’t have been able to reach on our own. We feel confident that the Catholic Foundation will promote our mission with integrity and transparency in order to help us find the right partnerships with future donors and help us live our mission fully.” Alejandra shares.
“We feel confident that the Catholic Foundation will promote our mission with integrity and transparency in order to help us find the right partnerships with future donors and help us live our mission fully.”—Alejandra Correa, Chesterton Academy of Our Lady of Guadalupe
Although Chesterton Academy’s tuition is one of the lowest tuition that will be offered in the metro Detroit area for a private high school education, some families will have a hard time paying the full cost (one year’s tuition of $6,000 plus books, fees and uniforms). The school seeks enthusiastic partners who are interested in supporting their Eucharistic-centered, joyful mission to help offer scholarships for its future student body.
How the New CARES Act May Affect Your Gift Planning or your Nonprofit Organization
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn. This act was passed by Congress and signed into law on March 27, 2020.
How the New CARES Act May Affect Your Gift Planning:
You may have questions on how the CARES Act affects your charitable giving. Below is an overview to get you started. If you have questions, you should reach out to your tax advisors or connect with one of the Catholic Foundation’s Preferred Advisors. Please contact us to help you with any gift planning opportunities.