Types of Funds
Types of Funds
Whether you’re looking to share your blessings where they are most needed or plan an enduring future for your Catholic organization, we’re here to help. Find out which of the variety of services offered by the Catholic Foundation of Michigan is right for you.
Endowment Fund
When you open an endowment fund, you light a flame for the future. The Catholic Foundation of Michigan helps to tend the fire, and assures that its light continues to shine: a permanent, growing fund, which will provide everlasting financial support for your parish, school, or ministry.
The Catholic Foundation of Michigan makes it simple for a parish, school, or nonprofit to establish or maintain an endowment and plan for an enduring future. Using your brand and identity, we’ll work together to create a custom plan and identify and cultivate donors in new ways. These gifts will generate a stable and predictable income you can depend on for years to come.
- Endowment Application
- Guide to Endowments for nonprofits
- Guide to Endowments for parishes
- Guide to Endowments for schools
- Guide to Endowments for individuals
Donor Advised Fund
Many donors prefer to simplify giving with a donor advised fund. Transfer cash or securities into your fund at any time, and, at a later date convenient for you, advise the Catholic Foundation of Michigan to distribute funds to your selected charities through our online donor portal.
Donors receive an immediate tax benefit upon transferring assets into the fund, regardless of when you decide to distribute the funds. Our fund administration rates are comparable to others offering similar secular services.
Designated Fund
This is an advised fund whose beneficiary organization has been specified by the donor(s) at the time of the gift. Income from the fund, and in some cases principal, is distributed in accordance with the instructions provided at the time of the gift.
Designated Funds are a useful charitable tool to help specific parishes, schools and ministries with vital programs or ongoing capital needs.
Granting Funds
A granting fund gives you the opportunity to target your contribution to the area most important to you. Whether you are interested in education, youth, spirituality, the arts, or some other area of impact, these funds are broad in scope, yet targeted to meet the persistent needs of the community. The Foundation’s granting team will identify, evaluate, and award grants to the most qualified and deserving organizations in your area(s) of interest.
Family and Private Foundations
Sometimes the management of a family or private foundation may become burdensome. The Catholic Foundation of Michigan can administer the foundation, recommend charities for grants, and provide financial reporting.
Scholarship Funds
Support promising and deserving students by assisting them with the cost of their education. Individuals, organizations, and companies can establish unique scholarships to honor or memorialize a loved one. The Catholic Foundation manages the fund and distributes the award directly to the school on behalf of the recipient(s). Once established, anyone can contribute to a scholarship fund.
Contribute to an Existing Fund
The Catholic Foundation of Michigan will accept one-time, reoccurring, or planned gifts of money, securities, retirement plan assets, fully paid life insurance policies, and more. Gifts may be given to a specific fund or designated for gifting by the foundation. Contact us or donate online with any major credit card.