Despite the restless market conditions, many Catholic causes that have endowment funds managed by the Catholic Foundation have benefited from donors’ generosity and investment savvy. Donors holding onto appreciated investments took advantage of tax savings by donating it to the endowment fund of their favorite Catholic cause.
A sampling of endowment funds receiving appreciated tax benefiting gifts include the:
- Robert & Cynthia O’Hara Family Fund
- John Paul II Café Endowment Fund
- George Karabin St. Anne Education Endowment Fund
- ACCHS Green & Gold Educational Endowment Fund
- Seminarian Education Endowment Fund
- Prolife Mothers To Be Fund
- Apostles of Jesus Fund
- Mercy School of Special Learning General Endowment Fund
- Catholic Charities Lehigh Valley Ecumenical Kitchen Fund
Appreciated Investments Include Stocks and IRAs
Options may include gifts of appreciated stock, required minimum distributions (RMD) from their IRA that become a qualified charitable distribution (QCD) for donors 72 or older, gifts from a donor advised fund and inclusion of a Catholic organization in a will. All of these methods can create a forever opportunity for Catholic organizations and a tax benefit for the donor, too.
In 2024, individual retirement accounts (IRAs) experienced significant growth, with assets totaling $15.2 trillion by the end of the third quarter — a 4.6% increase from the previous quarter. This growth reflects continued confidence in retirement savings vehicles.
Tax Savings While Supporting Your Favorite Catholic Causes
The Catholic Foundation of Eastern Pennsylvania is encouraging donors to take advantage of the tax savings and help build up endowment funds for their favorite parish, school, or Catholic ministry.
“Although the market conditions are causing uncertainty right now, people may have investment holdings that have grown significantly during the past few years,” said Tom Scalici, vice chairman of the Catholic Foundation’s board and CEO of Cornerstone Advisors Asset Management. “The timing is always right for donors to gain a tax advantage and support their favorite Catholic cause at the same time.”
Scalici cites three key advantages for donors and Catholic organizations:
- the donor receives a tax benefit.
- their gift lives forever and provides ongoing income for their favorite Catholic cause.
- the Catholic organization becomes more fiscally stable.
Donors have the choice of making a gift to an already existing endowment fund or creating a new one to benefit a Catholic organization.
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