Generosity is an essential part of the Catholic faith. Most Catholics give not only because the Church asks them to but because they also care about Catholic values being upheld. It is a way to actively demonstrate love for Christ to one another.
Practicing generosity is important not only throughout your lifetime but also in death. There are many different ways to give during your lifetime that can leave a legacy after your death. The Catholic Foundation can help walk you through many of these options which include endowments, charitable wealth transfer plans, charitable life estates, and more.
Endowments
This blog is going to focus on how endowments are a great way to practice generosity throughout your life while allowing you to leave a legacy after death. An endowment is a charitable gift that creates a permanent, self-sustaining source of funding to a nonprofit organization such as a parish or school.
The entire goal of an endowment is to make a long-lasting gift to a parish, school, or Catholic organization. This gift is permanent and self-sustaining—rather than making a one-time gift, an endowment allows you to leave an ongoing legacy behind that continues to impact the organization of your choice. This is achieved through a continual distribution of interest income (earnings) on the endowment to the charity while the principal sum is kept intact.
Endowment in Action
Father Rudy F. Oborny (1945–2021) was a beloved priest of the Diocese of Lincoln who exemplified a personal commitment to humble stewardship. Father Oborny started an endowment during his life, the Religious Sister Education Endowment, which sponsors continued education efforts of religious sisters living in communities in the Diocese of Lincoln. Father Oborny was known as a thoughtful and kind priest, and his legacy will continue to impact the Church for generations to come through his support of our religious sisters.
Benefits of an Endowment
In establishing an endowment, your gift creates an annual stream of revenue to support a charitable cause meaningful to you. Starting an endowment with The Catholic Foundation includes the following benefits:
- The Catholic Foundation manages the fund and distributes ongoing income to your selected organization.
- Creating an endowed fund allows you to give the fund a name that is meaningful to you or honors another person in memory or tribute.
- Gifts are always invested in accordance with the United States Conference of Catholic Bishops Guidelines for Socially Responsible Investments.
- The Foundation raises awareness of the endowments we manage through our website, materials, seminars, events, and a legacy society to encourage additional support and funding.
You can have complete peace of mind that your principal balance is only being invested in organizations that are in sync with Catholic teachings. Furthermore, by protecting the principal, an endowment allows a charitable impact over a longer period of time than a gift disbursed all at once—an impact that can leave a legacy behind and outlive your years on earth. It ensures long-term financial support for your chosen cause. Endowment funds allow you the freedom to choose a specific designation for your gift, or leave unrestricted gifts to serve the greatest needs identified in your community.
In Closing
Generosity is an essential part of the Catholic faith and allows for an active demonstration of love for Christ to one another. Practicing generosity is important to do throughout your lifetime and beyond. An endowment is one of the many ways to have a generous legacy throughout your life that carries on in your death.
For more information on endowments, contact The Catholic Foundation of Southern Nebraska at 402-488-2142.
Here at The Catholic Foundation of Southern Nebraska, we want to help you give charitably in a way that is meaningful to you. We work with individuals, couples, and families who want to personally make a difference in the lives of others. If you’re interested in learning more, please don’t hesitate to reach out!