St. Mary Parish has eight endowments in The Catholic Foundation which were created to benefit various areas of the parish. All donated funds (called principal or corpus) are invested and the parish withdraws only the earnings from time-to-time which are used for the purpose of that endowment. We invite you to follow the link below to take a look at our endowments and their purposes. Please consider donating to one or more of these accounts now while you are alive (and take a possible income tax deduction!), or with a gift through your estate plan.
With a gift of $25,000 or more you may create a new personalized endowment to benefit a specific purpose. What a great way to memorialize a loved one! Remember, gifts given to these accounts can never be spent, only the earnings can be withdrawn. We will specifically remember you or your loved one forever! If you have questions or would like more information on how you can leave St. Mary Parish a gift in your will or estate plan, please call Deacon Greg Urban at 815-758-5432 or email him at firstname.lastname@example.org.
Click Here to view and/or donate to St. Mary, DeKalb endowment accounts.
The Catholic Foundation...
Below is a bit of information about The Catholic Foundation. For detailed information about the Foundation and its investments and performance information we invite you to visit The Catholic Foundation web site.
What is The Catholic Foundation?
The Catholic Foundation is an umbrella endowment trust fund established in 1987 by Bishop O'Neill. Parishes, schools and diocesan agencies may establish endowment accounts with The Catholic Foundation. This endowment trust fund accepts gifts whose principal (corpus) remains untouched for perpetuity, but allows for the distribution of earnings. The Catholic Foundation also accepts gifts from individuals through Donor Advised Funds. The individual donor makes a tax deductible contribution to The Catholic Foundation and then he/she (or their appointed advisor) can periodically suggest charities to receive distributions. The Foundation offers two types of Donor Advised Funds: Endowed (with distributions of earnings only) and Provisional (distributions can include both earnings and the original gift(s)).
Why was The Catholic Foundation established?
Motivated by good stewardship practices, The Catholic Foundation provides the individual participants (accounts) the advantages of more favorable diversified investment strategies available to pooled funds, and documented accountability, while avoiding duplication of legal and administrative costs.
Where do the endowment funds come from?
The best source for endowment funds is from Planned Gifts. Planned Gifts include: Bequests through Wills, Charitable Gift Annuities, Charitable Remainder and Lead Trusts, Life Insurance instruments, and Retained Life Estates, to name a few. Because of favorable governmental regulations for these planned gifts, significant tax advantages are available to interested parishioners with charitable intentions.
How do I leave my parish a gift in my will?
We invite you to download the document: Suggested Wording to Name Your Parish in Your Will or Trust.
Will the Catholic Foundation accept a non-cash gift to benefit my parish or organization?
We have established a Gift Acceptance Policy to protect the donor, the parish or organization, the Foundation and the Diocese. If you have question about a non-cash gift, please consult our policy or give us a call. Accepting gifts of real estate is more complicated. If you are considering a gift of real estate, please consult our Real Estate Acceptance Policy.