Where is the Catholic Foundation located?The Catholic Foundation leases office space at the Pastoral Center, 2779 Highway 311, Schriever, LA 70395. The mailing address is, The Catholic Foundation of South Louisiana, P.O. Box 505, Schriever, LA 70395
What geographical area does the Catholic Foundation serve?The Catholic Foundation of South Louisiana serves the geographical area of the Diocese of Houma-Thibodaux. This comprises the Civil Parishes of Lafourche and Terrebonne and parts of St. Mary, Jefferson, St. Martin and Assumption Civil Parishes that serves 39 parishes, 13 schools and approximately 115,000 Catholics.
How is the Foundation governed?The Board of Directors governs all operations and actions of the Catholic Foundation. The Board has representation from across the diocese with a 16 member limit. The Board meets regularly with no compensation being paid to Directors for their services rendered.
Who manages the Catholic Foundations’ funds?The Board of Directors manages the portfolio of the Foundation’s funds. Currently, the funds are being invested with Catholic Extension Society’s Diocese Mission Fund (www.catholicextension.org) who conducts an annual audit with an outside Accounting Firm.
Who determines how much each endowment beneficiary receives each year?The Board of Directors determines the annual percentage that is made available each year in a distribution. The distribution is based on the average monthly balance of the endowment with the original gift remaining intact. Currently, the annual distribution is yet to be determined due to the infancy of the Catholic Foundation but a set amount is likely as to allow for inflationary growth within each endowment.
How are the endowments protected as permanent gifts?The Catholic Foundation of South Louisiana is a separate not-for-profit corporation established to manage, grow and protect these permanent gifts. A legal agreement is created between the donor and the Catholic Foundation of South Louisiana that determines the intent of the donor. Annual distributions are made while preserving the original gift.
What options does the beneficiary have in taking the annual distribution?The beneficiary of each endowment has three options:
- They may take the annual distribution in whole or in part.
- They may leave the distribution in the restricted portion of the endowment.
- They may elect to place the distribution into the unrestricted portion of the endowment, where the funds may be withdrawn at any time. The same rate of return is available for both restricted and unrestricted funds.