What is the Catholic Foundation of South Louisiana?The Catholic Foundation of South Louisiana is a 501(c)(3) nonprofit established in 2012 in an effort to assist families, individuals and organizations in their philanthropic giving to build a lasting financial support for the parishes, schools, and other ministries of the Diocese of Houma-Thibodaux. The Catholic Foundation serves the geographical area of the Diocese of Houma Thibodaux, serving 39 church parishes, 13 schools and numerous ministries within our Diocese.
Are the Catholic Foundation Funds managed separately from the Diocese of Houma-Thibodaux Funds?Yes. The Catholic Foundation is a separate 501(c) (3) organization, where all funds are managed by the Foundation. The Foundation currently uses Mission Diocese Fund for all investments. Funds can only be appropriated based on the sole purpose for which the funds are specified and restricted for.
Can anyone gift to the Catholic Foundation.?Yes. The Catholic Foundation hopes to inspire all Catholics in our Diocese to embrace a culture of philanthropy. As a philanthropist, gifts of any size ensures your charitable intent is organized, impactful and benefits the ministries you are passionate about.
How does the Catholic Foundation work with my lawyer and financial advisor?The Catholic Foundation of South Louisiana works in partnerships with a donors professional advisors to develop your charitable giving and/or your estate planning based on your wishes. We encourage your professional advisors such as accountants, estate planning attorneys, and financial planners are part of your charitable giving decisions.
Who manages the Catholic Foundation 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. All funds are managed based on USCCB guidelines and are in accordance with the teachings of the Catholic Church.
What is the benefit of the Catholic Foundation rather than a Family Foundation?Private foundations allow you to continue involvement with your charitable assets, however, can be time consuming and costly to maintain appropriately. Private foundations are also required to distribute 5% of its net investments in order to not incur IRS penalties. Establishing a Donor Advised Fund with the Catholic Foundation of South Louisiana you can enjoy the same great benefits of a private foundation without the financial expense nor IRS reporting requirements. The Catholic Foundation can assist in your grant making recommendations, vetting nonprofits, and complete your anonymity, if desired. For more information about Donor Advised Funds please call 985-850-3116 for a confidential conversation today.
What are the fees associated with the Catholic Foundation of South Louisiana?TThere is no cost to establish a fund with The Catholic Foundation. Once the fund is established, donors are charged a small percentage, based on the size and type of fund, for both investment and administration.
Can I make a gift of stock? What other types of assets?Yes, the Catholic Foundation accepts gifts of appreciated stock, in fact, it is often more beneficial to make a gift of appreciated stock rather than liquidating it. The Catholic Foundation is also equipped and knowledgeable in accepting other complex gifts such as real estate.