of the Roman Catholic Church

Who manages the Catholic Foundation of utah?

The Catholic Foundation of Utah's daily operations are managed by an Executive Director, in conjunction with a consultative Board of Trustees, appointed by the Bishop of the Diocese of Salt Lake City. The Bishop is the board's Chairman. The Vicar General and Chief Financial Officer of the Diocese are Ex Officio board members. Trustees serve on an Executive, Investment, Stewardship, and Membership committees. 

Is the Catholic foundation of utah part of the Diocese?

While the Catholic Foundation of Utah exists to provide financial support to Utah Diocesan entities and ministries in perpetuity, it is a separate 501(c)(3) organization. Its finances and management are independent of the Diocese. 

How does the catholic foundation of Utah differ from the ddd? 

The Diocesan Development Drive (DDD) is an annual stewardship fundraising effort. Revenue raised by the DDD is vital to the Diocesan annual operating budget and is depleted throughout the year. 

The Catholic Foundation of Utah is a separate, non-profit corporation that oversees endowment funds established for the benefit of Utah Diocesan entities. Funds are managed and invested by professional advisors, and a percentage of the growth on those investments is distributed annually to each endowment's beneficiary.

The Catholic Foundation of Utah and the DDD do align in one very significant way. Both are guided by the leadership of the Diocesan Bishop, who reminds us to live as disciples of Christ - as faithful stewards who joyfully share gifts with those in need. 

What is an endowment?

An endowment is very simply a gift made by a donor to a non-profit organization to provide a permanent financial benefit to a charitable institution or purpose.

Can anyone create an endowment?

Yes. Any diocesan entity, a parish or a school for example, can create an endowment. Similarly, any individual or group can create an endowment with an investment of $10,000. Founding donor(s) select the beneficiary and purpose of the endowment.

Are donations through the Catholic foundation of utah tax deductible?

Yes. The Catholic Foundation of Utah is a 501(c)(3) corporation and contributions are tax deductible.

Can contributions be made to existing endowments?

Yes. Anyone at any time and for any amount may make a tax deductible contribution to an existing endowment. A contribution to an existing endowment can be a wonderful gift to celebrate a birthday, anniversary, or holiday, or a thoughtful and meaningful remembrance in lieu of flowers at the passing of a loved one.

Who gives, and what do endowments support?

Gifts come in all sizes, from a variety of donors. There are those who establish endowments, and those who support them. Some give in lieu of flowers, to celebrate special occasions, or in honor of loved ones. The common thread is that all donors give from the heart!

Endowments support Utah parishes, missions, schools, vocations, seminarian education, priest retirement, our Cathedral, Mount Calvary Catholic cemetery, Catholic social service agencies, and more. Click the "Foundation Endowments" tab to view a listing of endowments and the beneficiaries they support. 

Why aren’t all earnings from investment distributed?

The Catholic Foundation of Utah is committed to maintaining endowments permanently, as intended by donors to ensure the future of our diocese. In order for an endowment to be truly permanent and effective forever, its balance must constantly increase to keep pace with inflation. For that reason, a portion of the earnings is reinvested each year, while the remainder is distributed to beneficiaries.

Can I make a gift to the CFU through my will?

Absolutely. Many endowments are created through estate plans and proceeds from life insurance policies. A simple codicil which supplements an existing will may be all that’s needed to direct estate proceeds to the Catholic Foundation of Utah.

Why should I create an endowment rather than simply give money?

You can, of course, do both. A gift made for use now is always appreciated and sometimes necessary for a parish, school, or social service organization. But typically that gift is used to meet a current need, and then it's gone.

Establishing an endowment ensures a vehicle for ongoing financial support for your chosen beneficiary. Many donors establish an endowment and make subsequent gifts over time, or request donations from friends and family. An endowment becomes a gift that keeps giving, year after year. 

How are the endowments invested?

All endowment monies are combined for investment purposes and are invested according to the U.S. Conference of Catholic Bishops Guidelines on Socially Responsible Investing. The Investment Committee of the Board works with professional investment advisors and money managers to maintain a diversified portfolio typically composed of approximately 60% equities and 40% fixed income instruments.

How are investments monitored?

The investments are monitored through the Investment Committee of the Catholic Foundation of Utah, together, with professional money managers that carefully and frequently monitor assets.