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The Catholic Community Foundation
The Catholic Community Foundation is an independent 501(c)(3) non-profit foundation fully endorsed by the Diocese of Richmond and its Bishop. It is committed to raising, managing and distributing charitable funds to meeting the diverse needs of the people and communities comprising the 33,000 square miles of the Diocese. The Foundation will be overseen by a Board of Directors and will be subject to an independent annual audit by certified public accountants.
Mission of the Foundation
The mission of the Catholic Community Foundation is to build a dynamic force of Catholic philanthropy in the Diocese of Richmond that enables donors to make a significant impact in the lives of others by helping to perpetuate the work of its parishes, schools and ministries. By providing major endowment gifts, bequests, charitable gift annuities, trusts and/or other legacy gifts through the Foundation, donors build long-term financial stability for the Catholic causes they hold dear while making a profound impact on the future generations of our Church.
Creating a Perpetual Endowment Fund
There are several different types of endowed funds that may be established to sustain and advance the mission of the Church. The nature of a traditional endowment fund is that it is perpetual. With that in mind, distributions to the intended beneficiary and for the intended purpose from the fund are made from growth and earnings. The original principal of the fund will not be invaded to make distributions. Endowment funds can be established for a parish, school and/or Diocesan ministry and individuals can establish an endowed fund in their name or the name of a loved one.
The Living Our Mission Campaign
The Living Our Mission Campaign will begin to build endowed funds in the Catholic Community Foundation of the Diocese of Richmond. Funds will be created through the campaign case for support for seminarian formation, clergy advanced education, youth, young adult and campus ministry, social ministry outreach, and mission parishes.
Parishes are encouraged to designate some of their share of campaign proceeds to initiate a parish endowment fund in the Foundation. Legacy gifts will be encouraged from parish leaders during the active phase of the parish campaign and steps will be taken to organize efforts to promote legacy giving throughout the parish after the active campaign. Legacy gifts are often the largest gifts that individuals can contribute. These efforts will have a transformational impact on parish mission in the future.
Individuals can establish funds in their own name or in the name of a loved one with a total pledge of at least $50,000 and an initial contribution of at least $10,000. These funds can be designated for parishes and can also be named by the donor for Catholic mission and ministry within and beyond the Catholic Diocese of Richmond.
Lumen Christi Legacy Society
Lumen Christi is Latin for Light of Christ. It calls each Catholic to allow the light of Christ given to them at Baptism to live on through them as a light to the world by their final and faithful generosity. The Catholic Community Foundation will encourage every Catholic to consider how they can make a legacy gift as a final act of faith, a demonstration of love for God and others, and a witness to those who live on. The Lumen Christi Legacy Society is a way to express gratitude to every legacy contributor and to champion the blessing of legacy giving to all members of the Church.