The Catholic Community Foundation is experiencing significant growth from two perpetual endowments to benefit two long-standing local Catholic organizations.
Catholic Charities Community Services and St. Mary’s Catholic High School have contributed a total of $ 2 million to their endowment funds managed by the Catholic Community Foundation (CTF).
These funds will not only provide a more sustainable financial future for their recipient organizations, but will also be eligible for the CCF 25% Million Dollar Match program, securing an additional $ 250,000 for each organization.
“We are delighted to see more organizations taking control of their financial futures,” said Deacon James Carabajal, CEO of the Catholic Community Foundation. “And with our Million Dollar Match program in effect, these funds will be doubled by 25%, which will multiply the impact of their missions forever. “
Endowments are long-term investment vehicles designed to withstand economic instabilities. The capital balance of an endowment continues to grow as a percentage of the return is distributed each year to the designated nonprofit organization. Because endowments are designed to provide predictable financial support forever, they are an ideal fund for organizations wishing to alleviate uncertainty about future funding.
“We are so fortunate to be able to leverage our own long-term investment with an additional donation of $ 250,000 from the Catholic Community Foundation,” said Paul Mulligan, President and CEO of Catholic Charities Community Services.
“Each year, the needs of our community continue to grow. This funding allows us to help more of the most vulnerable people in central and northern Arizona, now and in the future. “
The Catholic Community Foundation holds over $ 100 million in assets, primarily for the benefit of local parishes, schools and nonprofit organizations. Since 2015, CCF has reinvested more than $ 25 million in the community through grants and scholarships. The CCF strives to help all individuals and organizations achieve their financial and philanthropic goals while continually giving back to our loyal community. CCF is the trusted financial institution for long-term, sustainable giving to our community.
Established in 1983, the Catholic Community Foundation is a private, non-profit 501 (c) (3) financial institution that encourages charitable and compassionate giving in order to provide lasting support to those who serve our community. The foundation is also a separate canonical institution, so our donors can have peace of mind knowing that their contributions are protected and invested in portfolios selected at 99% Catholic stocks.