Diocese of Youngstown Foundation
The Roman Catholic Diocese of Youngstown Foundation offers Catholics an opportunity to share in the mission of the Church beyond their own lifetime. By establishing an endowment fund or contributing to an existing endowment fund, Catholics can support their favorite Catholic causes in perpetuity. An endowment fund is a fund comprised of gifts which, when invested, provide interest income in support of a designated purpose … forever! Typically only the interest earned on the fund is used for the purpose stated in the fund agreement and the asset base remains in-tact. The asset base of the fund grows through sound investment and additional gifts.
The Foundation forms a partnership … a sacred trust with donors. The Foundation Board of Trustees comprised of Catholic Lay, Clergy and Religious Leaders assists the Bishop by overseeing the prudent investment of the Foundation’s assets while ensuring that the funds are disbursed according to donors’ wishes. The Foundation is audited annually by independent auditors and publishes an annual report that reflects the stewardship of the resources entrusted to it.
The Catholic Diocese of Youngstown Foundation advances Christian stewardship by promoting legacy gift opportunities and by offering prudent financial practices that together provide funding for the long-term needs of the Diocese of Youngstown.
A Legacy Fund
YOU can Leave A Legacy by naming your parish, a Catholic School, Catholic Charities or favorite Catholic cause as beneficiary in a Legacy Fund in the Diocese of Youngstown Foundation. Your tax deductible gift of cash, securities, life insurance or a bequest in one’s will can be used to establish your fund. You name your fund, designate the beneficiary and know that your legacy will “live on” in perpetuity. The minimum amount to establish a Legacy Fund is $25,000.
What is a Pending Legacy Fund?
YOU can establish a Pending Legacy Fund for a minimum of $5,000. A Pending Legacy Fund becomes A Legacy Fund (as described above) when additional funding brings its value to $25,000. A Pending Legacy Fund must reach the $25,000 threshold in five years.
What is a Testamentary Pending Fund?
YOU can establish a Testamentary Pending Fund through a will or estate plan. Simply include your named Legacy Fund in your will or estate plan and at the time of your death a gift will be made perpetually to your favorite Catholic cause.