1.     How old is The Catholic Foundation of Southwestern Indiana?
In the latter half of the 1980s, Bishop Francis Shea worked with volunteer attorneys, CPAs and other professionals who helped write the by-laws and articles of incorporation for what was to become The Catholic Foundation. In 1988, The Catholic Foundation was granted a charter by the State of Indiana. The work to establish an operating organization continued until Bishop Shea’s retirement. In 1992, following Bishop Shea’s initiative, Bishop Gerald Gettelfinger activated The Catholic Foundation of Southwestern Indiana, Inc. by appointing its first full board of directors.

2.     Where is The Catholic Foundation of Southwestern Indiana’s office?
We are located in The Catholic Center, 4200 N. Kentucky Avenue, Evansville. The Foundation leases office space at The Catholic Center. The Foundation pays for all of its own office expenses.

3.     What geographical area does The Catholic Foundation of Southwestern Indiana serve?
We serve the geographical area of the Diocese of Evansville, Indiana. This is a 12-county area in southwestern Indiana with more than 70 parishes and neraly 90,000 Catholics. The work of the charitable endowments managed by The Foundation affects a wider swath than the parish community.

4.     How is The Foundation governed? Does its board meet?
The Board of Directors of The Catholic Foundation governs all operations and actions by The Foundation. The Board of Directors represent all deaneries of the Diocese with a 25 member limit.  The board meets quarterly. Its committees are working committees that also meet quarterly to conduct business.

5.     Who manages The Catholic Foundation’s funds?
The Finance Investment committee, chaired by a member of the board of directors, manages the funds. The committee comprises experts in the field of financial planning and investment management. The committee makes investment and disbursement recommendations to the Board of Directors. The full board must vote before action is taken.

6.     Who determines how much money each endowment beneficiary receives each year?
In the last quarter of each calendar year, the Finance Investment committee determines the annual payment (distribution) to endowment beneficiaries. This distribution is based upon annual earnings of The Foundation’s assets, the current and projected rates of inflation, the world and United States economy, and other economic factors. The committee makes a recommendation to the Board of Directors who must vote before the actual distribution is made to endowment beneficiaries.

7.     What qualifies as an endowed gift? How much do I need to give?
To add to an endowment, a gift of any value can be made at anytime. To open a new endowment, the donor or donors must have $5,000 for the corpus.

8.     Are the endowments protected as permanent gifts?
Yes.  As a legally established investment contract, the endowment is a permanent gift to be used in a way set out in its establishment contract.  The Catholic Foundation is a separate not-for-profit established to manage and protect these assets.

9.     Does the beneficiary have options on taking the annual distributions? 
Yes.  A beneficiary has 3 options each year: 

                1. They may take the annual distribution in whole or part.

                2. They may reinvest the distribution back into the endowment, where it will become

                     part of the corpus.

3.   They may elect to place the distribution into an “unrestricted” part of the endowment,

     where the funds may be withdrawn at anytime.

10. Who pays for the operation of The Catholic Foundation office?
The Catholic Foundation’s office income is generated from three sources:

                1. The annual assessment fee received from each endowment. This is calculated on a

                     monthly basis. The current annual fee is .75% for restricted balances and 1% for

                     unresricted balances.

                 2. The annual distribution from the Catholic Foundation Operating Endowment.

                 3. Personal gifts from past and current Boundation Board members.

11. Who keeps track of the investments and donations?
The Catholic Foundation office, the trust company, and the Finance Investment Committee.  The Catholic Foundation conducts an annual audit with an outside Accounting Firm.