An endowment is a gift of money or other donated property (stocks, bonds, real estate, etc.) invested to produce ongoing income for a specific or general use.
The donor who establishes an Endowment is, in essence, creating their own Catholic legacy. They have the opportunity to name a specific beneficiary within the Diocese. For example, many individuals and organizations establish endowments to ensure that Catholic cemeteries, schools, parishes and ministries will continue to receive annual support. Donors may establish and name the endowment for a minimum gift of $5,000. Anyone can add to an existing endowment at any time and in any amount.
The gifts contributed to an endowment are referred to as the “principal” or “corpus”. These gifts always remain intact and are invested so that the endowment will continue to grow and the beneficiaries will receive an annual distribution forever. Each year, an annual distribution is made available to each beneficiary to be used for the purpose of the original intent.
An endowment application is available on line so that you may begin the process of Creating your Catholic Legacy. Your charitable gift through an endowment is truly perpetual and will help to secure the future of your parish, school, or other specific area within the Diocese of Evansville.