ENDOWMENT PROSPECTUS
The endowment program of Catholic World Mission, Inc. aims to assist benefactors seeking to provide financial stability and permanence to Catholic World through the establishment, administration and management of endowment funds that will provide regular income for operations.
We further offer administrative assistance to schools and apostolates to further their mission and purpose with financial stability.
Three types of endowments are available:
The first provides no principal invasion but a distribution of net income on an annual basis which fulfills the purpose of the endowment, such as funding a scholarship, benefits and salary incentives.
The second provides for principal invasion which may be distribution of capital gain along with net income or a combination of capital gain and a fixed percentage of principal and net income. Once again, funds are distributed to fulfill the purpose of the endowment, such as meeting the need to fund fluctuating expenses such as purchase of equipment or funding excellence awards programs.
The third type is a depleting endowment wherein both income and principal are disbursed to fulfill the terms of the endowment, such as purchase of property, construction of or major maintenance to a building. In this case, any remaining principal at the completion of the project may be disbursed to either of the other two endowment types.
It is the policy of Catholic World Mission, Inc. that the Gift Acceptance Board and Board of Directors oversee the endowment at the discretion of the school or apostolate 501(c)(3) organization. This ensures compliance with the document, prudent investment of funds and proper disbursement. The Gift Acceptance Board provides assistance and guidance to the Board of Directors of the school or apostolate.
The Investment Policy of Catholic World Mission, Inc. requires that funds are invested in aggregate of 65% in fixed income securities and 35% equities. We also screen the investments to meet our criteria of Catholic, morally acceptable investments as per guidelines attached that are updated from time to time.
Members of Catholic World Mission, Inc. will work closely with the board members of the apostolates and schools to assist with establishment and administration of the endowment programs. Statements are issued on a periodic basis which show the name of the endowment, all activity associated with it and performance evaluation. If an endowment has more than one contributor, individual as well as aggregate statements are available.
All endowments are administered in accordance with the endowment agreement, local, state, federal regulations and authorities governing charitable organizations.
For further information on creating or adding to an endowment program, please contact: Fiduciary Services, Donna E. McKay at (203) 287-6309.
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