It’s not just about our grant program here at the Foundation. Every year, in September, we distribute checks to over 100 organizations across the Archdiocese. These distributions are separate from our grant program because they come from designated endowments. What does this mean? It means that when a donor sets up an endowment, they designate who the beneficiary is and every year that beneficiary will receive a distribution from the endowment. And, the beneficiary will continue to receive that annual check, in perpetuity, because the Foundation does not distribute from the endowment’s principal, instead they distribute an average of 4% from the annual fund earnings.
This year our designated endowment distribution totaled over $1.4 million and went to funding programs and projects throughout the Archdiocese of Santa Fe. Because of these designated endowments, our donors are able to leave a legacy of giving and an annual income source for their favorite parish, Catholic school or organizations.