The Foundation uses endowment funds to support the long-term needs of parishes, schools, ministries and charities.
An endowment is a permanent, self-sustaining source of funding for a designated parish, school, ministry or charity. Only a portion of the market earnings from the endowment (4%) is distributed to the organization benefiting from the fund to assure the donor’s original gift will grow over time.
When you establish an endowed fund, you create a permanent legacy of support that will make a lasting impact on our Catholic community. With a 4% distribution from endowment assets to designated beneficiaries each year, the Foundation is demonstrating how endowments make a difference.
The Foundation is committed to serving as responsible stewards to its donors by providing effective and efficient investment and distribution of funds. We have a long history of responsibly operating our programs and we maintain our standards by annually assessing our costs.
One of the hallmarks of the Foundation is its policy on investing.
The Catholic Legacy Fund is the umbrella term for all of our endowments funds. All funds are separate and money cannot be moved between funds. Our goal is to build the fund to $25 million, which will generate $1 million annually to support our Catholic faith in the Diocese of El Paso.
In 2018, the Foundation awarded $210,014 in scholarships to 145 Foundation Scholars attending El Paso’s Catholic Schools. Most of this scholarship aid was distributed from scholarship endowed funds, with the remainder coming from donations and a grant from the Hunt Family Foundation.
For some families, establishing an endowment is a way to help sustain their parish or for provide support for their favorite Catholic charity. Others have remembered their parish, diocese or Catholic school in their will.
If you are interested in legacy and planned giving, please contact our major gifts officer Sofía Larkin at (915) 872-8412.