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Catholic Foundation of South Georgia

Frequently Asked Questions

What is the Catholic Foundation of South Georgia?
The Catholic Foundation is an independent, charitable foundation established to provide endowment funds for parishes, schools and agencies of the Diocese of Savannah.
What is the purpose of the Foundation?
The Catholic Foundation was established to provide a means for individuals and organizations to provide long term financial stability for the diocese and its churches, schools, and agencies. Through the creation of individual endowments, the Catholic Foundation generates income through its investments to help sustain the long-term strength and viability of parish, schools and other diocesan entities.
What is an endowment?
The Catholic Foundation adheres to the strict definition of a True Endowment, which is a permanent fund created in perpetuity, of which the corpus is never invaded. The income is used annually, in accordance with the Distribution Policy of the Catholic Foundation, to make gifts, grants or scholarships as the donor originally intended when establishing the fund. An endowment fund should not be confused with a savings and loan account or reserve fund.
Why would an individual or Catholic organization want to create an endowment fund?
By creating an endowment fund, an individual can take another step in living out the life of stewardship. Just as we make gifts to our church monthly, we now have an opportunity to give from our accumulated assets to endow what has been most important in our lives. A parish or school can establish an endowment and move toward providing a income for years to come and a way for families to give planned gifts. Endowment funds provide for the future needs of our parishes, schools and agencies.
Who manages the Catholic Foundation?
The Catholic Foundation is managed by a Board of Trustees composed of clergy and lay people across the Diocese of Savannah. The Board's objective is to pursue an investment policy consistent with reasonable growth while prudently safeguarding the principal. The Trustees are leaders in their parishes and communities and are accountable to both donors and recipients. As good stewards, they hired a professional investment manager to invest the Catholic Foundation's assets and audit the Catholic Foundation's year-end financial statements.
Are the Catholic Foundation assets separate from Diocesan funds?
Yes. The Catholic Foundation is a separately incorporated 501 (c)(3) organization. This provides for a layer or protection in case of lawsuits and prohibits anyone from appropriating money from the Catholic Foundation for any purpose other than that for which it is specified.
Can I/we add to my/our endowment fund?
Yes. In fact, most Catholic entities and families develop a plan for building their endowment fund. You may add to your endowment in any amount at any time.
Does the Catholic Foundation charge a fee for managing endowments?
Yes. The Catholic Foundation's fee for management and administration of the endowments will be established by the Trustees. It is usually based upon a percentage of the fund balance.

Executive Director

Liam O'Connor
912-201-4061


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