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What is an endowment fund?
Although the specific use may vary greatly, endowment funds have a common objective: to provide support not just for one year, or even one generation, but in perpetuity. An endowment fund is a permanent fund in which the spendable amounts are available for the designated purpose.
What are the advantages of establishing an endowed gift?
Creating an endowment allows you to fulfill your own personal philanthropic goals while helping support the needs and mission of Cathedral High School. Such examples that a named endowment may be established include: permanently honor a loved one or mentor, say thank you for an education, celebrate personal and professional accomplishments, or, perhaps, to leave your permanent legacy.
Named Endowed Funds
To establish a named endowed fund, the donor or family must make a commitment of at least $25,000. This may be paid at the time the fund is established or over a multi-year period.
Each year, the interest of the endowed fund will be used as designated by the donor (the principal remains untouched).
Should a named endowed fund not reach that level, the funds will be transferred into the schools general endowment.
Check Out This Potential Scenario
- Seek the advice of your financial or legal advisor.
- Contact Abbe Ernstes at (317) 968-7348 or firstname.lastname@example.org to discuss endowed gifts.
- If you include Cathedral in your plans, please use our legal name and Federal Tax ID.
Legal Name: Cathedral Trustees, Inc.
Address: 5225 East 56th Street, Indianapolis, IN 46226
Federal Tax ID Number: 35-6254955
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.