What is The Catholic Community Foundation of the Diocese of Salina?
What is The Catholic Community Foundation of the Diocese of Salina? The Catholic Community Foundation of the Diocese of Salina is a collection of funds designed to link donors and the ministries of the Diocese of Salina. The Foundation serves all 31 counties of the diocese and the Catholic institutions that work in them.
Who can give?
Who can give? Anyone. Donors to the Foundation come from across the diocese to support the future of the diocese and the Church.
How are the funds managed?
How are the funds managed? A local board of directors, led by the Bishop, guides the foundation. The board is responsible for all grant distributions from the Foundation.
As an affiliate of the Greater Salina Community Foundation, funds are managed by a Greater Salina Community Foundation board committee that follows solid and responsible investment strategies to assure donors of the security of funds.
Is there someone available to answer questions?
Is there someone available to answer questions? The Foundation Executive Director and Board of Directors are available to assist donors in creating funds, speak to parish groups and answer questions from donors or charitable organizations. Additional staff in the Greater Salina Community Foundation office includes an Executive Director, Finance Officer, Affiliate/Scholarship Coordinator, Administrative Assistant and a Youth Coordinator.
What's the minimum donation?
What's the minimum donation? No gift is too small. Gifts of $25, $10, or even $1 can be made to an existing fund such as an organization, field of interest or designated fund, the Bishop's Fund, as memorials or charitable contributions. That is what makes this truly a community foundation. Minimums do exist for those who wish to establish a fund.
Are gifts to the Foundation tax deductible?
Are gifts to the Foundation tax deductible? Our status as a public charity ensures that contributions to the Foundation are tax deductible to the highest extent allowed by the Internal Revenue Service. The donor receives tax benefits in the year a gift is made. Grants made from a donor’s established advised fund are not tax deductible.
Who manages the Foundation’s funds?
The Foundation manages a pooled investment fund under the guidance of the Greater Salina Community Foundation Investment Committee. By pooling funds, the Foundation is able to provide donors the advantage of diversified investments and economies of scale in investments and fees.
Donors who establish funds of $25,000 or more may request an outside fund manager, as long as that manager is approved by the Foundation.
Who monitors the Foundation?
Who monitors the Foundation? A 11-member volunteer board of directors, led by the Bishop, governs the Foundation. The Foundation also receives assistance from the Greater Salina Community Foundation. The Foundation is publicly accountable. An annual independent audit, tax returns and public disclosure of grants provide confidence as to the proper use of Foundation funds. A copy of the full audited financial statement and the most recently filed Form 990 are available for review. The Greater Salina Community Foundation has recently received accreditation for National Standards for U.S. Community Foundations from the U.S. Council on Foundations.
What costs are involved?
There is no cost to set up a fund. The GSCF board determines administrative contributions annually. These contributions are never more than 1% of the annualized fair market value of a fund.
Is the Foundation going to be here forever?
Is the Foundation going to be here forever? The Catholic Community Foundation of the Dioces of Salina is an affiliate of the Greater Salina Community Foundation, which has grown to more than $44 million in assets in just over seven years. The Catholic Community Foundation of the Diocese of Salina helps to support the work of the diocese which has been in existence since 1887.