The new Catholic Foundation for Diocese of Salina (CFDS) is about to go live. The foundation will accept its first funds July 31. The mission of CFDS is to support all aspects of the Catholic faith in the Diocese of Salina by developing, managing, growing and granting funds using Catholic values and honoring the donor’s intent.
“Simply put, we hope to create a circle of support with our donors to ensure that our parishes, schools and ministries are able to continue God’s work here in our Salina Diocese,” said Foundation CEO Katie Platten. The new Catholic foundation is independent from the diocese, with Bishop Vincke as a member of the board –allowing for the oversight required by the Code of Canon Law. The remaining board members are mostly laypeople from across the diocese with a wide variety of experience in matters of finance, investments and development.
All current endowment funds held by the diocese and the Catholic Community Foundation, an affiliate of the Greater Salina Community Foundation, will move to CFDS. Foundation staff are currently working with those fundholders to set up new fund agreements in advance of the transition date. This means the new foundation will begin with approximately $19 million in assets under management. CFDS will offer endowment and expendable funds for religious organizations and for private individuals who wish to start their own funds to support their favorite Catholic ministries.
Endowment funds are funds in which the principal is perpetually protected while the earnings are used to support today’s needs.
Expendable funds can be either short-term savings for a particular project or long-term savings for Catholic institutions and ministries.
Funds will be invested in the market to deliver competitive returns, while ensuring they are invested in alignment with our Catholic values. To encourage all diocesan institutions to have a fund at the CFDS, any parish, Catholic school or other Catholic ministry or
organization can open an expendable fund with just $100. Donors will be able to contribute to these funds online or by more
traditional means.
“We are excited about the opportunity that the foundation will bring to our diocesan Catholic community,” Platten said. “Our hope is that one day, every organization within the diocese will have an account at CFDS. Our goal is to serve our Catholic
donors as we seek to provide for future generations of Catholics.”
For more information, contact Platten, katie.platten@salinadiocese.org, or Beth Shearer, beth.shearer@salinadiocese.org, or call (785) 827-8746.
