The Corpus is the initial contribution given to establish the fund, as well as any additional gifts to the endowment.  These contributions create the “principle” of the fund. The fund’s principle is never spent.  Shouldn’t the principle be the minimum gift requirement or original gift if greater as gifts can continue to be made which would mean the principle value would continue to change?

The principle (corpus) grows with every donation/contribution.

Is there a list of approved organizations/programs to assist donors in deciding where to direct the distribution of a fund they establish?

The Foundation was created to benefit the parishes and ministerial programs within the diocese. 

Is there a performance /investment statement that shows investment strategy and allocation of the Foundations assets? How often are those generated?

The Foundation Investment Policy is available for review.  Investment summary statements are posted on the Diocesan website and are only open to parishes (login to Business Office section).An annual statement can also be requested.

Can donors make gifts that are anonymous?
            Yes.

What is the average turnaround time of submitting a fund agreement for approval and it being approved?

Straight forward requests are turned around promptly.  Requests that may be outside of the norm may require a meeting with the Advisory Board.

Since investment funds are reconciled monthly, are fund statements updated and available on a monthly basis? Is online access available?

Yes, updated monthly.  Parishes will be able to view individual fund activity on DLS (similar to D&L accounts).

What quarter end is calculation based on going backwards in history and when is the  organization/individual notified of what is available?

Per Distribution Policy, distributions are calculated annually.

Are the options for distribution only distribute or re-invest? Can the annual distribution be “set aside” in cash for distribution at a later date?

Per Distribution Policy and Bylaws, annual distributions are available for distribution.   If not taken, the amount available for distribution is rolled into the corpus.

Can funds be amended by organizations/individuals if the organization/individuals would like to change the purpose of distributions or beneficiary? If so, what is the turnaround time?

No.  The Foundation adheres to the each Fund Agreement which documents the donors’ intent.

Is donor advised funds available or only the Organization and Individual/Family designated funds?

The investment pool established by the Diocesan Investment Committee is the vehicle utilized for investments.

Is the website fully built for access to fund statements and financial performance reports?

Monthly Investment Pool summary statements are posted on the Diocesan website under the Business Office portal.  Individual Fund activity is available to parishes via the DLS system similar to their D&L accounts.

Can an organization fund have the distribution split between restricted use and unrestricted purposes?

The Foundation distributes based upon the Fund Agreement established. 

If the distribution begins with 4 quarters of history for an organization fund and the average market value for those 4 quarters falls below the original gift amount does the fund distribute?

Distributions cannot be made which would result in the endowment fund falling below the principal amount.

Can pledges be made to an organizational fund from donors and if so, are pledge reminders sent out?

The Board decided that pledges will not be tracked.

If a parish fund is set up and the parish program ceases to exist, can the parish stipulate in the fund agreement where the assets are to be transferred to?

Section 5.4 in the BYLAWS covers this topic.   The parish is encouraged to establish an endowment Fund Board (if they establish an endowment in the foundation), who will make this decision if the parish program ceases to exist

Can individuals be involved in the selection of annual distributions from his/her fund?

Yes. This can be achieved with proper documentation within the original fund agreement.