Frequently Asked Questions

What is The Catholic Foundation of Greater Philadelphia?

We are a community foundation dedicated to helping both individuals and non-profit organizations achieve their charitable goals.

The Catholic Foundation of Greater Philadelphia offers the opportunity to make a lasting impact on the organizations you care most about by providing a single source of consolidated giving, and by distributing that gift to as many organizations as you want to support. Our professional staff ensures that your giving process is simple and that your gift is allocated according to your wishes.

Through our Mission Advancement Services (MAS), CFGP offers non-profit organizations professional development and fundraising counsel, charitable fund establishment, as well as strategic marketing services.

The Catholic Foundation of Greater Philadelphia is a non-profit 501(c)3 organization.

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What services does The Catholic Foundation of Greater Philadelphia provide?
  • Endowments
  • Donor-Advised Funds
  • Program Funds
  • Deferred Gifts
  • Charitable Gift Annuities and Remainder Trusts 
  • Feasibility Studies
  • Increased Offertory Campaigns
  • Planned Giving
  • Grant Writing
  • Capital Campaigns
  • Volunteer Training
  • Annual Appeals
  • Board Management
  • Special Events
  • Public Relations
  • Non-Profit Development 
  • Major Gift Consulting
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What are Mission Advancement Services?

Mission Advancement Services (MAS) of The Catholic Foundation of Greater Philadelphia  provides development services and strategic counseling for all sizes of non-profit organizations, parishes, institutions, and schools.

Who can establish a fund with The Catholic Foundation of Greater Philadelphia?

Individuals, families, corporations, family foundations, parishes, schools and other entities can all establish a Fund within The Catholic Foundation of Greater Philadelphia. We provide governance, investment tools and oversight so you don’t have to replicate it yourself. 

What charitable opportunities are offered?
  • Endowments
  • Donor-Advised Funds
  • Program Funds
  • Deferred Gifts
  • Charitable Gift Annuities and Remainder Trusts
How much is needed to open a fund?

Starting a fund with The Catholic Foundation of Greater Philadelphia is easy.

  • Donor-Advised Funds:
    • A minimum deposit of $5,000 or more in cash, securities or property is required to start a Donor-Advised Fund. Per your donor agreement, once the fund balance reaches $10,000, you may recommend distributions from your fund.
  • Program Funds:
    • A minimum deposit of $5,000 or more in cash, securities or property is required to start a Program Fund. Per your donor agreement, once the fund balance reaches $10,000, you may recommend distributions from your fund for the organization’s programs and needs.
  • Endowment Funds:
    • Restricted funds require a minimum commitment of $50,000 and
  • Charitable Gift Annuities:
    • Charitable Gift Annuities require a minimum commitment of $10,000 and unrestricted funds a commitment of $25,000. Donors should be approximately 65 years of age.
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How quickly can I create a CFGP Fund?

Once the final application is submitted your account will be established and ready to receive contributions within two business days.

Can my family be involved in my CFGP Fund?

Yes, anyone can contribute to your Fund. You can also name family members as advising or successive authorities to the Fund.

How are the assets in my fund invested?

At CFGP, you can choose an investment strategy from a variety of options.

What types of fees are attributed to my fund account?

Charitable administrative fees are charged to your CFGP Fund account. These fees cover banking fees, grantmaking, record keeping, annual audits, tax filing, quarterly statements, insurance and various other operating expenses.

What happens to my CFGP Fund if there are no successors?

If you have not recommended successor authorities for your CFGP Fund, or recommended distributions to charitable organizations from the Fund, the account balance will be transferred to the CFGP General Fund and distributions to qualifying charitable organizations will be determined by the CFGP Board of Trustees.

How can I contribute to a Fund?

CFGP accepts a wide range of assets:

  • Cash
  • Publicly traded securities including stocks, bonds, mutual fund shares
  • Restricted and controlled stock
  • Real estate
  • Privately-held stock
  • Proceeds from life insurance or from a full-paid policy
  • Private foundation grants or terminations
  • Bequests
  • Named beneficiary of charitable remainder trust
  • Named beneficiary of an IRA, 401(k), or other retirement account
  • Physical personal property
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When is a contribution to a CFGP Fund considered a charitable donation?

Depending on what type of asset you contribute, the contribution becomes a charitable donation when it is out of the donor’s control and transferred to the Fund.

Can I contribute assets from my IRA to a CFGP Fund?

You may name the Fund as the charitable beneficiary of all or part of an IRA, you should consult with your tax advisor or attorney to see how this effects your tax eligibility or filing needs.

Are additional contributions to a CFGP Fund tax deductible?

Yes.

How often can I make contributions to a CFGP Fund?

As often as you would like.

Will I get a receipt for my contributions?

Yes. CFGP will provide you with a written acknowledgement of your fund. This acknowledgement also serves as a receipt for your taxes.

Does my tax deduction depend on the type of asset I contribute to a CFGP Fund?

An income tax deduction will depend on different factors, including the type of asset and the length of time it is owned, but we can work with you and your tax advisor.

Can the income accrued in my fund account be deducted as an additional charitable donation?

No, only contributions to your CFGP Fund are tax deductible. Growth inside the fund account is not eligible.

How is a distribution made from my fund?

Simply fill out a distribution form, we will then review the recommendation and take care of the rest.

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Is a fee charged for each distribution?

No, CFGP does not charge a fee for distributions.

How many distributions can I recommend in a year?

There is no limit to the number of distributions you can make.

What is the minimum amount for a CFGP distribution?

$250

Can I recommend a distribution from the Fund for an event?

No. When you make your contribution to a fund, your contribution is 100% tax deductible. That is because you do not receive any goods or services in exchange for that contribution. Charitable events provide attendees with benefits and thus, a portion of the ticket price is not a charitable donation and not deductible for income tax purposes.

How do I know what charity to support?

The Catholic Foundation of Greater Philadelphia can help you determine where to focus your philanthropy. Education? Health care? Family issues? Vocations? Social Services? Wherever your charitable heart wants to take you, our professional staff can help guide you and be your constant resource.

Can I recommend a distribution to pay a pledge I have made to a charitable organization?

No, if your distribution from your Fund satisfies a pledge you would be receiving something for that contribution, namely a release from an obligation, so it would not be a charitable contribution.

Can I make an anonymous distribution from my fund?

Yes.

Can my company match a distribution I recommend?

Yes, please check with your company for specific policies.

How does my organization apply for a grant from CFGP?

The Catholic Foundation of Greater Philadelphia provides grants and micro-grants to organizations whose mission aligns with that of the CFGP’s.

General Guidelines for CFGP Grant-Seekers:

  • There are set deadlines for grant applications. Please see the application for details. (Click here for grant application)
  • Proposals are shared with the CFGP Grant Committee, who assist in making grant decisions.
  • Grants will be awarded to organizations whose proposals show a clear innovative plan for feasibility, sustainability, and impact.
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Where can I learn about establishing a planned gift?

Please visit catholicfoundationphila.plannedgiving.org or call 215.587.5650 for more information on establishing a planned gift.