CHARLOTTE — The Diocese of Charlotte Foundation recently surpassed the milestone of $60 million in assets.
The foundation, established in 1994, provides a means for people and organizations to provide long-term financial stability for the diocese and its more than 180 parishes, schools, agencies and ministries.
Over the past 27 years, the foundation has grown to encompass 280 endowments that total $60.4 million in assets as of Aug. 31.
An endowment is a permanent fund, the principal of which is never touched, but the income from which can be used in accordance with the wishes of the donor organization or person.
Endowments provide a way to generate income and help sustain the long-term strength and viability of the diocese and its parishes, schools, agencies and ministries.
“The endowments in the foundation range from several thousand dollars to over $4 million. We are also finding that more and more people are establishing named endowments to honor or remember a loved one. Currently, 142 of the 280 endowments are named endowments,” said Jim Kelley, diocesan development director.
Those who make a planned gift to the diocese or any of its parishes, schools, ministries or agencies become members of the Catholic Heritage Society. The society is the diocese’s way of honoring the Christian generosity of Catholic friends who are providing for the future of the Church in western North Carolina.
The Catholic Heritage Society is comprised of more than 1,300 people in the diocese, many of whom are leaving gifts to the foundation in their wills.
The foundation sends reports out to all these endowment holders every quarter stating where their endowment stands and how much is available to distribute. As a rule, the foundation makes available 5 percent of a rolling three-year average value of its total assets. Since 1994, the foundation has distributed more than $11 million to the diocese and its parishes, schools, agencies and ministries.
One example of an endowment making a real impact in the diocese is the Eugene and Carmen Rossitch Endowment Fund for Seminarian Education, established in 2006 to ensure the continued support of seminarians’ education in the diocese. The diocese now has 41 men in various stages of formation – an indication of the diocese’s growth and successful emphasis on promoting religious vocations.
“We are finding more and more people in the diocese are remembering the Church in their estates. Many of them are establishing endowments in the foundation, where their gifts can have a lasting impact. Gifts made once in an endowment continue to give forever,” Kelley noted.
— SueAnn Howell, Senior reporter
Create an endowment
Interested in setting up an endowment? Establish an endowment in the Diocese of Charlotte Foundation by leaving a bequest in a will, a beneficiary designation from a retirement plan, a gift of real estate, a gift of life insurance, cash or securities sufficient to set up an endowment, or a life income arrangement such as a trust or annuity. For details, contact Gina Rhodes at 704-370-3364 or This email address is being protected from spambots. You need JavaScript enabled to view it..