What is an endowment fund?
Endowment Funds are separately incorporated, non-profit organizations, created to assist various Catholic initiatives in the Diocese of Duluth. These organizations receive donations, gifts and bequests which are restricted for the specific mission of the organization. Endowment Funds may also contain funds that have a perpetual restriction where only the interest may be used to support the mission.
Why did the Diocese establish endowment funds?
The advantage of an Endowment Fund is that it gives donors the opportunity of providing a gift that will keep on giving well into the future. It guarantees future stability and a foundation on which to grow. Creating an endowment fund ensures responsible stewardship, and helps the Catholic Church maintain a strong presence here in the Diocese of Duluth.
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