St. Elizabeth Fund

St. Elizabeth Fund: A Donor Advised Fund (DAF) through Catholic United Financial Foundation for Entities within the Diocese of Sioux City

What is the St. Elizabeth Fund Donor Advised Fund?

This DAF is a giving vehicle established at the Catholic United Financial Foundation for the benefit of entities of the Diocese of Sioux City. It allows donors to make a charitable contribution, receive an immediate tax deduction and then recommend grants to entities of the Diocese of Sioux City from the donor’s fund over time.

DAFs are irrevocable. This means donors can’t change their minds once they contribute to a DAF. For example, if a donor establishes a DAF and then has a down year financially, he or she cannot regain, recoup, or otherwise take back the assets that were placed in the DAF.   As a donor, you can recommend one or more of four investment strategies for your fund.

DAF investments can grow tax-free. You can invest the money in the donor-advised fund account established at the Catholic United Financial Foundation and let it grow tax-free until you want to pay it out, and you get an immediate tax deduction.

Donors of this specific DAF must recommend grants to entities within the Diocese solely for charitable purposes.

Grants must go to a Diocese of Sioux City non-profit organization that is recognized by the IRS. No grants to individuals are allowed. The organization must have its IRS 501 (c) (3) designation.

Minimum initial investment: $5,000. You can add to the fund over time and those investments will also provide you with an immediate tax deduction.  See the link to the worksheet below.
 
Gift Options:  The St. Elizabeth Fund allows a donor to offer a cash gift, annuity, life insurance policy, grain, and stock or other approved property to begin the fund for Catholic entities within the Diocese of Sioux City.

Approved Diocesan Entities for St. Elizabeth Fund:

• Diocese of Sioux City
• Parish
• School
• Catholic Charities
• Holy Spirit Retirement Home
• Marian Home and Marian Village
• Grotto of the Redemption

You can specify a current fund or campaign with the organization(s) that you choose.

Example: John makes a cash gift of $10,000 to be invested in the St. Elizabeth Fund, and receives an immediate tax deduction on his initial investment. On an annual basis, John indicates to Catholic United Financial Foundation how he would like funds dispersed, which may vary from year to year. (Donations out of this fund can be made any time, but this is just an illustration).

Rationale:  Tax laws have changed and the threshold to include itemized deductions has as well.  This allows many taxpayers to take advantage of their charitable contributions.

Note:  While the donor’s intent is always first most considered, the Catholic United Financial Foundation has ultimate control.


Year 1: $1000 to the Diocese of Sioux City, $1000 to the parish, $3000 to the school.
Year 2: $2500 to the Diocese of Sioux City, $500 to Catholic Charities, $1000 to Grotto of the Redemption, $1000 to the parish

DAF FUND WORKSHEET

In order to begin investing in the St. Elizabeth Fund, please contact: 
John Schmitz, Director of Stewardship & Development j[email protected]


"Information contained here is not professional or legal advice. Consult a tax advisor or financial planner about your individual financial situation.”