Frequent Questions What is the Catholic Communal Fund of New York? What are the advantages of donor-advised funds? Other charities offer donor-advised funds. Why should I set up a fund with the Catholic Communal Fund? Do I have to give to a Catholic charity? How can I open a fund? How long does it take? How do I make a grant for my fund? How does a bequest work? Are there fees associated with setting up a fund? Who manages the fund? May I change the asset allocation of my fund?   What is the Catholic Communal Fund of New York? The Catholic Communal Fund is a communal philanthropic fund that allows its charitable donors to give in a variety of ways, to myriad worthy causes: from helping the elderly, the homeless and the needy, to libraries, establishing scholarships and other causes both within and beyond the Catholic faith. Back to top   What are the advantages of donor-advised funds? Those who have established donor-advised funds enjoy: Immediate Dividends: Enjoy an immediate, full charitable income-tax deduction for the amount of your gift. If you give stock or securities, your gift won't incur any capital gains taxes. Easy, Flexible and Worry-Free Giving: Write one check—that's it! Plus it's up to you, on your timetable, to decide who your donee will be and when they will receive it, whether it's a Catholic charity or not. Relief from Administrative Paperwork: Our staff handles all the necessary, day-to-day administrative duties, leaving you with the time to focus on the worthy cause. Back to top   Other charities offer donor-advised funds. Why should I set up a fund with the Catholic Communal Fund? When you give through the Catholic Communal Fund, you're establishing and furthering your emotional connection with Catholic causes and others that share your Catholic values. It is also important to keep in mind that all donor-advised funds are not the same. Depending upon the charity, there may be limits on what and how you can give, your choice of possible donees, and differences in fees that may be assessed. You can review all of this information, as it applies to the Catholic Communal Fund, here. Back to top   Do I have to give to a Catholic charity? No. With any of our funds, you as donor help decide the funds' donee(s). You can recommend a not-for-profit 501(C)(3) organization of your choice -- in the arts, health care or social services whose mission is consistent with the principles of the Catholic Church. Back to top   How can I open a fund? How long does it take? A fund can be opened in minutes. Start by reading our section entitled Open an Account, or download our donor application. Note: Minimum gift amounts vary. To speak with our Executive Director, call her at 212.588.0624. Your call will be received in total confidence. Privacy Statement Back to top   How do I make a grant from my fund? Making a grant from your fund is simple, and you can start from the moment you make your initial gift. Other things to keep in mind about grants: You can make an unlimited number of grants throughout the year. Your grants can be made anonymously, if you prefer. You can schedule a grant to made at the same time each year, or request that they be issued at a future date. Minimum grant size is $250 Start by downloading our grant recommendation form. Back to top   How does a bequest work? Start with our section Bequests & Estate Planning. For more information or to discuss if a bequest is right for you, call our Executive Director at 212.588.6024, or email her here. Privacy Statement Back to top   Are there fees associated with setting up a fund? Yes. You can view all fees, policies and procedures of donor-advised funds and the other funds we offer here. Back to top   Who manages the fund? The Catholic Communal Fund fixed income investments are professionally managed by Hudson Canyon Investment Counselors LLC. Funds allocated to equity are invested in the FMC Select Fund, a mutual fund that seeks total return principally through capital appreciation and to a limited degree through current income, and in the FMC Strategic Value Fund, a mutual fund that seeks long term capital appreciation. Both Funds are advised by First Manhattan Co. Fees, Policies & Procedures. Back to top   May I change the asset allocation of my fund? Once each calendar quarter, donors may request a change in the asset allocation of their fund. The request must be in writing. An asset allocation change form may be downloaded here. Back to top How to Open an Account For further information or to discuss if a donor-advised fund is right for you, call the Executive Director of The Catholic Communal Fund. She can be reached at 212.588.0624, or by email. The Catholic Communal Fund is not engaged in rendering legal, financial, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
	Copyright © 2006 Catholic Communal Fund of the Archdiocese of New York, Inc. 1011 First Avenue, New York, NY 10022 Inquiries: email  |  phone. 212.588.0624  |  fax. 212.753.5980 Send Me More Information  |  Download an Application