Diocese of Des Moines to launch new Catholic Foundation of SW Iowa
June 20th, 2012 by Ric Hanson
Officials with the Diocese of Des Moines plan to launch a new Catholic Foundation of Southwest Iowa on July 1st, and fold its endowments into the foundation as a means of providing cost savings, better professional management and investment opportunities for supporters. In his monthly column in The Catholic Mirror, Bishop Richard Pates said “This new development, I am confident, will serve well the charitable, organizational, and fiscal structure of the Catholic community in the 23 counties of southwest Iowa.”
Anticipated benefits of having the foundation include:
• Better Professional Management. The consolidated foundations will be served by a board with expertise and strong credentials in the investment arena.
• Benefits for Supporters. A variety of options for Catholics in the Diocese of Des Moines will be available. The Endow Iowa 25 percent tax credits also will be a possibility for those who are able to take advantage of this tax consideration. Other personal opportunities such as “Donor Advised Funds” will be incorporated into the new foundation.
Initially, the Catholic Foundation of Southwest Iowa will include funds from the Diocese of Des Moines. Over time, parishes and schools may take advantages of the foundation benefits by investing endowment funds in the foundation. Each parish entity will retain ownership of funds and will be accounted as such for future parish use. The Foundation will be a vehicle to raise resources for parishes, institutions and the diocese through legacy giving and planned giving. The Community Foundation of Greater Des Moines will provide office support. The Diocese of Des Moines includes 81 parishes in 23 counties in central and southwest Iowa.