An 18 percent increase in net assets allowed the Catholic Community Foundation (CCF) in Minnesota to deliver $8.4 million in grants during the past fiscal year to Catholic parishes, schools, seminaries, ministries and causes.
The data released in the 2011 CCF annual report covers the 12 months ending June 30, 2011.
The annual report noted:
- The grant total was a seven percent increase over the previous year;
- 90 percent of the grants were made to entities in Minnesota;
- Since 1992, CCF has distributed grants totaling $89 million;
- The foundation’s long-term balanced growth fund, called the Cardinal Pool, achieved a 26 percent performance increase;
- The foundation also has $113 million in deferred gift commitments.
The Catholic Community Foundation, founded to financially support the spiritual, educational and social needs of the Catholic community, this summer will mark its 20th year. In the foundation’s work it seeks endowed funds that support the Catholic mission, helps parishes, schools and Catholic organizations manage long-term investments and distributes earnings according to community priorities and donor intent.
CCF’s philosophy includes an emphasis on investments that adhere to Catholic moral principles as established by the U.S. Conference of Catholic Bishops.