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Catholic News Herald

Serving Christ and Connecting Catholics in Western North Carolina
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CHARLOTTE — The Diocese of Charlotte Foundation has surpassed the milestone of more than $50 million in assets.

The foundation, established in 1994, provides a means for people and organizations to provide long-term financial stability for the diocese and its more than 180 churches, schools, agencies and organizations.

Over the past 24 years, the foundation has grown to encompass 255 endowments that total $51.4 million in assets as of Feb. 27. The foundation had reached $40 million in assets just over a year ago.

An endowment is a permanent fund, the principal of which is never touched, but the income from which can be used in accordance with the wishes of the donor organization or individual. Endowments provide a way to generate income and help sustain the long-term strength and viability of the diocese and its parishes, schools, agencies and ministries.

“The endowments in the foundation range from a few thousand dollars to over $4 million. We are also finding that more and more people are establishing named endowments to honor or remember a loved one. Currently, 126 of the 255 endowments are named endowments,” said Jim Kelley, diocesan director of development.

Those who make a planned gift to the foundation, the diocese, or any of its parishes, schools, ministries or agencies become members of the Catholic Heritage Society. The society is the diocese’s way of honoring the Christian generosity of Catholic friends who are providing for the future of the Church in western North Carolina.

The Catholic Heritage Society is comprised of more than 1,100 people in the diocese, many of whom are leaving gifts to the foundation in their wills and estate plans.

The foundation sends reports out to all these endowment holders every quarter stating where their endowment stands and how much is available to distribute. As a rule, the foundation makes available 5 percent of a rolling three-year average value of its total assets. Since 1994, the foundation has distributed more than $8.5 million to the diocese and its parishes, schools and ministries.

One example of an endowment recently bequeathed to St. Benedict Church and St. Pius X Church in Greensboro was received through the generosity of Helen Doyle Black, 98, who passed away on July 27, 2016, at Pennybyrn’s Taylor Village in High Point. She left a total bequest of approximately $83,000 in her will that is going to both parishes.

Black was a parishioner of St. Pius X Church and a former parishioner of St. Benedict Church. Her gift is being split between the two parishes: approximately $68,000 will benefit St. Benedict Church and approximately $15,000 will benefit St. Pius X Church, with a portion going into endowments for each parish and a portion going directly to each parish.

“We are finding more and more people in the diocese are remembering the Church in their estates,” Kelley noted. “Many of them are establishing endowments in the foundation, where their gifts can have a lasting impact. Gifts made once in an endowment continue to give forever.”

For details about endowments or estate gifts, contact Ray Correia, diocesan director of planned giving, at 704-370-3364 or This email address is being protected from spambots. You need JavaScript enabled to view it..

– SueAnn Howell, senior reporter