Frequently Asked Questions
Please contact us if your question is not answered.
No. While the Catholic Foundation of Southeastern Massachusetts exists to sustain the parishes, schools and ministries of the Diocese of Fall River, the Foundation is a separate 501(c)(3), completely independent from the Diocese of Fall River. The Foundation’s governance is by a Board of Trustees, and the structure allows for independent operating and investment decision-making as well as the protection of assets.
The annual Catholic Appeal is just that, an annual appeal. The money collected by the Catholic Appeal each year is distributed to the parishes, schools and ministries of the Diocese of Fall River to support them, one year at a time. The Catholic Appeal is run and managed by The Catholic Foundation of Southeastern Massachusetts.
In contrast, the Catholic Foundation of Southeastern Massachusetts provides perpetual support to the parishes, schools and ministries of the Diocese of Fall River through restricted and endowment funds as well as other fundraising initiatives.
Your gifts to endowment funds at the Foundation will provide long-term funding to the parishes, schools and ministries of your choice. We do not discourage donors from making gifts directly to Catholic organizations, but rather, provide an alternative for those who wish for their gifts to have a longer-lasting impact.
The Catholic Foundation of Southeastern Massachusetts’ mission is to sustain the local Church for future generations; therefore, we welcome the establishment of Donor-Designated Endowment Funds and Donor-Advised Funds that benefit the Catholic parishes, schools and ministries of the Diocese of Fall River.
A portion of a fund’s beneficiaries may be non-Catholic organizations and/or organizations located outside the Diocese of Fall River, as long as those organizations operate according to the teachings of the Catholic Church.
While tax benefits are not the primary reason most donors choose to work with the Foundation, our assistance in helping you understand the tax benefits of various funds is invaluable. Many donors find that they are able to contribute more than they had initially planned once they realize the tax benefits.
Giving Cash: You may deduct the full amount of your gift in the gifting year to offset up to 50% of your adjusted gross income (AGI). If your total giving in a single year exceeds 50% of your AGI, you can carry any excess deduction forward for an additional five-year period after the year of contribution.
Giving Appreciated Securities: Gifts of long-term appreciated securities, or stock, (i.e., securities that you have owned for more than one year) are deductible for the full fair market value on the date of the gift. You do not pay capital gains taxes on the appreciated portion of your gift.
With a gift of securities, you may deduct the full amount of your gift in the gifting year to offset up to 30% of your AGI. If your gift exceeds 30% of your AGI, you can carry any excess deduction forward and deduct up to the 30% limit in the five-year period after the year of contribution.
The Catholic Foundation of Southeastern Massachusetts cannot serve as your tax, legal, or financial advisor, but we can speak knowledgeably with you and your advisors and provide the documentation you need to take advantage of the tax benefits of charitable giving.