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Catholic Peoples Foundation FAQ's

What is Catholic Peoples Foundation, and why does it exist?
The Catholic Peoples Foundation is a non-profit, tax-exempt 501(c) 3 organization, founded in 1998 by Bishop Donald E. Pelotte. The Foundation exists to assist individuals who wish to provide lasting financial support to religious, educational, and charitable organizations that serve the faithful in the Diocese of Gallup.

How does Catholic Peoples Foundation serve the Diocese of Gallup?
The Foundation makes distributions and grants from restricted and unrestricted funds as designated by donors and the needs of the Diocese of Gallup. The Catholic Peoples Foundation Board of Trustees ensures that all gifts go to work right here in the Diocese of Gallup. All restricted gifts are handled with the highest ethical standards, and are only used for their designated purpose.

Who governs the Catholic Peoples Foundation?
The Board of Trustees of the Catholic Peoples Foundation governs all operations and actions by the foundation. The board meets five times yearly. Its committees are working committees that meet on a regular basis to conduct the business of the foundation. Our trustees consist of Catholics from all walks of life and reflect the diverse experience and population of our diocese.

What are the benefits of working with Catholic Peoples Foundation on your charitable gifting?
The convenience of handling your charitable giving to numerous Catholic charities from one source is one benefit you can gain from working with CPF. Foundation staff is also up-to-date on tax advantages that might be available to you, as-well-as other financial/gifting advice. In the future, we hope to introduce gifting options that could increase your fixed income through charitable estate gifting using charitable annuities and possible wealth replacement to your heirs through charitable gifts held in trust. In short, Catholic Peoples Foundation is an ideal place to grow your philanthropic desires.

Why should I consider an endowment rather than an outright gift?
Many people believe that endowments are only for very wealthy people and big institutions like universities. In fact, an endowment is for anyone who wishes to support their favorite charities perpetually. With an endowment, your gift stays permanently invested, while an annual distribution or grant from its income is made to support the charities you designate. This type of gift could supply much needed resources for your parish, school, or charity.

How do I make a gift to Catholic Peoples Foundation?
Refer to our make a donation page on this site to explore many gifting options and vehicles to match your philanthropic desires.

Is there a minimum dollar amount required to make an endowment contribution?
No. Most endowments are opened with $5,000 or more, but Catholic Peoples Foundation is here to be of assistance to anyone who needs help in fulfilling their charitable intentions, regardless of the size. And there are many established endowments that need your financial support.

Is my gift to Catholic Peoples Foundation tax deductible?
The gift is tax deductible during the year in which your gift is given. It is an irrevocable gift given to Catholic Peoples Foundation, Inc. The tax deductibility of contributions may be limited to percentages of your adjusted gross income. Therefore, it is strongly recommended that you consult your tax advisor for specific information.

Am I able to choose which Catholic School, Mission, Charity, or Parish, I would like my gift to benefit?
Absolutely! Designated giving is always welcome and encouraged. Some people choose not to make a designation. In this case, their gift benefits the Church and Catholic Community as a whole; providing resources for particular parishes, projects and causes that might not otherwise receive funding.

Can the Diocese ever claim funds from the endowment, all or in part?
No. As a legally established investment contract, the endowment can never be closed or used in any way other than specified when the endowment was established. Most endowments are written with a built-in safety net, which ensures a clear direction of the restricted monies if the designated charity ceases to exist.

Do I have to be Catholic to have a relationship with The Catholic Peoples Foundation?
No. The Catholic Peoples Foundation welcomes participation from anybody who has an interest in helping support the work of the Church and wants assistance in fulfilling their charitable intentions.

Can I include other organizations besides The Catholic Peoples Foundation in my arrangements?
Yes. Benefactors are encouraged to consider the needs of the many Catholic organizations (schools, parishes, missions, social service agencies, and projects) and have the options of designating multiple charitable beneficiaries. It’s one of the many ways The Catholic Peoples Foundation can help make your generosity toward others more pleasant and convenient, leaving you more time to enjoy the act of giving.

Do I need my own lawyer or financial professional?
It’s Important that donors feel completely comfortable in their relationship with the Catholic Peoples Foundation. Many of our benefactors get considerable peace of mind in using their own lawyer, CPA, Certified Financial Planner, or life insurance professional to review arrangements and, in some cases, prepare the appropriate documentation. Of course, the foundation also works with top professionals in the legal, accounting, and financial planning fields to completely meet the charitable needs of our benefactors.

Can I use The Catholic Peoples Foundation to recommend gifts to benefit non-Catholic organizations or entities outside the Gallup Diocese?
No. It is important to remember that the Catholic Peoples Foundation may not be associated with any organization whose practices are in conflict with the tenants of the Catholic faith or the mission of the Catholic Peoples Foundation. If you have a specific question regarding the feasibility of a proposed gift, please contact us.

Can the recipient ever close the endowment and use the entire funds for a current need?
No. As a legally established investment contract, the endowment can never be closed and used in a way not set out in its establishment contract.

Who keeps track of the investments and donations?
The Catholic Peoples Foundation administrators, the finance committee, and the CPF Board of Trustees oversee this investment and donation process for the foundation. Our complete records are audited annually by an independent accounting firm that specializes in non-profit accounting.

How do I make a gift to The Catholic Peoples Foundation?
You can choose to work with our professional staff in designing a gift which will suit your personal needs and charitable goals. Gifts made with cash, check, or by credit card can be made online or through the mail. Donation forms can be obtained online or by contacting the Catholic Peoples Foundation directly at 505.726.8295. Stock gifts or other special giving should be made after first contacting CPF staff.