The Catholic Foundation of the Diocese of St. Augustine Launches Donor-Advised Fund Powered by Knights of Columbus Charitable Fund

NEW HAVEN, Conn., Oct. 26, 2020 /PRNewswire/ -- Knights of Columbus Charitable Fund (KCCF) recently announced that it has launched a donor-advised fund with the Diocese of St. Augustine in Jacksonville, Florida. Knights of Columbus Charitable Fund is an independent nonprofit public charity sponsoring a donor-advised fund program, which inspires Catholics' generosity and empowers Catholic organizations to maximize their philanthropic impact on the world.

Dennis Gerber, president and chief executive officer of KCCF, noted, "The partnership between KCCF and the Catholic Foundation is a unique opportunity for the Catholic community in the Diocese of St. Augustine to utilize the latest technology in charitable giving to donate to the organizations that matter most to them."

"The Catholic Foundation is excited to partner with KCCF in offering a Catholic option for donor-advised funds (DAFs). This simple and flexible giving tool is a hands-on opportunity for individuals and families to get involved in philanthropy – supporting the causes they care most about," added Patty DiSandro, Executive Director of the Catholic Foundation of the Diocese of St. Augustine.

DAFs allow individuals and families to donate now, potentially receive an immediate tax benefit, and recommend grants later, at any time, to a qualified charity. Meanwhile, contributions to DAFs grow tax-free. DAFs are relatively low-cost and easy to set up, and they offer a level of confidentiality that individuals and families may not have with a private foundation.

Today, DAFs are among the fastest-growing segments of philanthropy, ahead of private foundations, trusts, annuities, pooled income funds, and have outnumbered private foundations for several yearsⁱ. DAFs make it easy for individuals and families to donate assets that might otherwise not be contributed to charity, and they also make it easy for donors to distribute funds thoughtfully and impactfully to charities.

More information from KCCF can be found here: www.knightscharitable.org

Further Information:

About Knights of Columbus Charitable Fund

Knights of Columbus Charitable Fund is an independent 501(c)(3) public charity. It allows individuals to make a charitable contribution, receive an immediate potential tax benefit and then recommend grants from the fund over time to any 501(c)(3) charities that do not conflict with Catholic values. Various entities affiliated with Knights of Columbus provide certain investment management and administrative services to Knights of Columbus Charitable Fund.  Knights of Columbus Asset Advisors serves as the investment manager of Knights of Columbus Charitable Fund, and the assets are invested in investment funds managed by Knights of Columbus Asset Advisors. 

Knights of Columbus Charitable Fund furnishes the opportunity to create a legacy of generosity by personalizing the name of a fund, safeguarding philanthropic goals and strategically advising gifts to organizations that align with Catholic values, principles and teachings.

Investing involves risk.   The value of a donation to a donor-advised fund will fluctuate over time and may gain or lose money, which will affect total benefits ultimately received by charities. 

Information provided is educational in nature and is not intended as legal, tax, financial or other professional advice.  Knights of Columbus Charitable Fund does not provide legal, tax, financial or other professional advice.  You should consult professional advisors concerning the legal, tax or financial consequences of your charitable activities.  Tax information provided relates to federal tax matters only and availability of certain federal tax deductions may depend on whether you itemize deductions. For more information, please visit: www.knightscharitable.org

You should consider the investment objectives, risks and charges and expenses of the donor-advised funds carefully before investing. Nothing presented herein is intended to constitute investment advice and no investment decision should be made based on any information provided herein.  Nothing presented herein should be construed as a recommendation to purchase or sell a particular type of security or follow any investment technique or strategy. No guarantee of investment performance is being provided and no inference to the contrary should be made. For more information, please visit: www.kofcassetadvisors.org 

State Disclosures:

• Colorado: Colorado residents may obtain copies of registration and financial documents from the office of the Secretary of State, 303-894-2860, www.sos.state.co.us/ registration number pending
• Florida: A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE 1-800-HELP-FLA. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. REGISTRATION # PENDING
• Maryland: For the cost of postage and copying, documents and information filed under the Maryland charitable organizations laws can be obtained from the Secretary of State, Charitable Division, State House, Annapolis, MD 21401, 800-825-4510."
• Mississippi: The official registration and financial information of Knights of Columbus Charitable Fund may be obtained from the Mississippi Secretary of State's office by calling 1-888-236-6167. Registration by the Secretary of State does not imply endorsement by the Secretary of State
• New Jersey: INFORMATION FILED WITH THE ATTORNEY GENERAL CONCERNING THIS CHARITABLE SOLICITATION AND THE PERCENTAGE OF CONTRIBUTIONS RECEIVED BY THE CHARITY DURING THE LAST REPORTING PERIOD THAT WERE DEDICATED TO THE CHARITABLE PURPOSE MAY BE OBTAINED FROM THE ATTORNEY GENERAL OF THE STATE OF NEW JERSEY BY CALLING 973-504-6215 AND IS AVAILABLE ON THE INTERNET AT http://www.state.nj.us/lps/ca/charfrm.htm. REGISTRATION WITH THE ATTORNEY GENERAL DOES NOT IMPLY ENDORSEMENT
• New York: Upon request, a copy of the latest annual report can be obtained from the organization or from the Office of the Attorney General, by writing the Charities Bureau, 120 Broadway, New York, NY 10271.
• North Carolina: Financial information about this organization and a copy of its license are available from the State Solicitation Licensing Branch at 1-888-830-4989. The license is not an endorsement by the State.
• Pennsylvania: The official registration and financial information of Knights of Columbus Charitable Fund may be obtained from the Pennsylvania Department of State by calling toll free, within Pennsylvania, 1 (800) 732-0999. Registration does not imply endorsement.
• Virginia: Financial statements are available from the State Division of Consumer Affairs, Department of Agricultural and Consumer Services, P.O. Box 1163, Richmond, VA 23218.
• Washington: The notice of solicitation required by the State Office of Consumer Affairs is on file with the Washington Secretary of State, and information relating to financial affairs is available from the Secretary of State, and the toll-free number for Washington residents: 800-332-4483
• West Virginia: West Virginia residents may obtain a summary of the registration and financial documents from the Secretary of State, State Capitol, Charleston, West Virginia 25305. Registration does not imply endorsement.

About the Catholic Foundation of the Diocese of St. Augustine

The Catholic Foundation of the Diocese of St. Augustine was created in 1987 to provide a permanent endowment to meet the religious, charitable, and educational needs of Catholics in the 17-county area of the diocese.

The foundation assists in meeting the long-term needs of the diocese, including funds for expanding existing parishes, establishing new parishes, expanding or establishing centers for religious education and social service programs, expanding or establishing schools, providing an adequate retirement for priests and women religious in the diocese, providing support for the formation of candidates for the priesthood and programs for youth and young adult ministries.

Nearly all parishes, schools and many other ministries in the Diocese of St. Augustine have established permanent restricted funds.

The Diocese of St. Augustine, established in 1870, encompasses 17 counties of northeast and north central Florida. The diocese serves more than 150,000 registered Catholics in 67 parishes and missions, and 40 Catholic schools and early learning education centers.

More information about the Catholic Foundation can be found here: cf.dosafl.com.

ⁱ Source: National Philanthropic Trust, 2018 DAF Report

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SOURCE Knights of Columbus Charitable Fund (KCCF)

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