Texas Catholic Letters
October 1, 2008
Mr. and Mrs. John Franklin
Dallas, Texas
Dear John and Barbara,
It was nice to visit with you and I appreciated your excitement for the success The Catholic Foundation has enjoyed this year. While we are having a successful year, it is really the result of planning decisions made by donors years ago.
Your question as to how these donors planned has many different answers. Each used a different approach that fit their specific need. In one case, a couple set up a charitable remainder trust that paid them income from the trust for the rest of their lives and then the trust was given to the Foundation. In another, lifetime income was not an issue but charity was important so the donors left much of their estate to the Foundation, permanently endowed for the benefit of their specified charity. In that case they even left the Foundation their house. Another good example was a case of the Foundation being given the donor’s IRA to be placed in the unrestricted fund of the Foundation. This took the IRA out of the estate and no taxes were paid on it.
These are just a few examples of how The Catholic Foundation has been a useful tool for different individuals. They were able to plan income for themselves, save both income and estate taxes and make significant charitable gifts. These types of generosity enable the Foundation to grow and have the funds to meet many needs in our Diocese.
John and Barbara, thank you for your interest and I hope you will let The Catholic Foundation assist you in your charitable planning.
Sincerely,
Edwin M. Schaffler
President and Chief Executive Officer