When Father Rick Rodoni celebrated his 25th anniversary of ordained ministry, parishioners and friends wanted to mark the occasion in a special way. They turned to the Catholic Community Foundation and set up the Reverend Rick Rodoni Charitable Fund.
This is a Donor Advised Fund, managed by the Catholic Community Foundation. Here’s how it works:
– The fund is set up (usually by an individual or couple) with the Foundation.
– All donations to the fund are fully tax deductible.
– The Donor Advisor, in this case Father Rick, may advise grants from the fund to charities that inspire him, throughout his lifetime.
– The fund grows tax-free.
– While the foundation encourages donor advisors to give to Catholic ministry in Santa Clara Valley, this is not a requirement.
– All grants must be to organizations whose values are in line with Catholic social teaching.
There are many occasions that could be appropriately celebrated with the “Gifted Donor Advised Fund:”
– A pastor or principal retirement
– A milestone birthday
– A wedding
This beautiful gift allows a group of people to recognize an important occasion, receive a tax deduction, and fuel the philanthropy of someone they value.
Donor Advised funds are also appropriate for one-time gains, appreciated stock, after the sale of a home, etc. Through this vehicle, an individual may receive a large tax deduction, and have many years to strategically advise grants from the fund.
In thanksgiving for the ministry of Father Rick, more than 60 individuals and families contributed to his fund.