FALL 2017 VOLUME XXXI ISSUE 2 THE VISIT OUR WEBSITE : www.catholicfoundation.com Kevin Cardinal Farrell Coming Home to Dallas to Receive the 2018 Catholic Foundation Award Prefect of the newly established Dicastery for I know he will enjoy seeing his legion of Dallas Laity, Family and Life in the Vatican. friends again,” said Mike Corboy, Advisory “The Catholic Foundation Award honors Council member and recipient of the 2005 an individual or couple for distinguished service Catholic Foundation Award. “Cardinal Farrell and support to further the religious, charitable rejuvenated the Diocese in many ways while and educational needs within our Diocese. building a team of talented professionals to We are honored and humbled that Cardinal continue the momentum he established.” Farrell will accept this award in 2018, and plans Cardinal Farrell was appointed the seventh are in works for a fantastic event to convey our Bishop of the Roman Catholic Diocese of Dallas gratitude,” said Matt Kramer, president and by Pope Benedict XVI and installed at the CEO of The Catholic Foundation. Cathedral Shrine of the Virgin of Guadalupe in Cardinal Farrell will travel to Dallas for Dallas on May 1, 2007. The Catholic Foundation Award Dinner on “My favorite memory of then Bishop evin Cardinal Farrell has been named Saturday, Feb. 3, 2018, at the Hilton Anatole. Farrell was the day I first met him shortly after the 36th Catholic Foundation Award “I believe Cardinal Farrell is coming home he arrived in Dallas,” said Mike. “He showed honoree in recognition of his K to receive The Catholic Foundation Award up totally unannounced to participate in the monumental impacts and servant leadership for because of the great respect he developed for funeral mass for Sister Pauline Mullen, a the Catholic community and the entire Dallas The Catholic Foundation when he saw first- wonderful Irish nun, after reading her obituary. area during his time as Bishop of the Catholic hand the good work they were doing. Plus, Classic Bishop Farrell!” Diocese of Dallas. He is currently serving as (continued on page 4) THE PRESIDENT’S LETTER need such as these. Many generous donors recommended grants from their charitable funds at The Catholic Foundation to various different Hurricanes Harvey, Irma and Maria brutally charities supporting the urgent needs of the disaster victims. disrupted, displaced and destroyed many lives Additionally, at the September Board of Trustees meeting, the in August and September, while earthquakes Trustees recommended and approved a $100,000 emergency grant to in Mexico and wildfires in California also Catholic Charities of Dallas to help support the victims of Hurricane impacted many lives, businesses and property. Harvey. The Foundation staff also felt passionately about helping Although the winds and rains have subsided, their fellow brothers and sisters and recommended a grant from the process of rebuilding or relocating is just beginning. The Catholic Foundation Employee Fund to aid in the relief efforts. We have witnessed time and again many charitably-minded Our prayers go out to all the victims and their families, the brave Americans just like you who have come together in great times of first responders and all those involved in the rebuilding of so many lives and property. Finally, as always, we want to say thank you, to all our donors, for your continued commitment and generosity to those “ Hope is being able to see that there is light despite in need. \ all of the darkness.” –Desmond Tutu J. Matthew Kramer A Strong F OUNDATION k k business acumen in leading the first-ever Honoring a Diocesan capital campaign while revitalizing the school system with the comprehensive LEADER & FRIEND school survey are generational legacies,” said Rich. Lydia and Dan Novakov join Mary and Rich Dan and Lydia grew closer to Cardinal Templeton as co-chairs of the 2018 Catholic Farrell while working on the Our Faith… Foundation Award Dinner, which will honor Our Future Capital Campaign, which raised Presents Special Guest: Kevin Cardinal Farrell with the 36th Catholic much needed financial resources for Foundation Award on Saturday, February 3, the Diocese as a whole. Lydia said, “His Kyle Neilson, Vice President, 2018, at the Hilton Anatole Hotel. charisma, dedication and determination Evangelium Consulting Group “We are pleased to have Lydia, Dan, were in large part the reason for the success Mary and Rich lead this celebration of of this unprecedented campaign.” Cardinal Farrell and Catholic philanthropy,” Both couples shared how impressed said Cheryl Mansour, vice president of they were with Cardinal Farrell’s response development at The Catholic Foundation. to crises and needs and that his impact The Novakovs, both members of reached far beyond the Catholic community. The Catholic Foundation Advisory Council “Our proudest moment during Cardinal and Lydia a former trustee, accepted the Farrell’s tenure was his response to helping invitation to co-chair the Award Dinner the family exposed to the Ebola virus. He Committee because of their personal lives his faith, he doesn’t just preach it,” friendship with Cardinal Farrell, his strong said Mary. relationship with The Catholic Foundation Cardinal Farrell will travel to Dallas to during his time as Bishop, and the hope receive The Catholic Foundation Award. He and reconnection he brought to the local is currently serving as Prefect of the newly Catholic community. established Dicastery for Laity, Family and December 6, 2017 • 7:30am-10:15am “Rich and I were honored to be asked Life in the Vatican, making him the highest to co-chair the dinner with our good friends ranking American in the Vatican. the Novakovs. It gives us an opportunity to “We are excited with this opportunity ORGANIZATIONAL HEALTH: work together to recognize someone we both to thank Cardinal Farrell. God put him in The Missing (and Most love and admire,” said Mary, member of Dallas for a reason. He embraced us, and we Important) Ingredient The Catholic Foundation Advisory Council embraced him. His leadership united and and recipient of the 2011 Catholic guided us to play an important role in the Organizations tend to focus on the Foundation Award. spiritual and moral life of our community,” “smart” disciplines: finance, Cardinal Farrell’s contributions as said Dan. marketing, technology, strategy, and Bishop to the Diocese yielded immeasurable Visit www.catholicfoundation.com programs. But what about their results. “Cardinal Farrell was a leader who to make table and individual reservations “health?” Kyle will explain how to rallied the greater Dallas community to be for the 2018 Catholic Foundation Award become a healthy organization and proud of our faith and community. His sharp Dinner. \ overcome politics, confusion, low morale and productivity, and negative turnover – all of which undermine the effectiveness of an organization’s “smarts;” and which often receive relatively little attention. Discover simple things you can do so that your people and mission thrive. For more information please visit our website or RSVP to Mary Templeton with Mike Corboy Lydia and Dan Novakov [email protected]. 2 Giving SPIRIT Giving101 by Cheryl Unis Mansour, Vice President of Development As we approach the end of the year donors tend to think about their end-of-year charitable giving to support their favorite charities. If you are over 70 ½ you can take advantage of a simple way to benefit the charities you care about and receive tax benefits in return by making a gift from your IRA. The following article is by Dave Folz, J.D., LL.M., Trust Counselor EFFECTIVE CHARITABLE their taxable social security benefits, Medicare outright gift from one of these can avoid taxes “B” premiums, the 3.8% Medicare surtax on completely on the amount given to the charity. GIVING WITH YOUR IRA investment income, and/or reduce the loss of Other techniques such as a Charitable itemized deductions. Consult with your CPA or Remainder Trust can benefit both a charity and With federal income taxes in the United tax attorney to understand how this affects you your non-charitable beneficiaries. While these States starting at 25% for taxable income over personally. can bring substantial tax benefits, they are $37,950 for a single taxpayer (over $75,900 The check must be made payable to a complicated and should be thoroughly discussed for a married couple) and a federal estate tax public charity. Donor advised funds do not with a qualified estate planning attorney. bracket of 40%, we should make our charitable qualify. However, if the check were made out Dave Folz, J.D., LL.M., Trust Counselor giving as tax effective as we can. Imagine, to The Catholic Foundation, it could be directed LLC, www.trustcounselorllc.com. Dave was being able to give so much more or save more, to a specific cause within the Foundation. one of the earliest writers on IRAs, completing by making simple changes in the way you make The donor must get a letter from the charity his Master’s Thesis in 1982 and authoring an your annual or capital campaign gifts! indicating that the donor received no goods or AICPA course book in 1986 on the subject. What is the most tax effective lifetime charitable services in exchange for the gift. If you are considering this type of a gift call giving option? What is the most effective charitable giving your broker in the early part of December in order Individuals who are over 70 ½ have a wonderful, approach for an estate? to allow time to make the necessary transfers effective way to make gifts to charities. For those faced with estate taxes (estates and also work with the Foundation to plan what Annually a donation from their IRA, inherited greater than $5,490,000), the combined effect charity or charities you would like to support.