The principal amount continues to grow through donations, and is never withdrawn or spent, only invested. The income earned through the investments, however, becomes an on-going source of revenue that increases as the principal in the fund grows. Just as it is important for a family to save money for things like children's education, emergencies and retirement, it is important for Catholic parishes, high schools, agencies and the Diocese itself to build reserves on which they can depend. The Diocese of Reno is fortunate to have established an endowment fund into which all endowments are placed. These endowment funds are held in the Catholic Community Foundation of the Diocese of Reno.
Financial professionals manage the fund.
It combines the endowments of individual parishes, agencies, the high school and the diocese itself in order to maximize investment returns and reduce overhead costs. The Foundations' assets are segregated from all other assets of the diocese and are used only for donors' specific intentions. The substantial value of the individual accounts allows the endowment funds to be invested efficiently and economically. The foundation has a diversified portfolio that is conservative in nature. The fund is professionally managed by several different fund managers.