Principles in Focus: Ten Common Pitfalls of Building Your Catholic Foundation and How to Address Them

In this webinar, we highlight ten common pitfalls of building a Catholic foundation, and how to address them. This is a continuation of our previous webinar, on Strengthening and Structuring Catholic Foundations and Trusts. In this webinar, you will hear from Catholic fiduciaries and industry experts sharing practical advice on the ten most common mistakes to avoid when building a Catholic foundation, and offering best practice solutions.

00:00 – Webinar opens, Zela Astarjian, CIS Managing Director, Welcome and Introductions

08:49 – Opening Prayer, Elizabeth Tomlin, Archdiocese for the Military Services

09:17 – Paulita Pike, CIS Trustee, Beginning the conversations on pitfalls for Catholic foundations to avoid

10:33 – Pitfall #1: Not defining your mission

17:50 – Pitfall #2: Not having timely, adequate staffing

24:17 – Q: Can Catholic foundations sign agreements with a diocese so that financial management staff can safely manage while stewarding funds appropriately?

25:57 – Pitfall #3: Not setting reasonable expectations nor timelines

31:10 – Pitfall #4: Not prioritizing hires appropriately

38:50 – Pitfall #5: Lack of proper governance

40:49 – Pitfall #6: Not contemplating canonical implications

42:43 – Q: Is there a recommended amount of assets before it makes sense to start a separate foundation?

45:00 – Pitfall #7: Commingling assets with confusion of assets between a foundation and archdiocese

48:14 – Pitfall #8: Not paying attention to details

41:00 – Pitfall #9: Not understanding your investments

54:30 – Pitfall #10: Not investing wisely

59:50 – Thank you and closing