Independent Catholic Foundation

What Independent Catholic Foundation does

The Independent Catholic Foundation (ICF) is a self-governing, lay-led 501(c)(3) public charity founded in 1990 and headquartered in Altoona, Pennsylvania. The foundation administers approximately 300 permanent endowments with combined assets under management of roughly $47 million (as of February 2026), serving Catholic parishes, K-12 schools, cemeteries, seminarian programs, and diocesan ministries primarily within the Diocese of Altoona-Johnstown across six central Pennsylvania counties. Its core products include permanent endowments (minimum $10,000, payable over three years), donor-advised funds (minimum $25,000, launched in 2025), the Impact Grants Program ($51,247 awarded across 29 grants in the 2026-27 cycle), and the Welge Scholarship Endowment.

The foundation operates a 60/40 equity/fixed-income portfolio managed by Christian Brothers Investment Services, with custody at Bank of New York Mellon and investment consulting from Cornerstone Advisors; the entire portfolio is screened against US Conference of Catholic Bishops social investing guidelines covering human life, human dignity, arms production, economic justice, environmental stewardship, and corporate responsibility. A digital endowment catalog on icf.fcsuite.com provides donor self-service across 280+ funds. The foundation has earned Charity Navigator's 4-star rating for 12 consecutive years and holds the GuideStar Gold Seal of transparency.

The business model is anchored by a 1% annual administrative fee applied quarterly at 25 basis points on endowment market values, plus $35 per-check processing fees on pass-through charitable contributions. Go-to-market combines direct donor engagement (legacy giving conversations, Fund Advisor Portal), parish outreach programs, a Professional Advisors Society referral network for attorneys and financial planners, and annual events including the Catholic Investing Summit and 35th Anniversary Gala. Operations are supported by a small team — CEO Chris Ringkamp, Finance Director Annette Wholaver, and Charitable Gift Advisor Mary Jo Ludwig — with governance provided by volunteer lay trustees independent of any diocese.

Name

Independent Catholic Foundation

Legal name

Independent Catholic Foundation

Website

https://independentcatholicfoundation.org

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

1–10 employees

Short description

The Independent Catholic Foundation is a 501(c)(3) public charity that administers approximately 300 Catholic-aligned permanent endowments and donor-advised funds totaling roughly $47 million in assets for parishes, schools, cemeteries, and ministries across the Diocese of Altoona-Johnstown in central Pennsylvania.

Ownership category

akta.pro rank

Product category

Community Foundation Endowment Administration

NAICS

Grantmaking Foundations (813211), Grantmaking and Giving Services (81321)

akta.pro primary industry

Community Foundations (BPAGAKAB)

akta.pro secondary industries

Endowments (Universities, Foundations, Nonprofits) (FSAAAGAC), Private Foundations (BPAGAKAA), Education Grantmaking Foundations (BPAGAKAK), Philanthropic & Charitable Trust Services (FSAAANAI)

Keywords

• Catholic endowment management
• Donor-advised funds
• Charitable giving services
• Permanent endowment funds
• Faith-based investing

Headquarters

HQ city

Altoona

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Endowment Administration Fees: Annual administrative fee of 1% applied quarterly at 25 basis points (0.25%) on endowment market values. Fee covers investment management, record-keeping, and grant distribution services.
2. Pass-Through Contribution Processing: Processing fee of $35 per check issued when individuals contribute to other charities through ICF confidentially. Donors receive charitable gift receipt while maintaining anonymity.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

The Independent Catholic Foundation administers approximately 300 permanent endowments valued at roughly $47 million for Catholic parishes, schools, cemeteries, ministries, and individual donors across Central Pennsylvania. Its core services include creating named permanent endowments, donor-advised fund administration, an Impact Grants matching program, and college scholarship endowments, all invested through a 60/40 equity/fixed-income portfolio screened against US Conference of Catholic Bishops socially responsible investment guidelines.

Product overview

The Independent Catholic Foundation operates as a single unified nonprofit service offering centered on Catholic endowment administration. Its core portfolio includes Permanent Endowments (perpetual funds for parishes, schools, cemeteries, and ministries), Donor-Advised Funds (charitable giving accounts), the Impact Grants Program (matching grants for faith-based initiatives), and the Welge Scholarship program. An Online Endowment Catalog provides digital access to 280+ endowment funds. The organization does not offer a software product or platform with modules; rather, it delivers services directly through its staff and partner institutions (Bank of New York Mellon for custody, Christian Brothers Investment Services for portfolio management, and Cornerstone Advisors for consulting).

Differentiator

Problem solved

Functional benefit

Products and services

• Permanent Endowments Perpetual endowment funds that provide long-term financial support to Catholic parishes, schools, cemeteries, ministries, and causes. Principal is never spent; only a percentage of annual investment income is distributed to designated beneficiaries.
• Donor-Advised Funds (DAF) Charitable giving accounts that allow donors to receive an immediate tax deduction for contributions and recommend grants to charitable causes over time through a secure online portal. Minimum $25,000 to establish.
• Impact Grants Program Matching grant program providing funding for student retreats, parish missions, adult catechesis, youth ministry, and leadership training initiatives for Catholic parishes and schools.
• Online Endowment Catalog Web-based catalog featuring 280+ endowment funds organized by category including parishes, schools, cemetery care, scholarships, and ministries, with shopping cart functionality for contributions.
• Welge Scholarship Endowment Fund College scholarship program providing $500 awards to junior and senior college students who are members of Blair County Catholic parishes and demonstrate financial need.

Quantifiable outcome

• $13 million cumulative distributions over 30 years
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Cornerstone Advisors Asset ManagementminorGTM or Marketing Partner · 1 April 2024Premier corporate sponsor of Catholic Investing Summit event
• Consortium of Catholic FoundationscoreStrategic or Co-development Partner · 1 July 2022Peer community of Catholic foundation chief executives for accelerating leadership effectiveness and mission impact; ICF is a Founding Member
• Bank of New York MelloncoreTechnology or IntegrationCustodian for endowment assets held by Independent Catholic Foundation
• Christian Brothers Investment ServicescoreTechnology or IntegrationPortfolio manager for ICF endowment investments, managing 60/40 equity/fixed-income allocation aligned with Catholic values
• Cornerstone Advisors Asset ManagementcoreTechnology or IntegrationInvestment consultant providing guidance to Finance & Investment Committee on portfolio performance and Catholic investing standards

Scale indicators12 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• National Catholic Community Foundation: National platform providing planned giving, endowment, and DAF services to Catholic donors, parishes, schools, and ministries across the U.S. Directly comparable to ICF's mission and product set, though operating at significantly larger scale with a national rather than diocesan footprint.
• The Catholic Foundation (Dallas): Catholic-focused community foundation serving the Diocese of Dallas, providing permanent endowments, donor-advised funds, and charitable gift planning. Comparable to ICF in mission and core products, with significantly larger AUM.
• The Catholic Foundation of Greater Philadelphia: Catholic community foundation administering endowments and donor-advised funds for parishes, schools, and ministries in the Archdiocese of Philadelphia. Closely comparable mission and product mix to ICF, with larger AUM and urban diocese context.
• The Catholic Foundation of Greater St. Louis: Catholic community foundation providing endowment, planned giving, and donor-advised fund services to parishes, schools, and ministries in the Archdiocese of St. Louis. Mirrors ICF's operating model and primary customer segments at meaningfully larger scale.
• Catholic Community Foundation of Minnesota: Diocesan-level Catholic community foundation offering permanent endowments, donor-advised funds, and scholarship programs for parishes, schools, and Catholic causes in the Archdiocese of St. Paul and Minneapolis. Closely mirrors ICF's structure, product mix, and diocesan scope.
• Catholic Foundation of South Louisiana: Catholic community foundation administering endowments, donor-advised funds, and charitable gift annuities for Catholic causes across the Diocese of Baton Rouge and Lafayette. Closely comparable in mission, geography type, and product portfolio to ICF.

Broad incumbents

• Schwab Charitable Fund: One of the largest national donor-advised fund sponsors with tens of billions in assets, offering low-friction online DAF establishment. Competes with ICF's DAF product on scale, brand, and minimum thresholds, though it does not offer faith-aligned investing screening.
• Fidelity Charitable Gift Fund: The largest U.S. donor-advised fund sponsor with multi-billion-dollar AUM and a national brand. Competes with ICF for planned-giving donors across geographies but lacks Catholic-values-aligned investing and diocesan grassroots distribution.
• Our Sunday Visitor (OSV) Foundation: Catholic publishing and philanthropy organization providing planned giving resources, donor tools, and charitable gift planning services to Catholic donors nationally. Comparable in serving Catholic planned-giving intent, though broader in scope than ICF's endowment administration focus.

Regional players

• Community Foundation for the Alleghenies: Secular community foundation serving Bedford, Cambria, Somerset, and surrounding Pennsylvania counties with overlapping geography to ICF. Comparable as a community foundation competitor for endowment and DAF business but lacks the Catholic-values-aligned investment positioning.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/IndependentCatholicFoundation
• LinkedInlinkedin.com/company/independent-catholic-foundation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Independent Catholic Foundation