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Thirty-five years ago, a group of local Catholic leaders saw a need to provide an alternative source of funding for ministries within the diocese. From that desire, the Independent Catholic Foundation was established on June 13, 1990.
Today, the foundation plays a huge role in the community -- a wide range of support, from schools and cemeteries to seminarians and retired priests. All funds come from endowments, many created in memory of loved ones, and grown through charitable donations.
"The foundation has endowments to help Catholic priests in their retirement years, for the care and maintenance of cemeteries, help in parish building maintenance and pretty much anything Catholic in the diocese," said Thomas McAneny, board chairman.
"Many of these organizations would struggle to survive without the help of ICF," trustee Bill T. Ward said.
Many parishes have perpetual care endowments. For example, Prince of Peace in Northern Cambria created a cemetery endowment in 2018. "Its current market value is $337,000; of that, we received $294,000 in donations," Ringkamp said.
Aligned with Catholic teachings
The nonprofit public charity is governed by a lay board of 12 trustees and partners with families and professional advisors to create legacy funds that benefit parishes, schools, cemeteries, ministries and other cherished Catholic causes. That is achieved by stewarding donor-advised funds and family endowments in an investment portfolio aligned with the ethical, moral and social teachings of the Catholic Church.
When established, it was important that the foundation be a separate legal entity from the diocese. It was seen as a way for people to share their faith through donations that would support Catholic ministries, such as education, an initial focus of the foundation.
"The Independent Catholic Foundation has been a steady source of hope and opportunity in our community -- funding scholarships, strengthening parishes, and supporting outreach programs that serve those most in need," said P. Joseph Lehman, a member of the board of trustees.
"We provide funding and long-term benefits to Catholic organizations locally and nationally," said Christopher Ringkamp, president/CEO since 2019.
Ringkamp said the funding outlay depends on the wishes of the individuals who entrusted the foundation with their contributions.
There are 285 existing endowments today with another five expected to be approved in September, he said.
Mission grows
As the foundation mission grew, educational endowments continued to thrive, but so did new endowments for such entities as Catholic Charities, Sisters of Mercy and the St. Vincent de Paul Society, to name a few.
The Knights of Columbus Councils throughout the diocese established an endowment to support diocesan seminarians, while many individuals created endowed scholarships for the benefit of students enrolled in kindergarten through their university years.
Many charitable donations "come in memory or honor of a loved one," Ringkamp said. "Anyone can create their own endowment for as little as $10,000."
Each endowment has a charitable designation and the foundation is required to release funds every year, he said.
In 1991, the foundation had total assets of $337,006. As of June 30, 2025, the foundation had total assets of $44.2 million.
"Since 2002, we have had $28.6 million in contributions, $26.3 million in distributions, $10.5 million in income and $22.3 million in changes in market value," Ringkamp said.
The core of ICF's mission continues to focus on receiving and growing permanent endowments for the purpose of providing long-range revenue streams for local parishes, schools, ministries and cemeteries. A percentage of the investment gains -- as determined annually by foundation trustees -- will benefit specific Catholic causes defined by each respective endowment agreement in perpetuity.
Tuition assistance
"Over the years, we've helped students pursue education, assisted parishes in fulfilling their missions and backed initiatives that enrich lives spiritually, educationally and socially," Lehman said.
Last year, scholarship funding was $1 million. Combined over the last five years, scholarship funding was $4 million, he said, noting 168 students in kindergarten through college were assisted last year. Over the last five years, 688 students in kindergarten through college benefited from the endowments entrusted to the foundation.
"The tuition assistance that the endowments have provided to the families of students attending Catholic schools in the diocese has had life changing effects," McAneny said.
"Students have received a faith-based education that has enabled them to pursue their lifelong dreams and to become good citizens of society. Many of these students are now beginning to give back in the form of creating endowments of their own to help future students," he said.
Bishop McCort Catholic Academy in Johnstown has received more endowment dollars than any other educational institution.
"Over the years, the Independent Catholic Foundation has been a cornerstone of support for Bishop McCort, helping to sustain its mission, strengthen its programs and ensure that future generations of students can grow in faith, academics and service," said Thomas A. Smith, chief administrative officer.
"The ICF's success comes from a clear mission, responsible stewardship of donor gifts and the deep trust it has built over decades," Lehman said.
The foundation's board sees a future filled with continued growth.
"By engaging the next generation of donors, expanding our partnerships and focusing on sustainable endowments, we will continue to strengthen the Catholic community across our region for decades to come," Lehman said.
"We have had some really good men and women over the past 35 years who have shown us how to manage the foundation. It is our job to keep pushing the foundation to grow and we do that by making our story known throughout the Diocese. We believe that there are many people who want to help but just need some guidance getting started. I believe that we can triple the amount of assets that we manage in the next 35 years," McAneny said.
Mirror Staff Writer Walt Frank is at 814-946-7467.