Columbus Foundation, an entity of the North Dakota State Council, is a permanent fund that is IRS approved to accept contributions that are fully tax deductible. The North Dakota Knights of The Foundation was established for the purpose of providing financial assistance for religious, educational and charitable programs of the Catholic Church and the Knights of Columbus in North Dakota.
Only the income earned on investments is distributed and for a number of years, the earnings have been used primarily to support religious vocations in the form of scholarships to those in religious studies in the Bismarck and Fargo dioceses.