Donor FAQs

By having a fund at the Community Foundation, your values will continue to have a presence in your community for generations to come. Partnering with the Foundation will give you the benefits of flexibility and efficiency in your charitable giving. Because the Foundation’s legal status as a public charity is already in place, a fund can be established and the maximum tax advantages secured in a short amount of time.

The Community Foundation provides the IRS reporting, fund accounting, investment management, and financial accountability for funds. The Community Foundation assures that all grant and scholarship recipients meet the IRS criteria for tax-exempt status and that the monies granted are used for the intended purpose. Where appropriate, the Community Foundation advises potential grant recipients of the donor’s intent to request proposals or fund certain categories of interest. Donors receive quarterly fund statements and are kept informed of special community needs, grant opportunities, and high quality organizations. Fundholders can also access and manage their fund 24/7 through our online Donor Portal.

The Foundation offers a number of important financial benefits through charitable giving. Because we manage many funds, administrative costs and service fees for your fund are minimized. Gifts to the Foundation receive the maximum tax advantage allowed by law.

Starting a fund is simple and can easily be done in a day. You can set up an unrestricted fund to help meet a variety of needs within the community, or specify a purpose or area of concern to support with a field of interest fund. Some donors choose a designated fund which identifies a single charitable organization to support. Others opt for a donor advised fund, which allows active involvement in recommending grants. You also may name the fund you create – for yourself, a spouse, family members, a company, or a friend.

There is no cost to establish a fund at the Community Foundation. The Foundation will handle your fund’s grant administration, tax reporting, and record keeping for a low annual administrative fee of 1%. This ensures that more of your charitable dollars go to the projects and issues close to your heart.

We accept cash, publicly-traded and privately held securities, immovable property, and other assets, such as artwork. These may be given as a bequest or during the donor’s lifetime.

Yes. The Community Foundation respects the donor’s privacy if he or she does not wish to be recognized.

The Community Foundation Board of Directors, with the advice of an outside investment consultant, selects investment managers and monitors their performance in the Foundation’s Investment Pool. If you have a relationship with an investment advisor, he or she can possibly serve as the manager for funds over $250,000.

Yes. Our professional staff is knowledgeable about area organizations and programs and the critical needs in our community. We are here to help you achieve your vision of a brighter community.