We have worked with individuals, families, businesses and other foundations, often along with their professional advisors, to establish more than one thousand funds which helped them achieve their unique philanthropic goals, realize tax benefits and maximize the impact of their charitable contributions.
A contribution to any fund at the Community Foundation is treated as a gift to a public charity. As such, these contributions receive the most favorable tax treatment under the Internal Revenue Code. Also, our funds and supporting organizations are not subject to excise taxes and minimum distribution requirements as are private foundations.
If you choose to establish a fund, you may name it after your family, business or other name that is significant to you. The name of the fund will be maintained creating a permanent legacy within the community. Funds can also be established on an anonymous basis.
You may be eligible for an immediate tax deduction when establishing a charitable fund. You can choose from a number of types of charitable funds, many of which can be established for as little as $10,000.
Fund Types Include:
- Unrestricted – Your gift ensures the Community Foundation can address the most urgent needs and most promising opportunities of our region as they evolve
- Field of Interest – Support a specific cause that you care about, such as the arts, the environment, youth, or the elderly. Such a fund could support a broad range of organizations working to address the cause you care about
- Designated – Support a specific organization or group of organizations with a permanent endowment fund
- Scholarship – Invest in students and their educational aspirations
- Donor Advised – Remain actively involved in how your gift is used to help charitable causes
To learn more about the types of funds at the Community Foundation, please refer to our detailed descriptions and answers to some frequently asked questions found by clicking here.
What Investment Strategies are Typically Used to Grow the Fund?
Investment options and fees vary by type of fund. The Community Foundation invests endowed Donor Advised Funds in its endowment pool. Donors to non-endowed Donor Advised Funds may recommend one of five investment strategies with American Funds. For more details on available investment strategies, please click here.
What are the Costs for a Fund?
Administrative fees allow the Community Foundation to carry out your gift intentions and help support the work we do in our region. These fees are an investment that help us to increase charitable giving, educate and connect donors to community needs they care about, and lead on critical community issues. Each fund type has a different administrative fee associated with it.
The standard administrative fee for matured planned gifts is one percent (1%) upon maturity. Certain planned gifts, such those established during our Touch the Future campaign or charitable gift annuities, are not subject to this fee.