Charitable Gift Funds
Individuals, families, corporations, nonprofit organizations, trusts and estates are eligible to open Gift Funds.
Naming Your Gift Fund
You may name your Gift Fund for your family or other loved ones. If you would like for your Gift Fund to remain anonymous, you may name your Fund accordingly.
Types Of Assets
You may contribute any of the following assets to open a Gift Fund:
Publicly Traded Securities
Mutual Fund Shares
Tangible Personal Property
Life Insurance Policies
Retirement Assets (IRAs, retirement plans, etc.)
Business Interests (non-publicly traded or closely held stock, partnership interests, etc.)
Gift acceptance is subject to Board approval and must meet criteria as outlined in Assets Accepted and Tax Considerations.
Ordinarily, contributions $250 and above will be acknowledged promptly in writing. An itemized tax receipt will be issued for all donations with a tax-deductible component.
For contributions of private securities, business interests, real property and other assets valued at more than $5,000, the acknowledgement will be sent after the Foundation has received a copy of an independent, qualified appraisal of the asset.
Grant Distributions Within The United States
The Foundation makes grants to any qualified, public 501(c)(3) charity in any geographic region in the United States. In addition, the Foundation allows distributions to international organizations through qualified domestic 501(c)(3) affiliates.
Gifts Are Irrevocable
In order to meet IRS guidelines, your contribution becomes irrevocable once it is accepted. It is owned and held under the direction of the Foundation's Board. Contributions to the Foundation are not refundable.
Variance power is a distinctive feature of community foundations. The IRS requires that the Foundation have absolute discretion over all Gift Funds in order to provide maximum tax benefits to you. However, the Foundation will carefully consider your recommendations regarding preferences and distributions.
Providing Information On Your Referral Sources
The Foundation regularly works with Professional and Financial Advisors to assist donors in the philanthropic process.
To provide the best service possible to your Advisors, the Foundation asks you to share their contact information on your Gift Fund Agreement.
You may wish to remain anonymous with regard to some or all of your distributions. The Foundation offers three degrees of anonymity:
Indicate total anonymity on your Charitable Gift Fund Agreement Distributions made from your Gift Fund, no matter what you name it, will be anonymous.
Give your Gift Fund an anonymous name (e.g., ABC Fund) Distributions will be made in the name of your Gift Fund without reference to you.
Designate your distribution as anonymous on the Distribution Recommendation Form The Foundation staff will mark that specific distribution as anonymous when the distribution check is processed.
For complete policies on establishing a Charitable Gift Fund, refer to the Charitable Giving Guide.