Advantages of the Community Foundation
Flexibility
The flexibility of the Community Foundation provides a wide spectrum of
options. A donor can name his or her own fund.
Is it your wish to support the Arts? Health Care? Education? Human
Services? The Environment? A donor can support his or her own charitable
interests through the Community Foundation.
Are you interested in one or more specific charitable organizations? Support
all of them through the Community Foundation.
Do you want to leave a lasting legacy that will meet the most pressing needs
of the people in our community now and in the future? The Community Foundation
can do this for you. Named Funds can be established for as little as $5,000.
Permanence
The large permanent charitable endowment funds of the Community Foundation
ensure its future. Thus the Foundation will oversee a donor's fund in
perpetuity, making sure that it is used exactly as intended.
Convenience
Funds may be established with a minimum of legal complexity. They also
provide a real alternative to those interested in establishing a private
foundation and may offer tax benefits and cost savings that private foundations
cannot.
Cost-Effectiveness
The generosity of individuals, private foundations and businesses have
created a permanent fund that helps underwrite a portion of the operations of
the Foundation. This keeps the Community Foundation's administrative costs very
low. In addition, because a number of charitable funds are combined, donors'
funds receive economies of scale for investment as well as administrative costs.
Tax Benefit
The Community Foundation qualifies as a public charity under federal
tax law. Gifts made during a donor's lifetime may result in important tax
advantages and bequests to the Foundation are deductible for federal estate tax
purposes. The Foundation Staff and Board are available for professional advice
on maximizing tax advantages.
Named Funds
Funds established in the names of donors or loved ones stand as personal
monuments, continuing to enrich the lives of all.
Professional Management
In addition to an experienced staff, Community Foundation assets are
invested by some of the nation's most outstanding financial management firms.
Investments are monitored closely by a separate volunteer committee, chosen for
their experience and perspective in financial management.
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See also:
Advantages of the Community Foundation
Ways to Give
Types of Funds
Establishing Scholarships
Charitable Gift Annuities
Frequently Asked Questions
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