Frequently Asked Questions (Becoming a Donor)

Why should I establish a fund at  the Community Foundation?
Establishing a fund at the Community Foundation provides an easy, effective, and enjoyable way to achieve your philanthropic goals.

• The Community Foundation is a local organization with extensive experience dealing with local issues and needs.
• The Foundation's professional staff is a valuable resource for establishing funds, making grants, and assisting non-profit organizations in ways that maximize the benefits to our community. 
• We provide highly personalized service tailored to each individual’s charitable and financial interests.

How do I establish a fund?
It is easy to establish a fund at the Community Foundation.  Simply decide which type of fund best meets your interests and needs, determine your charitable priorities, select a name for the fund, and make an establishing gift.  The Community Foundation can typically prepare and complete the written Fund Agreement in less than 1 hour.

What type of fund should I establish?
The Community Foundation has several types of funds available to help you accomplish your charitable goals.  Staff members are available to discuss these options with you and help you select one or more that may suit your philanthropic needs. Funds offered by the Foundation include: 

• Donor Advised Funds
• Agency Funds
• Designated Agency Funds
• Donor Designated Funds
• Field of Interest Funds
• Scholarship Funds
• Charitable Remainder Trusts
• Charitable Gift Annuity Funds
• Unrestricted Funds

How much do I need to establish a fund?
All funds must be established with a minimum $10,000 gift. There is no maximum limit, and no set-up fee. 

Does the Community Foundation charge an annual fee to maintain the fund?
Each fund at the Foundation shares in the total administrative costs of the Foundation.  The Foundation charges a very low annual administrative fee ranging from 1% to 2%, depending on the type of fund established. The Foundation staff can answer any questions you may have regarding our fee structure. 

Can I advise how my funds will be invested?
Yes!  The Community Foundation offers three investment pools, and donors may recommend the one that best meets their needs and interests. 

• The Conservative Pool: Provides for preservation of principal and stable generation of income. This pool is appropriate for donors with low tolerance for volatility.
• The Balanced Pool: Provides long-term growth of capital and generation of income by investing in a diversified mix of domestic and foreign equities and fixed income securities. This pool is appropriate for donors who seek moderate growth paired with stability.
• The Growth Pool: Provides long-term growth of capital with the production of income being secondary.  This pool is appropriate for donors seeking capital appreciation who have a higher tolerance for volatility.  

The Foundation staff is happy to review the investment options with you and assist you with this process. 

What kinds of assets may I use to open a fund?
Funds may be established with cash, securities traded on major exchanges, closely held stock, mutual fund shares, real estate, bequests, interests in limited partnerships, and more!  The Foundaion staff is experienced at evaluating unusual assets and can accommodate them when suitable for charitable purposes. 

I need to set up a fund quickly.  How long does it take?
Giving should warm your heart, not burden you with tax complications and ongoing administrative details. Once you have decided on the type of fund you would like to establish, the Foundation staff can set it up with a simple governing document that requires less than an hour to prepare and complete. 

May I select the name of the fund?
Absolutely. You may use your own names, names of individuals to be honored or memorialized, or the name of your business. Some donors select a more general name to retain anonymity.