This popular fund provides the most flexibility in meeting a donor's charitable objectives. The donor may make grant recommendations from the fund’s investment income, appreciation, and/or corpus. Grant recommendations may be made on behalf of any nonprofit organization (with 501(c)(3) status) located anywhere in the United States. As with all charitable funds at CCCF, neither the donors nor their advisors may benefit personally from grants disbursed from a Donor Advised Fund.
The donor may name advisors, including the donor’s children, to the fund account. Advisors may continue to guide the fund account after the donor's lifetime. A donor may also specify how the account will be handled after his or her death, in three ways:
Once the fund account is established, additional contributions may be made in a variety of ways, i.e. cash, marketable securities, distributions from IRAs and 401K plans, or bequests.
Donors may select an area or category for giving from this fund – education, health and human services, arts, civic affairs or the environment, for example. A donor’s contributions are forever restricted to the selected field. During the donor’s lifetime, the foundation staff will consult with the donor about appropriate grant opportunities. The donor's account monies may be pooled with other like-minded gifts so that larger grants may be made.
Request a "Field of Interest Fund Agreement" form or more information from CCCF.
More focused than the Donor Advised Fund, a donor names the current and future charitable recipients at the time the fund account is created. The donor may decide the size of future grants, establishing a fixed percentage or dollar total to be awarded from available monies.
Grants may be distributed from investment income and/or the corpus of the fund. During a donor’s lifetime, a donor may change the charitable recipients designated by the fund account or make changes that would apply after death. If, after the donor's death, a designated charity ceases to exist, the Foundation will identify the closest alternative to carry out the donor's intentions.
You can request more information from CCCF.
A donor may set up a scholarship fund in the donor’s name or the name of a loved one so that deserving young people are provided the opportunity to receive an education. Flexibility is important in meeting the greatest need, but donors may specify particular schools, a particular field of study or other parameters. Scholarships can be for any level of education.
No form required. Call or e-mail CCCF for more information.
A supporting organization is a separate legal entity affiliated with CCCF by its purposes and operations. It may have its own letterhead, checkbook and investment manager. It may even publish its own annual report.
For an individual donor, a supporting organization is an excellent way to gain the participation and visibility traditionally associated with a private foundation without IRS regulations and restrictions. For private foundations concerned about continuity or maintaining their impact, converting to a supporting organization will ensure that time and overhead do not erode the foundation’s mission.
Board makeup
To qualify as a supporting organization under Section 509(a)(3) of the Internal Revenue Code, a majority of the supporting organization’s board members must be selected by the CCCF Board. (Thus, if the three existing trustees of a private foundation wished to serve as board members of the supporting organization, the CCCF Board would select four additional members.) Creators of a supporting organization may submit eligible persons for review and approval by the CCCF board of directors.
Minimum gift size
Because a separate investment portfolio may be maintained for a supporting organization, an initial gift of $1 million is required, with the goal of reaching $5 million in three to five years.
Supporting Organization Advantages
Donor recognition: A supporting organization provides the same visibility as a private foundation. Donor members of the board may serve as officers and, as such, can sign the grant checks and the grant award letters.
Tax benefits: Supporting organization donors generally receive more generous tax deductions than creators of private foundations. If appreciated securities, including closely held stock, are used to make a gift, the donor’s deduction can be up to 30% of the donor’s adjusted gross income (AGI) and 50% of AGI if the gift is cash.
Investment management: The supporting organization may maintain a separate investment portfolio, with the board selecting its own professional investment manager. The supporting organization is required to establish an investment policy using the Community Foundation’s investment policy as a guideline. The investment management fee depends greatly upon the market value of the supporting organization’s assets.
Lower operating expenses: The operating costs of a supporting organization are generally lower than for comparable private foundations. While both organizations must file an IRS Form 990, a supporting organization does not pay the excise tax on investment income and realized gains that private foundations must pay. The CCCF annual administrative fee is 1% of the first $1 million in assets, .75% for the next $1.5 million, .50% for the next $1.5 million and .40% for assets over $5 million.
Donor involvement: With a supporting organization, donors can be as involved as they wish in reviewing grant proposals and recommending grants. CCCF staff members are available to assist donors in identifying worthwhile programs, evaluating the financial capabilities of applicants and their need for additional funds, assessing program quality and monitoring grants from a supporting organization to ensure the money is used as intended by the donor.
Accountability: The financial records of supporting organizations are included in the CCCF annual audit. CCCF staff fulfills all state and federal reporting requirements.
No form required. Call or e-mail CCCF for more information.
This all-purpose fund offers the greatest flexibility in dealing with Chariton County’s most pressing needs as conditions change over time. Donors to this fund believe that the Community Foundation staff knows our community and can best determine how to improve Chariton County's quality of life.
A contribution to the Community Investment Fund also reflects the donor's faith in the community foundation’s stewardship and public accountability. The donor believes in the foundation’s structure – that its diverse board of community leaders will ensure the donor’s money is spent wisely and compassionately.
No form required. Call or e-mail CCCF for more information. Or, you can use our convenient online information request form to to request more information from CCCF.
CCCF has helped organizations develop or better manage a permanent endowment. One of the more significant activities of the Foundation is asset management. By establishing a Designated Fund, nonprofit organizations, federations and/or associations can access the Community Foundation’s diversified portfolio managers on a cost-effective basis. A Designated Fund also protects those assets from an adverse creditor judgment against the organization. An equally important aspect of a Designated Fund is that it relieves the board of the organization, which may not have members with financial management experience, of the financial management of assets. All organizations with Designated Funds will be linked to this website.
Decide how you would like to make the contribution to establish the fund. You can contribute cash, securities or other property valued at $5,000 or more.
Select a name for your fund. You might want to use your own name, the name of a family member or one that focuses on the fund's intent.
Designate successor advisors, such as your children, who can make grants from the fund after the death of the donors.
Complete and sign a simple affiliation document.
Receive a tax deduction at the time the fund is established and when additional contributions are made to the fund.
Once your fund is established, you may:
Whether your giving capabilities are modest or monumental, a community foundation can customize a personal fund account of lasting value and impact. Grants made from each component fund are given in the fund’s name to nonprofit organizations located anywhere in the U.S.
Like its national counterparts, the Chariton County Community Foundation is a fully tax-exempt public charity formed to serve a wide range of donors concerned about quality-of-life issues, locally and throughout the country.
CCCF is governed by a cross section of Chariton County leaders, and our funds are currently invested with a diverse group of money managers. An annual fee of 1.5% is charged quarterly against each fund’s asset balance. Investment management fees are presently 1.5% annually.
Donors receive a quarterly statement reflecting that quarter’s beginning balance, investment income, appreciation (or depreciation as the market dictates), contributions, grants and closing balance.
Schools, churches, hospitals, museums, orchestras, operas, theaters and parks are some of the beneficiaries of donor-advised grants. Grants are processed monthly on the basis of donor recommendations. After establishing a fund account, a donor uses a one-page form to recommend each grant award. Grants are restricted in only two ways: the recipient must be a nonprofit organization and the donor may not benefit from the funds awarded.
Tax Benefits -- Gifts and bequests made to CCCF result in a charitable tax deduction of up to 50% of adjusted gross income for cash gifts and up to 30% for property gifts, compared to tax deductions of only 30% and 20%, respectively, with private foundations.
Simplicity -- A gift creates a "charitable savings account" and the investment income from the account can be used to make grants to other nonprofit organizations.
Efficiency -- Unlike a private foundation, there are no start-up costs, annual IRS filings or excise taxes. Plus, CCCF fulfills the associated fiduciary responsibilities for the donor.
Permanence and Continuity -- Since they can name advisors to their fund, donors can involve family members in philanthropy, thereby passing the "philanthropic gene."
Flexibility -- The Community Foundation is cognizant of changing conditions within the nonprofit sector in the Chariton County community and can be consulted in directing grants to qualified organizations that best meet the donor’s goals.
Recognition -- Each grant transmittal letter credits the donor’s fund account as the source of the grant. In cases where the donor wishes to remain anonymous, the Chariton County Community Foundation will honor the donor’s wishes.
Tax deductible gifts to create or add to a fund at CCCF may be made in many forms:
A community foundation is a collection of funds established by individuals, families, corporations and nonprofit agencies to enhance the quality of life in a local area. These funds are pooled and, with professional money management, invested by a board of directors comprised of community leaders. Funds may be distributed as grants by the community foundation, on the recommendation of donors and subject to the approval of the board.
Like its national counterparts, the Chariton County Community Foundation is a fully tax-exempt public charity formed to serve a wide range of donors concerned about quality-of-life issues, locally and throughout the country.
A community foundation such as CCCF can customize a fund account of lasting value and impact to meet specific philanthropic objectives. Grants made from a donor’s fund are given in the donor’s name to agencies selected by the donor. Any charitable cause, anywhere in the United States, can be a grant recipient from a donor fund, which serves as a charitable savings account.
The Chariton County Community Foundation, established in 1998, is a fully tax-exempt public charity under sections 501(c)(3) and 170(b)(a)(A)(vi) of the Internal Revenue Code. Our charitable services are available to anyone interested in personal giving for public good. The Community Foundation is designed to make giving easy for individual or family donors and their financial advisors with the best combination of tax savings and philanthropic choices for donors. We also support nonprofit agencies with the growth and management of endowment funds and, through our Center for Community Initiatives, assist emerging nonprofit and sponsor collaborative programs that make Chariton County a better place to live.
Staffed for operation in 2000, CCCF ended 2001 with over $110,000 in assets in the various funds. During 2001 more than $15,000 in grants were made to a variety of individuals and organizations.