Open a Fund
More than 950 funds make up The Community Foundation. Each has a unique purpose reflecting the wishes of the donor. A new fund can be established with a simple agreement, usually in one meeting. There is no fee to open a fund. Ongoing administrative fees vary slightly based on the type of fund and its assets (a fee schedule is available upon request.)
You can create a fund with almost any type of asset including:
Cash
This is the simplest, most convenient way to start a fund or add to an existing one. Your gift of $10,000 or more can start a fund. Gifts of any size may be added to an existing fund.
Appreciated Property
Real estate, appreciated securities and closely held stock are all suitable gifts and may be deductible as a charitable contribution. Capital gains taxes can be avoided in most cases, and deductions can be taken immediately and carried forward for up to five years.
Retirement Accounts
If you hold an IRA or other qualified retirement plan, you can name the Foundation as a beneficiary.
Life Insurance
Designate The Community Foundation as the owner and irrevocable beneficiary of a life insurance policy, and you can enjoy an immediate tax deduction as well as deductions on future premiums.
Private Foundation
When you transfer the assets of a private foundation to create a donor advised fund at The Community Foundation, you free yourself from administrative tasks and have a team of experts to assist you in your strategic philanthropic goals. Your foundation can retain its name, purpose and grantmaking discretion. We take care of the administrative functions, reporting and financial management — all for lower fees than most private foundations.