Donor FAQs

Why should I create a fund at The Community Foundation instead of donating directly to an organization?

Basically, The Community Foundation does the work for you. When you have a fund at The Community Foundation, you receive personal service and knowledge that add meaning and purpose to your contribution. We perform due diligence on each organization and our work with other fundholders and organizations often allows us to identify a need within the community that fits your philanthropic goals. In addition, with our donor-advised funds, you are giving directly to an organization when you make your own grant recommendations. Learn more about the top ten reasons most people start a fund. 

How are you different from The United Way?

The United Way has an annual drive and distributes all the gifts it raises to qualifying charities. The Community Foundation creates and manages permanent endowments, making grants with the income. We are available as a permanent charitable resource for the 18 western counties of North Carolina. We collaborate often with The United Ways in our region on issues facing our area. 

If I were to open a fund, what do you charge for your services?

There is no fee to open a fund. Fees for administration of each fund are slightly different based on the type of fund and the assets in the fund. 

How do I make the check out to give to my fund (or any fund)?

Please make checks payable to CFWNC and note in the memo line the specific fund to which you wish the donation to go.

How can I transfer stock?

Please contact Jennifer Sadler  for stock transfer information. 

I want to send a check to an affiliate fund, do I send the check to their PO Box or to CFWNC address at 4 Vanderbilt Park Drive Suite 300 in Asheville?

You may send it to either, or you can donate on-line if that is more convenient for you.

What is the minimum amount required to establish a fund at the Foundation?

The minimum for most of our funds is $10,000. Refer to our Types of Funds for more information about the specific fund you are considering opening. 

I have a private foundation but it has been suggested to me that I look into opening a fund at The Community Foundation instead. Why should I?

When comparing a donor advised fund held at The Community Foundation versus a private foundation, many find that the donor advised fund is a smart option for achieving philanthropic goals with greater tax advantages, few administrative hassles, cost savings and a highly comparable level of grantmaking flexibility.

Can I make a gift to the Foundation and retain income for myself or a family member/friend?

Yes, we offer several opportunities to make life income gifts. We are happy to work with you and your professional advisors to determine which type of gift is right for you.

I represent a business and am exploring our own corporation’s philanthropic giving. Can you help with that?

Yes. A corporate fund might be an affordable, convenient option for you.   

Someone close to me recently passed away and we want to open a memorial fund in their honor. Do you do that?

Yes, we do. We hold several memorial funds and are available to work with you in your moment of grief and loss. 

For Fundholders

Why should I encourage my clients to establish a fund at the
Community Foundation?

Developing a charitable plan that takes into account your client's financial and charitable needs is no small task. As a professional advisor, the opportunity to help your clients achieve their philanthropic goals is both a privilege and a challenge. The Community Foundation wants to be a resource for you, as well as a philanthropic partner for your clients. A full understanding of charitable giving options, which can offer specific tax benefits, can help your clients achieve their financial, personal or business goals. The Community Foundation has an outstanding reputation for integrity and service to donors, and has developed unique resources for you to use in helping donors craft their charitable giving plans.

What type of Community Foundation fund can my client establish?

The Community Foundation offers several types of funds to help your client accomplish their charitable goals. Sheryl Aikman and Becky Davis are available to discuss these options with you and help your client select one or more funds that best suit their philanthropic needs.

How do I help my client establish a fund?

It is easy to establish a fund at the Community Foundation. Your clients can simply decide which type of fund best meets their interests and needs, determine their charitable priorities, select a name for the fund and make a contribution. The Community Foundation can typically prepare and complete the written Fund Agreement in less than one hour.

How much money does my client 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.

What kind of assets may my client use to open a fund?

Funds may be established with many different types of assets. The Community Foundation staff is experienced at evaluating unusual assets and can accommodate them for charitable purposes.

My client needs to set up a fund quickly. How long does it take?

Charitable giving should warm a donor’s heart, not burden them with tax complications and ongoing administrative details. Once your clients decide on the type of fund they would like to establish, Sheryl Aikman or Becky Davis can set it up with a simple governing document that requires less than an hour to prepare and complete.

May my client select the name of the fund?

Absolutely. Your clients may use their own names, the names of individuals to be honored or memorialized or the name of a business. Some donors select a more general name to retain anonymity.

Does the Community Foundation charge my client a 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 3%, depending on the type of fund.

Can my client advise how the fund will be invested?

Yes! The Community Foundation offers different investment pools, and donors may advise the fund be invested in a way that best aligns with their needs and interests.

Why not establish a private foundation?

There are many practical reasons why establishing a charitable fund at the Community Foundation might be better than creating a private foundation. Comparing the two options may provide useful information.

Can you come to my office to meet with my client or to make a presentation about the Community Foundation for my colleagues?

Please email or call the Community Foundation at 828-254-4960 to schedule a time that works best for you and your client.
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4 Vanderbilt Park Drive
Suite 300
Asheville, NC 28803

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