FAQ's: Frequently Asked Questions
Gifts:
Are there many community foundations?
Yes, over 700 in the US in almost every major city, state or region.
How much do I need to give to start a fund of my own?
A gift of $10,000 or more entitles you to start a fund, name it, and determine its charitable purpose.
Can I get my money back if I change my mind?
No, the gifts are irrevocable and donors may have already taken a tax deduction for their gifts.
How are you different from The United Way?
The United Way has an annual drive and distributes all it raises to qualifying charities. The Foundation creates and manages permanent endowments, making grants with the income for health, human services, education, arts and the environment. Both are powerful resources for a community.
Can I be involved in making grants from my fund?
Yes. If you choose a donor-advised fund, you can select an advisor from your family to make recommendations for grant recipients. It can become a family activity to promote philanthropy as a shared value and goal for you and your children.
How much does The Foundation take for operating expenses?
The Foundation receives about 1.5% of the market value of the funds for its administrative services. This fee can only be increased by the Board of Directors and has remained constant for many years. We are dedicated to preserving the resources that have been entrusted to us.
