Introducing

Charitable Checking Account

The Community Foundation is pleased to announce that it will soon offer a new way to give back! Charitable Checking Accounts offer a simple, flexible way to support the causes and nonprofits you care about.

What is a Charitable Checking Account?

The Community Foundation of Herkimer & Oneida Counties offers a simple, flexible way to support the causes and nonprofits you care about most through a Charitable Checking Account.
Available to individuals, families, businesses, and organizations, these accounts are easy to open - with no minimum balance required and no annual fees.
They offer valuable tax advantages and can be managed effortlessly through an online portal that provides real-time access to fund data.
With one convenient gift, you can maximize your charitable dollars and make a lasting impact.

Benefits

Simplicity

There is no minimum to establish a Charitable Checking Account, nor are there any annual fees. 5% of grants made from the fund will go towards the Community Foundation’s Community Fund, which supports areas of greatest need.

Flexibility

Charitable Checking Accounts can be established with gifts of cash, appreciated securities to avoid capital gains tax, or even through automatic withdrawals from an existing checking or savings account.

Accessibility

Accountholders will have access to our leading-edge online Fundholder Portal, which allows you to view your account history and statements, plus you can easily recommend grants anytime at the touch of a button.

Convenience

Keeping track of gift receipts for tax time is a breeze with all charitable giving activity maintained though one easy account.

“For as long as I can remember, I have given to multiple charities all throughout the year. Tax time was always such a burden, trying to ensure that I has all of the tax receipts needed to receive a tax deduction. After opening a Charitable Checking Account, I am amazed by how simple it is to see my grant history, make grants to charities I love, and to add dollars to the account at my own convenience. I would recommend this route to anyone trying to simplify their giving efforts!”
Anonymous Donor

“Most people think very seriously around opening accounts to save for retirement, for their kid’s college education, and even for health expenses. I would argue that the same should be done for an individual’s charitable giving, because it is also a very important piece of many people’s finances. I am pleased that the Community Foundation now offers such a modern and unique way for donors to streamline annual giving.”
Nick Grimmer
Chief Development Officer, The Community Foundation of Herkimer and Oneida Counties

(2 Total)

FAQs

Who can open a Charitable Checking Account?

If you are an individual, family, business or other organization and regularly give to charities, or are looking to learn more about making contributions to your favorite nonprofit organization(s), you will find this a convenient, beneficial service.

Why not just give directly to nonprofit organizations?

Charitable Checking Accounts offer tax-advantages that you would not otherwise receive if you were to just donate to a nonprofit. Through a Charitable Checking Account, you are able to enjoy increased tax benefits by timing deductions and giving appreciated assets. Contributions can reduce three kinds of federal taxes: income, capital gains and estate taxes.

Are there any fees?

There is no minimum to establish a Charitable Checking Account, nor are there any annual fees. 5% of grants made from your account will go towards the Community Foundation’s Community Fund, which supports our area’s greatest needs.

Have questions or want to learn more?

Nick Grimmer

Chief Development Officer

315-525-6584

ngrimmer@foundationhoc.org