The Community Foundation is a vehicle for philanthropy. While recognized by the IRS as a non-profit charitable organization, it does not promote any one charitable cause. Rather, its mission is simply to encourage and facilitate charitable giving in this community. You can establish a personal charitable fund in The Community Foundation with a gift of almost any sort. The proceeds are used to generate grants to charitable organizations, with your wishes being carefully observed.

The Foundation offers donors a choice of creating two basic types of funds: endowment funds and donor advised gift funds. Endowment funds are an excellent way to assure support - both now and into the future - for charitable efforts of special interest to you. Because endowments are permanent funds, they keep giving year after year.

The Community Foundation carefully invests your gifts to an endowment fund so that they may grow in their ability to benefit your charitable interests. Endowments may be started with an initial gift of as little as $5,000. Donors should remember, however, that it takes a substantial asset base to generate significant income for distribution. You may add to your endowment in any amount at any time. Some donors contribute to their endowment with a modest initial gift then fund it substantially through a bequest in their will.

ENDOWMENT FUNDS may take a variety of forms:

Unrestricted funds can have the broadest impact on the community because they give the foundation's distribution committee broad discretion to fund projects that meet the community's most pressing needs as those needs change over time.

Field of interest funds allow you to address an issue of particular importance to you without naming a specific charity. You name the purpose of the fund, such as combating illiteracy or promoting the arts, and the Foundation identifies projects that can effectively accomplish that goal at any given time.

Donor advised funds are the Foundation's most flexible fund. Rather than naming any specific charitable cause or organization, you retain the right to recommend grants to charitable agencies of your choice. Many donors find the donor advised fund to be a good alternative to establishing a private foundation.

Designated funds allow you to name a particular charity or charities to benefit from your fund in perpetuity. If a designated charity ceases to exist, the Board will preserve your intent by redirecting the fund toward the closest similar use.

DONOR ADVISED FUNDS are a convenient way to manage your annual giving and are one of the most popular methods of charitable giving offered by The Community Foundation. A Gift Fund differs from an endowment fund in that it is not meant to be permanent - all the assets in your fund are available for charitable distribution. Gift funds are similar to endowments in all other respects.

When you a make a charitable gift of appreciated property to The Community Foundation to establish a Gift Fund, you pay no capital gains tax on your gift. In most cases the full market value of your appreciated assets is tax-deductible. You may make your gift to The Community Foundation at the most opportune moment for you and then make charitable distributions at a later date.

The Community Foundation handles all the administrative details of your Donor Advised Gift Fund at no charge. The income earned on your fund is retained to help cover costs. The minimum recommended initial gift is $1,000.

The Community Foundation is an ideal partner to assist you and your professional advisors with your financial planning and estate plans. You are encouraged to explore options in confidence with the Foundation staff.