Many people have questions about charitable giving and establishing funds to leave a legacy. We’ve listed a few of the more common questions and answers below. Simply click on a question to see the answer.
If you have a question that is not answered here or would like additional information, please contact us.
Yes. When establishing your fund or recommending grants from your fund, you may elect to remain anonymous.
Yes. Some donors suggest that friends and family give to their fund in honor of a special event, such as a birthday or anniversary or in lieu of purchasing a gift.
The Foundation’s Board and Investment Committee oversee the investments of the Foundation. Additionally, the Foundation engages professional investment advisors who have extensive experience in endowment building and long-term investment strategies.
No. You do not have to be wealthy to give leave your legacy through the Community Foundation of Northwest Florida. Anyone can be a philanthropist by making a donation of any amount to an existing fund or by establishing a new fund with an initial gift of $5,000.
The Community Foundation provides all administrative, accounting and government reporting functions associated with a fund and charges the fund an administrative fee. The fee, adopted by the Board of Directors of the Community Foundation from time to time, is reasonable and in keeping with fees charged by other community foundations.
An endowment is a fund in which the original and subsequent contributions are held in perpetuity and invested to provide an ongoing stream of revenue from the earnings of the fund.
United Way agencies typically raise funds and distribute grants to health and human services organizations on an annual basis.
Community foundations establish charitable funds for long-term giving to charitable organizations, and they are not limited to health and human services organizations. Also, most grants made by community foundations are designated by donors.
A minimum of $5,000 is needed to establish a fund; however, contributions of any amount can be made to an existing fund.
Gifts to the Foundation qualify for the maximum available tax deduction allowed by the federal tax laws for charitable contributions. Please consult your tax advisor for more information regarding the deductibility of charitable gifts.
Creating a charitable fund at the Community Foundation helps you be more organized and tax wise with your charitable giving. It also helps you create a charitable giving legacy that continues beyond your lifetime. A fund at the Foundation keeps you connected to your gifts, your family and your favorite charities.