Why should I donate to an endowed fund?
Your gift will keep on giving. The principal will continue to grow and benefit the community in future years.
The Community Foundation is a public charity. Contributions are tax deductible to the full extent allowed at the time your gift is made.
Your contribution will be professionally managed. The Foundation’s Investment Committee ensures professional fund management, which other small individual trusts or private foundations may find too costly to obtain. Because funds in a community foundation are pooled for investment purposes, donors have the advantage of a diverse investment mix and reduced risk. New direct assessment management relationships allow fund holders to choose the investment advisors they prefer.
You may give visibly or anonymously. There is no greater encouragement for others to give than to see what others have given. Grants can be made in your name, and your gifts will be publicly acknowledged. Or if you prefer, all activity from your fund will be kept anonymous.
Administrative costs are low. Because the Foundation is a nonprofit institution, administrative costs are low. Moreover, an administrative endowment covers the costs for the unrestricted endowments so more dollars can go toward making grants.
How can I create a fund?
There are many ways for individuals, families, companies and private foundations to establish a fund at the Chillicothe-Ross Community Foundation. A named fund may be created for as little as $5,000. The arrangements usually can be made during one meeting, with funds being governed by a clear and brief agreement. You can establish a fund right now or later during your life. Through a charitable gift annuity, or a charitable remainder trust or you can establish an income stream now and a fund at a later time, or create a fund upon your death.
Establishing a fund by will
You or your counsel are encouraged to contact us to be sure that we meet your goals. Donors sometimes benefit from writing a “side letter” with Foundation staff that outlines in greater detail your intentions for the bequest and how the Foundation will carry out those wishes. See Getting Started in this website for specific will language you or your counsel can incorporate in you will.
Establishing a fund by trust
Charitable trusts can benefit any of the permanent funds at the Foundation or other named nonprofit organizations. Such trusts can provide a current tax benefit, reduce estate taxes, provide for family or friends, and ultimately benefit the community. The Community Foundation can also serve as trustee when other nonprofit groups are supported through an endowed fund with us.
Why should I consider creating a discretionary fund?
Your gift keeps pace with changing times. Your gift will be overseen by current community leadership, and it will be used to meet current community needs, regardless of how they change over time.
How can a private foundation participate?
Private foundations can work as a partner with a Community Foundation to facilitate their own grant making process through a donor advised fund at the Community Foundation. Private foundation trustees continue to advise where, how and when grants should be made from these funds. Private foundation can also work with the Community Foundation on its discretionary grant making efforts.
Sometimes it is in the best interest of the trustees of the private foundation to terminate into a donor advised fund that continues the original name of the founders. In addition, assets may be distributed to a discretionary fund at the Community Foundation’s or to one or more field of interest funds. Private foundations may also terminate into a supporting organization of the Community Foundation. This corporate form allows donors to participate on a Board of Directors, recommend grants and review proposals.