Frequently Asked Questions

//Frequently Asked Questions

Nonprofit organizations are encouraged to explore establishing a Gift Fund at the Foundation to insure fiscal perpetuity and to work with the Foundation’s staff on planned giving programs.

The Foundation allows unlimited grant distributions from your donor advised fund.

Additional gifts to your fund can be made in any amount and at any time.

The Foundation respects requests for anonymity. If you wish your donor advised fund to remain anonymous, you may name it accordingly. You may also indicate if you would like for all or occasional grant distributions from your donor advised fund to be anonymous on your fund agreement.

The Foundation offers several types of charitable trusts.  You should consult with your professional advisor and the Community Foundation staff with detailed questions about the type of charitable trust that would best suit your needs.

The Foundation will work closely with you and your professional advisor(s) to help facilitate planned gifts of all types through your personal estate plan.

While tax considerations vary according to assets, generally, you may deduct up to 50% of your adjusted gross income (AGI) for cash contributions, and up to 30% of your AGI for gifts of highly appreciated assets such as publicly traded securities. Tax laws and regulations change frequently. Your tax situation is unique and likely to be affected by specific facts and circumstances that are beyond the Foundation’s control or knowledge. We encourage you to consult with your Professional Advisor when establishing your Fund.

The Foundation works with Professional and Financial Advisors to assist donors in the philanthropic process. We encourage you to include any of your Advisors in exploring and deciding to establish a Fund or Charitable Trust.

Contact your Professional Advisor and/or the Community Foundation to discuss the assets and types of Funds that best fit your charitable interests and financial situation.  The Community Foundation offers great flexibility with the type of fund and level of donor involvement desired. There are several types of charitable funds, including donor-advised, field-of-interest, unrestricted, designated, scholarship and agency funds.  They are explained in more detail here, but staff is happy to meet with you to discuss which type of fund will achieve your charitable objectives most efficiently.

A Donor Advised Fund at the Foundation is less costly, in terms of both time and money, to establish than a private foundation. The Foundation can help you establish a Donor Advised Fund in a matter days and handles all the administrative details. Establishing a private foundation can take months or longer, and you are responsible for substantial legal, accounting and operational matters.

The Foundation has competitive fees and offers more charitable products than the commercial gift funds. The Foundation also offers the local, professional expertise of its staff to help connect you to the community causes you care about.

A community foundation is a flexible, yet permanent collection of funds supported by a wide range of donors.  Community foundations make grants to community groups from funds established by individuals, families, businesses, and others that want to support the work of nonprofits, schools, and other groups that address community concerns. There are more than 650 community foundations across the United States.

The Community Foundation of Cleveland and Bradley County is a nonprofit community foundation that manages and invests charitable funds for individuals, families, businesses and other nonprofit organizations.