Named Fund Options.
Each of the funds listed below are all offered by the Community Foundation. In most cases, each of the funds can be established with the execution of a pre-established legal document. They can be established immediately or they can be created under a future will or trust. Please contact us for more information or specific fund guidelines.
The Longleaf Fund.
This fund is supported by individuals and families who understand that a community’s needs and strengths are constantly changing. Such donors are committed to supporting the Community Foundation's efforts to create an unrestricted pool of charitable dollars to invest in worthy community projects or initiatives. All grants from the Longleaf Fund address define priorities in Calhoun County.
Advised or Family Fund.
The Foundation welcomes the opportunity to partner with individuals and families who wish to be actively involved in grantmaking. The Advised Fund is designed to provide donors with a flexible vehicle for achieving their charitable objectives while promoting their personal values or passing those values on to their children. These funds offer donors the option to recommend grants over a prolonged period of time.
Designated Fund.
A Designated Fund lets you to support one or several specific charitable organizations both locally and nationally. You name the institutions and the CFCC makes annual awards in your name for a set number of years or in perpetuity.
Scholarship and Financial Aid Funds.
Donors may establish a specific scholarship or student financial aid program to benefit a specific high school, area of study, class of students or educational institution (as long as the award benefits area residents). With assistance from the staff, you outline the award guidelines and enjoy the benefit of helping a high school student or returning student to achieve their goals and become economically self-sufficient.
Corporate Fund.
The Foundation welcomes the opportunity to partner with corporations, businesses and companies that wish to be actively involved in grantmaking. The Corporate Fund is designed to provide corporate donors with a flexible vehicle for achieving their charitable objectives while promoting their values. The Foundation staff assists in establishing the guidelines and your staff, employees or retirees recommend the distributions benefiting the community.
Institutional Endowment Fund
Nonprofit organizations including schools, civic clubs, associations, religious institutions and governmental agencies can establish a foundation or endowment with the Community Foundation without having to incorporate or file for 501(c)3 status with the IRS. These permanent assets are designated to support the charitable mission of the organization and overall betterment of the community.
Field of Interest Fund.
This fund supports grants that meet needs in a particular area of interest such as education, recreation, healthcare, safety, environmental protection, economic development or historic preservation. The donor defines the “field of interest” with the grants being awarded to organizations or institutions that provide programs or services related to the defined area.
Family Foundation.
Most donors who wish to establish a private foundation believe in philanthropy as a responsibility of wealth. Also, they seek to incorporate a charitable component into their tax and estate planning process and they wish to promote charitable giving as part of a family tradition. To assist these values, the Supporting Organization provides families with the ability to establish a private foundation within the Community Foundation with significant savings related to administrative costs and tax advantages. You select the name and identify the charitable mission. The same benefits are true for existing private foundations that wish to have the Community Foundation assume their administrative and distribution tasks.
Community Funds Outside Calhoun County.
The Community Foundation can establish an “Affiliate Fund” in a neighboring northeast Alabama county to help residents develop their own community foundation. For example, donors could leave bequests, trusts or establish current funds as part of the Affiliate Fund. All the grants and scholarships support the defined region; the CFCC only provides the administrative and investment support until the new foundation can be self-sustaining. The goal is to foster a growth in philanthropy in our region and assist neighboring residents to invest in their communities.
Non-Endowed Fund.
The Community Foundation welcomes the opportunity to partner with area residents, civic clubs or other unincorporated entities or groups that desire to support a defined charitable project bettering the community. The Non-Endowed Charitable Fund is designed to provide a structure for these initiatives without establishing a separate foundation, 501(c)3 organization or other legal entity. In most cases, these projects are limited in scope and the fund ceases to exist once the project or program is completed.
For more information, email us at: info@yourcommunityfirst.org
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