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Types of Funds- NEWS -CCCF Welcomes New Executive Director CCCF 3rd Quarter 2007 Grant Awards 25th Anniversary Report to the Community Now Available Charitable IRA Rollover - Check It Out
| Types of FundsThe Foundation offers six types of funds with three different minimum contribution levels in order to accommodate the varying interests and needs of our donors. Regardless of the type of fund you choose, you can add to it at any time. Others may also contribute to any fund within the Foundation.Heritage Funds ($10,000 minimum)Heritage Funds are a new class of funds established by the Foundation in 2003 to support the growth of CCCF. The purposes of the Heritage Funds are twofold: to allow donors to establish a fund at a lower gift level from our other funds, and to support the ongoing operating expenses of the Foundation itself. We anticipate that Heritage Funds will make it possible for more people to establish memorial and honorary funds within CCCF.Discretionary Funds ($25,000 minimum*)If your interests are broad and you are primarily concerned with meeting changing community needs, you might consider establishing an Undesignated Fund. This type of fund allows the Foundation's Board of Directors full discretion in determining how distribution from your fund can best be allocated each year to meet pressing needs in our community.Designated Funds ($25,000 minimum*)Through a Designated Fund, you choose one or more not-for-profit organizations or programs to receive distributions. You are assured that your gift will never become obsolete. If the organization or program ceases to exist in future years, the Foundation will direct the grants from your fund to another purpose which matches your original intent as closely as possible. A Designated Fund may be set up to endow scholarship awards or to provide direct support to any of our local school districts.Endowments Created by Organizations ($25,000 minimum*)Are you active in a not-for-profit organization that has received a bequest? Perhaps a donor has come forward wanting to make a planned gift such as a charitable remainder trust. Or does someone want to give your organization a gift of appreciated securities or other property? Maybe your group is seeking long-term financial stability and needs the support of investment management professionals. The Centre County Community Foundation can provide professional management for all these gifts, thus assuring that your not-for-profit organization will receive ongoing benefit from your generous donors.Field-of-Interest Funds ($25,000 minimum*)If you want the income from your fund to be disbursed to a specific community or you would like to specify an area of charitable interest, a Field-of-Interest Fund can achieve your goals. For example, you could establish a Field-of-Interest Fund to provide ongoing support for low-income families, health care issues, the arts or a specific geographic area within Centre County, or any other interests you have.Donor-Advised Funds ($100,000 minimum*)The Donor-Advised Fund is basically an unrestricted fund, but you have the privilege of suggesting the organizations or programs to receive grants. While the ultimate decision on all grants must remain with the CCCF Board, the Foundation listens closely to its donor-advisors and does its best to honor the recommendations which are consistent with the Foundation's charitable objectives. A Donor-Advised Fund, established with a minimum gift of $100,000, is often a wise alternative to a private foundation.* Step-Up Funds may be established for all $25,000 funds with an initial contribution of $5,000 to build to the $25,000 minimum within five years. A Donor-Advised step up fund may be established with a gift of $25,000 to reach the $100,000 level within 5 years.
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The official registration and financial information of Centre County Community Foundation may be obtained from the Pennsylvania Department of State by calling toll free, within Pennsylvania, 800-732-0999. Registration does not imply endorsement. | |
