We know you have a lot of options when it comes to donating, but we hope you will remember the great memories you’ve made in your community and consider making a donation through the Waterloo Community Foundation. Gifts are tax deductible and may include monies, real or personal property, in trust, and may be acquired by will, gift, or otherwise. If you should choose to make a gift, we encourage you to consult with your personal tax advisor, accountant, or attorney.
All donated funds will be banked in local financial institutions, and the foundation will operate with a low fee structure and operational overhead.
If you have a question about how to make a donation, contact us and we’ll help you find the donation method that’s just right for you.
Ways to Give
Your gift to the Waterloo Community Foundation can be given as you direct. Some options are as follows:
Fund for Waterloo
When you make unrestricted gifts to this endowment fund, you provide the Foundation with the greatest flexibility to respond to ever-changing needs in Waterloo. Grants are awarded and operating funds are spent at the discretion of the Board of Directors.
You can name one or more charitable nonprofit organizations to receive distributions of income from the fund in perpetuity. This fund provides stable, predictable sources of income and future financial security to a 501(c)(3) charitable organization of special personal interest.
You can remain actively involved in recommending the charitable organizations to receive grants from your fund. Unless anonymity is requested, the name of the fund is always associated with grant awards. Funds can be endowed or non-endowed.
Field of Interest
You may specify one or more charitable fields of personal interest (arts, environment, education, youth, social welfare, recreation, etc.). The donor relies on our Board of Directors to distribute money from the fund to institutions within that area of interest.
You may establish a scholarship fund in your name or in honor of someone else to help students pursue post-secondary education or training, or those who wish to continue education later in life.
A nonprofit organization can establish its endowment within the Foundation to provide a perpetual source of support. This frees the organization of administrative and investment responsibilities and provides assurance that the endowment will be preserved and may invite contributions.
The Foundation will receive and hold contributions from individuals, corporations, and other organizations that wish to establish a temporary fund to benefit a particular cause or campaign. The Foundation serves as the full-service administrator of gifts received and disburses the fund to the designated charitable entity.
Frequently Asked Questions
We will work with you to create a fund that meets your giving interests!
Here are some questions and answers that may guide your giving:
- Who can establish a fund with the Waterloo Community Foundation?
Anyone such as an individual, business or nonprofit organization. We make it understandable and simple AND provide a personal approach to giving. We also provide opportunities for you to give anonymously, if that is your wishes. The name of your fund can represent you, your family or be anonymous. Gifts will be made to the charities you select in the name of your fund.
- How do nonprofit charities receive gifts from my fund?
If you choose, you may recommend grants to your favorite nonprofit charities and gifts from your fund will be made in your name or the name you choose for your fund. The gift can also be made anonymously. There is no annual minimum distribution required.
- What happens to my gift once in the hands of the Foundation?
Initially, we cannot guarantee significant growth of your gifts, but as we grow our asset base, our Investment Committee will assure that your assets will grow through investment, allowing you to give more to your charity. We suggest that you consult with your tax adviser for advice regarding deductibility of any gift(s) to the Waterloo Community Foundation.
- Who donates to a Community Foundation?
Donors to community foundations like the Waterloo Community Foundation range from people of relatively modest means to those with large financial resources. By establishing a fund or donating to an existing fund within a community foundation, donors can contribute their gifts of cash and appreciated property toward a permanent named endowment or an advised gift fund, in which the principal of the fund is available for grants. Many donors are interested in planned giving and have designated the Moline Foundation in their charitable remainder trusts, charitable lead trusts or bequests.
- What are the costs of having a fund at the Community Foundation?
The cost of administering a fund with us is minimal. We strive to keep costs low. We provide professional fund management and investment expertise, but if you choose, you may also to work with your preferred investment manager. If you prefer to transfer your private foundation to the Community Foundation, we can provide investment services to your private foundation fund. Please contact us for more information.
- What are the tax benefits?
Contributions through the Community Foundation offer a tax deduction of up to 50 percent of adjusted gross income for gifts of cash versus 30 percent for private foundations, and 30 percent of adjusted gross income for capital gain property versus 20 percent for private foundations.