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 Waterloo 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.