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Other things to consider when giving through a Community Foundation.
Starting and running a private foundation requires both time and money. A private foundation will require a considerable amount of your time, not only in establishing and maintaining it to make sure it complies with Internal Revenue Service regulations, but also in researching the best recipients for your funds. It will also require time from family members or paid staff later to ensure continuity.
The Community Foundation has an experienced staff to handle all the administrative details of your fund. Our Investment Committee is focused on maximizing the returns on our donors’ funds. The Foundation’s low administrative fees save your charitable dollars, leaving you more money to grant out and less paperwork means you have more time to pursue your charitable passions.
We invest in the long term and bring people and organizations together, convening diverse voices to address local issues and opportunities. Our business is building community.
If you already have a private foundation that you’re finding burdensome to administer, you may convert it into a donor advised fund or into a supporting organization within the Area Foundation. Converting a private foundation into a supporting organization at the Area Foundation will enable you to retain the name and purpose of the private foundation and free yourself from the administrative and compliance responsibilities.
Whether your giving capabilities are modest or monumental, a community foundation can customize a personal fund of lasting value and impact. Most Donor Advised funds require a $10,000 minimum balance. Organizational Endowments may be started with a modest gift and left to grow before making regular annual disbursements.
Like its national counterparts, the Community Foundation of Western Nevada is a fully tax-exempt public charity formed to serve a wide range of donors concerned about quality-of-life issues, locally and throughout the country.
CFWN is governed by a cross section of Nevada leaders, and our funds are currently invested with a diverse group of money managers under the guidance of an experienced Investment Committee. In many instances, you may continue your investment relationship with your current investment advisor and add a charitable component.
Donors receive a quarterly statement reflecting that quarter’s beginning balance, investment income, appreciation (or depreciation as the market dictates), contributions, grants and closing balance.
Establishing a fund is very simple and you’ll find none of the administrative and tax requirements that occur when you start a private foundation. You’ll get the maximum tax advantages for income, gift and estate tax purposes. If you have something special to give, such as real estate, we’ll work with you to minimize tax liability.
Best of all, you’ll have professional management of your funds and the peace of mind that if a nonprofit’s mission changes, we’ll be aware of it. One of our many functions is to monitor charities our donors support, ensuring that all funds are allocated according to your wishes today and forever.
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Why should I give to and through the Community Foundation?
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