Charitable Goals
Just as each of your clients has a unique estate plan and financial plan, your charitably-minded clients need a unique giving plan. For some clients, giving shares of highly-appreciated stock consistently every year to their fund at the Community Foundation makes the most sense for their goals and their mix of assets. For others, leaving a bequest to CFHZ to support specific areas of interest is the best fit for the client’s financial situation and community priorities. We offer a range of charitable giving vehicles to meet a wide range of clients’ needs. In many cases, a single client can benefit from setting up multiple funds of different types.
Giving Vehicles
Here’s a quick primer on some of the fund types offered at CFHZ.
Donor Advised Fund
A donor advised fund (DAF) is a flexible, low-cost charitable giving account that allows your client to take an immediate tax deduction when they make their gift and enjoy the flexibility to recommend grants over time. There is no minimum required to open a DAF, and your client can add to their fund at any time. The Foundation handles the administrative work, your client has access to our knowledgeable team, and they receive helpful communications and invites to special events to learn more about community needs and opportunities.
Community’s Endowment Funds
Unrestricted Fund
The flexibility of unrestricted funds allows CFHZ to use the expertise of our staff and board to make the best possible investments across all issue areas for generations to come. One of the biggest benefits of a community foundation is its perpetual structure that ensures your client’s fund will support community needs and opportunities as they evolve over time.
Field of Interest Fund
Field of interest funds allow the Foundation flexibility to invest in the organizations, programs, and initiatives that are making a positive impact within a specific area of interest that your clients care most about, such as the arts, education, basic needs, seniors, or youth. Within that area of interest, CFHZ will identify the best possible community investments for generations to come.
Scholarship Fund
Whether it is academic success, financial need, community involvement, or a specific area of study, a scholarship fund can help fulfill the educational dreams for the local students your clients want to support.
Designated Nonprofit Funds
A designated nonprofit fund allows your client to support one or more charitable organizations. They may establish their own fund to support a specific nonprofit(s) or contribute to one of the more than 200 Nonprofit Endowments already established. The Foundation provides responsible and professional fund management and administrative support, allowing the nonprofit to focus on their mission.
Quick Tips
The Community Foundation is a public charity, and a gift from your client to any fund will receive the favorable charitable tax benefits of gifting to a public charity.
If you represent clients are 70 ½ or older, consider recommending a Qualified Charitable Distribution from a client’s IRA to a fund at the community foundation. All of the fund types noted above are eligible recipients, with the exception of only the donor-advised fund.
Unlike other options, our low-cost, competitive fee structure benefits our work in the community, furthering your client’s impact.
We always encourage donors to first seek the advice of their legal, financial, or tax advisors when considering a gift of non-cash assets. While our team does not offer tax advice, we stay knowledgeable on charitable giving strategies. Please contact Colleen Hill, Vice President of Development & Donor Services, at chill@cfhz.org or by calling 616–994–8853 if we can help you serve your clients.