Acclaiming the future of Chariton County.


Chariton County Community Foundation; P O Box 14, Keytesville, MO  65261

Phone:  660-288-2223- Fax:  660-288-2223

E-mail: cccf@charitoncounty.org

 

How do I start my own fund...


    Decide how you would like to make the contribution to establish the fund.  You can contribute cash, securities or other property valued at $5,000 or more.


    Select a name for your fund. You might want to use your own name, the name of a family member or one that focuses on the fund's intent.


    Designate successor advisors, such as your children, who can make grants from the fund after the death of the donors.


    Complete and sign a simple affiliation document.


    Receive a tax deduction at the time the fund is established and when additional contributions are made to the fund.


Once your fund is established, you may:


    Add to the fund at any time in any dollar amount. See Ways to Give.


    Specify how grant disbursements are to be acknowledged – whether in the name of the fund or anonymously.


WHAT ARE THE BENEFITS OF STARTING A FUND THROUGH CCCF?


     Whether your giving capabilities are modest or monumental, a community foundation can customize a personal fund account of lasting value and impact. Grants made from each component fund are given in the fund’s name to nonprofit organizations located anywhere in the U.S.


     Like its national counterparts, the Chariton County Community Foundation 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.


     CCCF is governed by a cross section of Chariton County leaders, and our funds are currently invested with a diverse group of money managers. An annual fee of 1.5% is charged quarterly against each fund’s asset balance. Investment management fees are presently 1.5% annually.


     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.

HOW DOES THE GRANT PROCESS WORK? WHO BENEFITS?


     Schools, churches, hospitals, museums, orchestras, operas, theaters and parks are some of the beneficiaries of donor-advised grants. Grants are processed monthly on the basis of donor recommendations. After establishing a fund account, a donor uses a one-page form to recommend each grant award. Grants are restricted in only two ways: the recipient must be a nonprofit organization and the donor may not benefit from the funds awarded.


WHAT ARE THE ADVANTAGES OF CCCF?


    Tax Benefits -- Gifts and bequests made to CCCF result in a charitable tax deduction of up to 50% of adjusted gross income for cash gifts and up to 30% for property gifts, compared to tax deductions of only 30% and 20%, respectively, with private foundations.

    Simplicity -- A gift creates a "charitable savings account" and the investment income from the account can be used to make grants to other nonprofit organizations.

    Efficiency -- Unlike a private foundation, there are no start-up costs, annual IRS filings or excise taxes. Plus, CCCF fulfills the associated fiduciary responsibilities for the donor.

    Permanence and Continuity -- Since they can name advisors to their fund, donors can involve family members in philanthropy, thereby passing the "philanthropic gene."

    Flexibility -- The Community Foundation is cognizant of changing conditions within the nonprofit sector in the Chariton County community and can be consulted in directing grants to qualified organizations that best meet the donor’s goals.

    Recognition -- Each grant transmittal letter credits the donor’s fund account as the source of the grant. In cases where the donor wishes to remain anonymous, the Chariton County Community Foundation will honor the donor’s wishes.


WAYS TO GIVE


Tax deductible gifts to create or add to a fund at CCCF may be made in many forms:


    Cash -- The donor receives a full tax deduction for each gift to establish or add to a fund in the year it is made. Philanthropic decisions can be made at the donor’s discretion, using a simple grant recommendation form, which is presented to the CCCF Board of Directors for review.

    Marketable Securities -- Funds are often created or increased with appreciated securities – stocks or bonds that are now worth more than when they were acquired. Payment of capital gains tax is avoided, and the donor receives the maximum allowable tax deduction for the full market value of securities when the contribution is made.

    Charitable Bequests -- Any portion of an estate’s assets may be designated for the creation or enhancement of a fund at the Chariton County Community Foundation. The fund continues doing good work in the donor’s name through a permanent legacy of philanthropy – carefully managed and handled by CCCF according to the donor’s directions.

    Life Insurance -- CCCF can be named as the beneficiary of life insurance policies, and the donor receives an immediate tax deduction, usually in an amount equal to the cash surrender value. Community needs will be met in the donor’s name and within the fund’s parameters as established by the donor.

    Other Assets -- Almost any asset can be contributed to create a fund. Community foundations have been successful in creating funds with assets such as:

        Restricted securities (144 or 145 stock)

        Non-publicly traded securities

        Real estate

        Interests in family limited partnerships

        Charitable remainder trusts (annuity or unitrust)

        Charitable lead trusts

        Conversion of a private foundation

        Distribution of a private foundation’s 5% giving requirement to a CCCF fund

        Designating CCCF as beneficiary of an IRA and/or 401K plan

Chariton County Community Foundation; P O Box 14, Keytesville, MO  65261

Phone:  660-288-2223- Fax:  660-288-2223

E-mail: cccf@charitoncounty.org