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Support Organization Funds...
A supporting organization is a separate legal entity
affiliated with CCCF by its purposes and operations. It may have its own
letterhead, checkbook and investment manager. It may even publish its own annual
For an individual donor, a supporting organization is an excellent way to gain
the participation and visibility traditionally associated with a private
foundation without IRS regulations and restrictions. For private foundations
concerned about continuity or maintaining their impact, converting to a
supporting organization will ensure that time and overhead do not erode the
To qualify as a supporting organization under Section
509(a)(3) of the Internal Revenue Code, a majority of the supporting
organizationís board members must be selected by the CCCF Board. (Thus, if the
three existing trustees of a private foundation wished to serve as board members
of the supporting organization, the CCCF Board would select four additional
members.) Creators of a supporting organization may submit eligible persons for
review and approval by the CCCF board of directors.
Minimum gift size
Because a separate investment portfolio may be maintained for a
supporting organization, an initial gift of $1 million is required, with the
goal of reaching $5 million in three to five years.
Supporting Organization Advantages
recognition: A supporting organization provides the same visibility as a
private foundation. Donor members of the board may serve as officers and, as
such, can sign the grant checks and the grant award letters.
Tax benefits: Supporting organization donors generally
receive more generous tax deductions than creators of private foundations. If
appreciated securities, including closely held stock, are used to make a gift,
the donorís deduction can be up to 30% of the donorís adjusted gross income
(AGI) and 50% of AGI if the gift is cash.
Investment management: The supporting organization may maintain a separate
investment portfolio, with the board selecting its own professional investment
manager. The supporting organization is required to establish an investment
policy using the Community Foundationís investment policy as a guideline. The
investment management fee depends greatly upon the market value of the
supporting organizationís assets.
Lower operating expenses:
The operating costs of a supporting
organization are generally lower than for comparable private foundations. While
both organizations must file an IRS Form 990, a supporting organization does not
pay the excise tax on investment income and realized gains that private
foundations must pay. The CCCF annual administrative fee is 1% of the first $1
million in assets, .75% for the next $1.5 million, .50% for the next $1.5
million and .40% for assets over $5 million.
involvement: With a supporting organization, donors can be as involved as
they wish in reviewing grant proposals and recommending grants. CCCF staff members are available to assist donors in identifying
worthwhile programs, evaluating the financial capabilities of applicants and
their need for additional funds, assessing program quality and monitoring grants
from a supporting organization to ensure the money is used as intended by the
Accountability: The financial records of supporting organizations are
included in the CCCF annual audit. CCCF staff fulfills all
state and federal reporting requirements.
Services for Supporting Organizations
Articles of incorporation and bylaws
used to establish a supporting organization
Basic supplies, telephone, mail
service, office equipment. Meeting space. Staff for board meetings;
including minutes and follow-up. Documents, customized stationery and
envelopes. Newsletters, brochures and reports.
Filings with the State and IRS
D&O liability insurance
Mailing lists and other computerized
Reviewing grant proposals and making
recommendations to the Board
No form required. Call or e-mail
CCCF for more information. Or, you can use our convenient online
information request form to to request more information from CCCF.
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