Quick Facts About the
Foundation
•
Incorporated as a 501(c)(3) public charity in 2000
•
Tax ID # 68-0472056
•
Assets on December 31, 2008: approximately $500,000
•
Number of funds managed by the Foundation: 24
•
Number of scholarships administered by the Foundation: 6
• Number of paid
Foundation employees: None
• The
Foundation is managed by an all-volunteer Board of Directors
who serve three year terms. The by-laws require a minimum of
eleven Board members and a maximum of fifteen.
• Funding disbursed since inception: Approximately $249,000
Frequently
Asked Questions
1. Is a community foundation a new kind of charity?
No — but you might think so, because of its growing popularity
in recent years. In fact, the first community foundation was
established in Cleveland in 1914. The Calaveras Community
Foundation was established in 2000. Today we join a field
of more than 700 community foundations across the United States,
with combined assets of approximately $45 billion.
2.
Who sets up funds at the Foundation?
Most funds managed at Calaveras Community Foundation are set up
by groups, families or individuals. What
these people have in common is a desire to give back to their
community — whether it’s protecting the environment, honoring the
memory of someone they loved, setting up a scholarship fund to
help students in need, supporting local arts organizations, or
funding any other charitable cause imaginable.
3.
What are the advantages of donating to Calaveras Community
Foundation?
There are many
reasons to give through Calaveras Community Foundation. The
Foundation allows groups, families and individuals to establish a
customized charitable fund without being burdened by the tax
liabilities and administrative hassles associated with setting
up a private foundation. Everyone who creates a fund can
personalize their giving. At the same time, funds are pooled for
investment management purposes to minimize costs and achieve a
greater return, making it possible for a smaller individual fund
to enjoy the same economies of scale as a large independent
foundation.
4.
What is the difference between setting up a private foundation
and creating a donor advised fund at the Calaveras Community
Foundation?
Creating a private foundation subjects you to
a number of regulatory requirements, such as undertaking an
exemption application to the IRS, as well as ongoing
administrative and fiduciary responsibilities, reduced
charitable deductions and a lack of privacy. Calaveras
Foundation makes philanthropy easy. We are a public charity, so
the regulations, taxes and administrative requirements required
to establish and manage a private foundation do not apply to us.
The Foundation provides several cost-effective alternatives to
private foundations.
5.
What is the difference between setting up a gift fund through my
investment firm and establishing a fund at Calaveras Community
Foundation?
At the Calaveras Foundation, we provide much
more than the check writing services of a gift fund at a
brokerage house. One of the most significant advantages to
setting up a fund with us is our commitment to donors. We
provide custom research on nonprofit organizations or issue
areas at your request. We will also meet with you individually
to help develop a strategic approach to grant making. If you are
interested in learning more about these personalized services,
please
contact us.
6.
What kinds of assets can be used to set up a fund at the
Calaveras Community Foundation?
One of the distinct advantages
of working with a community foundation is our flexibility. As a
general rule, a community foundation can accept any type of
asset as long it is marketable and is not encumbered by an
unusual liability. Most often, funds are started with a gift of
cash, real estate or publicly traded stock - but the Foundation may accept
gifts of artwork, closely held stock, intellectual property or other assets.
We're Here to Help Our Community
If you have more
questions about our programs, grant making, and donor services,
please contact us.
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