FAQ
-
We offer a variety of fund options, including: unrestricted funds, designated funds, scholarships, donor advised, committee advised, field of interest, nonprofit endowment, charitable unitrust, community projects, nonprofit support, and Build A Fund.
-
Although some donors want to give directly to a particular organization, many are more comfortable giving through us because of our permanence, professional investment management, and oversight role in ensuring that their wishes are met by the recipient organizations.
-
You can recommend a grant to any organization that falls within the broad mission of the Community Foundation and is qualified as a public charity under Section 501(c)(3) of the IRS code. We ensure that groups recommended for a grant meet this requirement. Due to federal tax laws, we must reject grant recommendations that would benefit a specific individual, fulfill a personal obligation, or support a political campaign or private foundation.
-
We are focused on the needs of Muskegon County, but we allow grants from donor advised and designated funds to any 501(c)(3) nonprofit in the U.S.
-
In most cases, the minimum for establishing a fund with us is $10,000. However, unrestricted funds and funds that support the Community Foundation’s strategic causes can be started for $5,000. Scholarship funds require a minimum gift of $50,000. You can also create a Build-a-Fund and make periodic contributions until your fund reaches the desired amount.
-
We accept a range of assets including: cash, stocks and bonds, real estate, personal property such as jewelry and artwork, life insurance policies and IRA assets. Contact us for a copy of our Gift Acceptance Policy.
-
Our fees are highly competitive with commercial gift funds and considerably less expensive than starting a private foundation. We handle all administrative tasks, including filing annual tax returns, performing due diligence on grants, and all details associated with processing and tracking grants—and there are no setup fees. We offer you all the options of your own private foundation, but without the hassle or extra cost.
-
Gifts to the Community Foundation are irrevocable. The decision to partner with us is a serious one and we encourage potential fundholders to discuss their intent with their financial or legal advisors.
-
We offer several opportunities to make life income gifts and we’re happy to work with you and your professional advisors to determine which type is right for you.
-
If you choose a donor advised fund, you may name co-advisors and successor advisors to continue guiding the fund now and in the future.
-
Donor information is highly confidential. The Community Foundation does not share donor names, addresses or fund-related financial information with any individual or organization without express permission from the donor.