Giving | Advisor FAQs
What are the benefits to my clients of using the Community Foundation for the Ohio Valley as opposed to giving directly to the organization(s) they wish to support?
The Community Foundation offers your clients numerous benefits, including the maximum charitable tax benefits available. When your clients give to their chosen organizations through the Community Foundation, the Foundation handles all of the grant paperwork – administration, record keeping and financial statements. We ensure that every nonprofit organization they support is qualified as a charitable recipient and offer the opportunity to our donors to review funding proposals prescreened by our staff to help make decisions on funding these proposals. The Foundation also provides numerous opportunities for donors to pool funds, work on common interests and support local organizations. The Foundation is also equipped to accept a wide variety of assets from cash to securities, to real estate and closely-held stock.
Can charitable funds established at the Community Foundation for the Ohio Valley benefit areas other than the Upper Ohio Valley?
Our role is to help donors create funds that carry out their charitable goals, be that in the Upper Ohio Valley or elsewhere. Foundation donors have the ability to recommend grants to organizations around the world.
What is the minimum gift required to start a fund?
The minimum amount required to start a fund at the Community Foundation for the Ohio Valley is $10,000. In the case of scholarship funds, it is difficult to make substantive awards until the fund balance reaches at least $25,000.
What type of assets can my client use to start a fund?
The foundation offers a variety of ways for your clients to make donations to reach their philanthropic goals. Corporations and businesses are limited to gifts of cash, securities, closely-held stock, limited partnership interests and real estate. Individuals and families have even more options, including gifts of cash, securities, closely-held stock, limited partnership interests, bequests, life insurance policy, retirement fund accounts, real estate, tangible personal property, charitable remainder trust, or a charitable lead trust.
Click here to learn more about vehicles for giving.
What can I do to encourage my clients to be philanthropic?
Bring up the philanthropic question. Most of your clients are probably philanthropic already so helping them think through the role of philanthropy in their current financial and estate plans is a natural transition and is an important part of the overall planning process. For additional information, contact Susie Nelson (304) 242-3144 or firstname.lastname@example.org.
What services can you offer that will make my job easier?
The Foundation’s staff is trained to assist individuals and families think through their charitable goals. The Community Foundation provides a wide range of philanthropic services that help to make your philanthropy meaningful. We would welcome the opportunity to meet with you and your clients to help them determine how to make an impact with their philanthropic dollars. We become part of your team, helping your clients with current and future philanthropic endeavors. In addition to meeting with clients, the Foundation provides a range of research services and can help with customized calculations.
What are the tax advantages?
While tax considerations vary according to assets, generally your clients may deduct up to 50% of their adjusted gross income (AGI) for cash contributions, and up to 30% of their AGI for gifts of appreciated securities. Your client’s tax situation should be viewed on an individual basis to determine the deductibility allowed for them. A fund at the Foundation is often a better alternative than a private foundation.
Can my clients’ families be involved?
Yes. We encourage it. Philanthropy offers an opportunity to pass on the family’s philanthropic traditions and family values. Creating a donor-advised fund with children as the successor advisors can be one of the most powerful and meaningful gifts a parent can make. The Donor Services staff can work with your clients on the best ways to involve children and grandchildren in the joys of philanthropy through a fund at the Foundation.
What if my client wants to keep this private?
There is no better place. Your client may remain anonymous. We are not required to report his/her name to the public or through any reports required by the IRS.
What’s that contact information again?