Establishing a Fund

A fund at The Community Foundation of West Chester/Liberty gives you flexibility with your philanthropy. You can be as active as you wish and support the issues and organizations that matter most to you. 

• Gifts from your fund will be made in your name or the name you choose for your fund. You may also give anonymously and the Community Foundation will act on your behalf. 
• You receive immediate tax benefits, but can give over time.
• Your assets grow through investment, allowing you to give more.
• You can endow your fund as a legacy in perpetuity, benefiting your chosen cause or organization for years to come. 

A fund at The Community Foundation of West Chester/Liberty allows you to give to specific organizations, make gifts over time, recognize you and your family or give anonymously, and grow your charitable dollars through investment—without the administrative burden and expense of a private foundation.

Contact

Erin Clemons, president & CEO  -  erin.clemons@wclfoundation.org or 513.682.8062 

Types of Donor Funds 

Field of Interest Fund - You direct funding to specific causes (the environment, youth programs, the arts) or geographical areas (a town or county) that you feel strongly about, yet it does not restrict grants to any one particular organization. Field of Interest Funds support issues or areas that are important to you in perpetuity.

Designated Fund - You support one or more particular charitable organizations or institutions. A Designated Fund may help a single theatre, a food bank, a school, etc., during your life and, if you choose to endow, after your death. If a beneficiary organization ceases to exist, loses its tax exempt status or changes its mission, the Foundation redirects support to a similar organization to honor your original intent.

Scholarship Fund - You establish an educational scholarship for a specific interest or school. Scholarships can support any level of education, and may be directed toward students who are graduates of a particular grade or high school, students planning to attend a particular secondary or post-secondary school, students in a particular field, or students from a certain geographical area, etc.

Donor Advised Fund - You take a more active role in your grant making (whether local, national or international). A Donor Advised Fund provides maximum flexibility for your grant making, allowing designated advisors (named by you) to make recommendations regarding grants from your fund. The Foundation facilitates compliance with financial, legal and tax requirements, as well as helps develop grant making strategies, articulates funding guidelines, and conducts due diligence relieving you of the administrative responsibilities associated with charitable giving. If you wish, the Foundation helps you identify additional organizations that you might consider supporting.

Agency Funds - Agency Funds are established by organizations to support their ongoing mission with fundraising and administrative support from the Community Foundation. With an endowed fund, the Community Foundation holds assets for the organization and makes distributions to cover programming, operational support and other needs helping to build a steady stream of income for the organization's future. 

Ways to Give

A cash gift is tax deductible as provided under current law.

Donations of appreciated publicly-traded securities are accepted. This type of gift avoids capital gains tax and allows the maximum tax deduction for the full market value of the gift. The Foundation also accepts  closely-held stock  and limited partnership interests. 

A bequest in your will is a simple way to leave a lasting legacy.

A  life insurance policy can be changed to designate the Foundation as the owner and/or beneficiary of a policy.

Retirement fund accounts are often your largest asset. You can give all or part of these assets to the Foundation, both during your lifetime and/or at your death.

Real estate can be donated to the Foundation and deducted at full fair market value, up to 30 percent of your adjusted gross income. The Foundation sells the real estate and the net proceeds capitalize a new fund or are added to an existing fund. Similarly, tangible personal property  can be donated to the Foundation, which is also then sold.

A charitable remainder trust allows you (or other named beneficiaries) to receive lifetime income. Upon your death, the remaining principal creates a fund at the Foundation. You receive an immediate charitable deduction for a portion of the gift and avoid capital gains tax.

A charitable lead trust creates income for the Foundation for a specified period, after which the remaining principal is distributed to named beneficiaries. Gift and estate taxes are reduced with this type of gift.

A charitable gift annuity is a way to make a gift to the Foundation, and still receive an income for yourself or others. A donor agrees to contribute cash, stock or other assets to the Foundation, and in return, receives a fixed annuity payment for life, plus tax benefits. At the death of the donor, a portion of each annuity gift is used to create a charitable fund at the Foundation.

Transfer of a private foundation  affords you many advantages, including lower overhead, staff to assist with your charitable goals, and a higher tax deduction for any future gift, to name only a few.