Frequently Asked Questions

What is a community foundation?

A community foundation is a flexible collection of funds that makes grants to support charitable organizations and causes.  They provide a simple, powerful and highly personal approach to giving. Community foundations go beyond simple grantmaking – they also identify current and emerging issues, help their regions prepare for the future and create lasting good work in their communities. There are more than 700 community foundations across the United States.

 

What is the advantage of a community foundation over a private foundation?

A fund at the Community Foundation for Northeast Georgia is generally less costly, in terms of both time and money, to establish than a private foundation. CFNEG can help you establish a fund in a matter of days and handles all the administrative details. Establishing a private foundation can take months or longer, and you are responsible for substantial legal, accounting and operational matters.

 

Why would I establish a fund at The Community Foundation for Northeast Georgia instead of making donations directly to the charities themselves?

 

  • Flexible giving. When you create a Community Foundation fund, you have the flexibility to support multiple charitable organizations with a single gift, and the Foundation can accept a wide variety of assets, from cash and securities to real property and closely held stock.
  • Timeliness. You can make your gift to the Foundation when it is most tax-advantageous, and retain the ability to recommend grants to support your favorite causes at a later time.
  • Efficiency. The Foundation handles all of the administration, record keeping, and financial statements for your charitable giving.
  • Anonymity. You have the option to make all of your grants anonymously, or on a grant-by-grant basis.
  • Permanence. You may want to provide ongoing support to a particular organization in perpetuity. You can easily do this during your lifetime – and beyond – through an endowment fund. Our professional staff is dedicated to making sure your charitable wishes are met.

 

What kind of assets can I contribute?

CFNEG can accept a wide variety of assets, from cash and securities to real property and closely held stock.

 

Can other people contribute to the fund I establish?

Yes, anyone can contribute to a Community Foundation fund, and most contributions are tax-deductible. We recommend you consult your tax advisor or accountant for the most current information available.

 

Can my children or other family members get involved?

Yes, if you choose a donor advised fund, you may name other advisors to continue to guide the fund both while you are involved and far into the future.

 

Is there a minimum amount for grant distributions?

Yes, each grant must be at least $250.00

 

Can you help me identify charitable organizations or causes to support?

Yes, our professional staff members are available to work with you to help you define your charitable priorities, both now and in the future. We can also research an area of charitable interest or a specific nonprofit organization on your behalf, and even set up a personal visit, if you wish.

 

Do all grants have to be used locally?

No, grants may be made to any 501(c)(3) public charity, church or school in the United States.

 

How long does it take to create a fund at the Foundation?

Generally, we can create a fund in a few days. It’s always best to contact us to determine the timing that may apply in your situation.

 

What types of charitable funds do you administer?

Agency
Endowments
Donor advised
Field-of-interest
Designated
Unrestricted
Scholarship

 

What is the minimum amount required to establish a named fund?

Unrestricted Community Fund: $5,000

Donor Advised, Field of Interest, or Designated Fund: $5,000

 

How do I get started?

Check out our tips on how to create a fund, or contact a member of our staff.

 

Can the Foundation provide information about worthwhile projects and organizations to support? 

Yes. The Community Foundation’s professional staff is available to help you with grantmaking decisions.

 

What is the Foundation's policy around donor confidentiality?

CFNEG maintains the highest level of confidentiality with respect to donor information.  We will not share donor names, addresses, or fund-related financial information with any individual or organization outside the Community Foundation without express permission from donors.