Community Foundation of the Ozarks Essential Questions #5 What are Family and Community Funds?

Hosted by: Julie Leeth Vice president, Community Foundation of the Ozarks Betty Ann Rogers Nixa Community Foundation Board Member and Donor

What is a Family and Community Fund? Small Donor Advised fund Simplifies charitable giving

How is a F&C Fund Established? Establish with $2500 charitable donation and a fund document indicating who the donor advisors will be.

Then what? Recommend grants to charitable organizations (501c3, governmental entities, faith based organizations and educational entities.) Add to the fund at any time and build into a donor advised fund or spend down to $0.

Key Reasons to Establish a F&C Fund Simplify Tax Records- One check can take care of an entire year of charitable giving. A tax letter can then be given to an accountant or financial advisor.

Key Reasons, con’t Exceptional Fund Management- Quarterly reports to donors. Charitable opportunities for collaboration with other donors

Key Reasons, con’t Access to Resources- Access to Educational resources, and Foundation sponsored events.

Key Reasons, con’t Help strengthen an important regional effort.

Steps to Create a Family & Community Fund Contact CFO or a Regional CF and set up a preliminary meeting to define charitable goals.

Creating, cont Establish a fund. Decide who will serve as advisors for the funds.

Creating, cont. Name your fund.

Creating Con’t. Seed your fund with cash, real estate, securities, and other appropriate options.

Creating, con’t Recommend grants to any public charity. (Donor Central)

Questions, Answers, and Suggestions?

Thank you! Our next presentation will be held on March 27th at 10:00 a.m. This presentation will be titled “What Are The Advantages Of Having Scholarships With The Community Foundation?” and will be hosted by CFO scholarship coordinator Gay Lynn Russell and CFO Vice President Julie Leeth. Please contact Bridget Dierks at bdierks@cfozarks.org to enroll.