Below is a list of common questions about the Community Foundation of Southern Indiana. If you have additional questions please contact Kenton Wooden at (812) 948-4662.
What is the Community Foundation of Southern Indiana? What do you do?
The Community Foundation is a nonprofit that helps people just like you support all of your charitable interests by helping you create a customized, personal fund. It’s easy, and all of our endowed funds are carefully invested to ensure your generosity will last for generations.
How is the Foundation different from a private foundation?
Private foundations have one donor who puts the money in, and directs how and to whom grants are distributed. One fund with one donor’s intention. The Community Foundation is a collection of over 230 funds, each with its own unique purpose, and our job is to oversee and administer each of those funds in accordance with the donor’s intent. And, tax laws are more favorable to community foundations.
How is the Foundation different from other NPOs?
While most nonprofits are very specific, mission-driven organizations, the Foundation’s mission is broader – we’re here to help you support whatever causes are important to you. We can help you support all of your charitable interests, whether they are health and human services, arts and culture, the environment, education or religious causes. You’re able to make one gift and support many causes.
Why should someone give through the Foundation?
We can craft your unique charitable fund in a way that it will forever honor your charitable intent. You can do much more through a fund here than with an outright donation towards a single mission. And leaving your lasting legacy through a fund at the Foundation is simple and impacts your favorite causes for generations.
Why does the Community Foundation charge fees?
An administrative fee is nothing more than an investment you’re making in the Foundation that allows it to administer your fund and support the work we do for our community. Your fee allows us to: provide a tax deduction, insure compliance with ever-changing laws, provide transparent fund accounting, process gifts and grants, provide community leadership, and manage endowment investments. Unlike when you invest with a large, national company, your fee stays here in the community. We know the needs of this community and you help us provide leadership and support on important local issues and we work every day to ensure your fund does what you want it do. And that’s a wise investment!
How does the Foundation invest the funds?
The Community Foundation uses a professional investment manager who abides by our investment policy and commitment to our donors that their funds will last in perpetuity. We invest your endowed funds in a manner designed to keep pace with inflation and allow the fund to grow over time – 10, 50, 100 years from now, your fund will be providing a growing stream of revenue for your favorite causes.
What are the minimum amounts for setting up a fund at the Community Foundation?
The minimum amount to establish a donor-advised fund can be as small as $1,000. The minimum investment to establish an endowed fund is $15,000. Please see the Types of Funds page for more detailed information on funds.
How quickly can a fund be set up?
Generally, we can set up a fund in a few days. Depending on the type of asset being gifted, or the complexity of the gift arrangement, the timeframe may be longer. It’s always best to contact Linda Speed at (812) 948-4662 to determine the timing that may apply in your situation, particularly at year end.
Can my family get involved in my charitable giving through the Foundation?
Absolutely! Children, grandchildren, siblings or other trusted family members or individuals may be named to the fund’s advisory committee. When the advisory period ends, the fund will perpetually support your specific charitable interests
Can I make anonymous gifts through my fund at the Foundation?
Yes, all grants can be made anonymously, or you can request a specific grant be made anonymously on occasion.
Do all grants from my fund have to be used in Southern Indiana?
No, grants from a Foundation fund may be made to any 501(c)3 public charity, church or school in the United States.
What services does the Foundation provide?
The Foundation staff provides all the planning to help you create your fund, including drafting the fund agreement that governs the terms and conditions of your gift. All IRS reporting and fund accounting, as well as performing the required due diligence on your requested grants, is provided. If desired, we can also provide you with information on area non-profits, causes, and issues that you want to learn more about. All of these services are covered by the Foundation’s basic administrative fee.