FAQ

What types of funds do you administer?
We offer a variety of fund options, including: unrestricted funds, designated funds, scholarships, donor advised, committee advised, field of interest, organization endowment, charitable unitrust, community service/nonprofit support and Build A Fund.

Why do donors establish funds at the Foundation instead of giving directly to their favorite charities?
Although some donors want to give directly to a particular organization, many are more comfortable giving through us because of our permanence, professional investment management, and oversight role in ensuring that their wishes are met by the recipient organizations.

How much control and freedom would my client have in recommending gift recipients—such as their church, synagogue or other faith-based organization—through their donor advised fund?
Your client can recommend a grant to any qualified 501(c)(3) organization, as well as schools, places of worship, and municipalities. We ensure that groups recommended for a grant meet this requirement. Due to federal tax laws, we must reject grant recommendations that would benefit a specific individual, fulfill a personal obligation or support a political campaign or private foundation.

Can I recommend grants to charities outside of Mason County?
We are focused on the needs of Mason County, but we allow grants from donor advised and designated funds to any 501(c)(3) nonprofit in the U.S.

What is the minimum gift required to start a fund?
In most cases, the minimum for establishing a fund with us is $10,000. Scholarship funds require a minimum gift of $25,000. You can also create a Build A Fund and make periodic contributions until your fund reaches the desired amount.

What type of assets can I use to start a fund?
We accept a range of assets including: cash, stocks and bonds, real estate, personal property such as jewelry and artwork, life insurance policies and IRA assets. Contact us for a copy of our Gift Acceptance Policy.

How do the Foundation’s fees compare with those of commercial gift funds and private foundations?
Our fees are competitive with commercial gift funds and considerably less expensive than starting a private foundation. They support the work we do, and we provide expert, personal service with local knowledge of our shared community. We handle all administrative tasks, including filing annual tax returns, performing due diligence on grants, and all details associated with processing and tracking grants—and there are no setup fees. We offer all the options of a private foundation, but without the hassle and extra cost.

Can I get my money back if I change my mind?
Gifts to the Community Foundation are irrevocable. The decision to partner with us is a serious one and we encourage potential fundholders to discuss their intent with their financial or legal advisors.

Can I make a gift to the Foundation and retain income for myself or a family member?
We offer several opportunities to make life income gifts and we’re happy to work with you and your professional  advisors to determine which type is right for you.

Can my children or other family members get involved?
If you choose a donor advised fund, you may name co-advisors and successor advisors to continue guiding the fund now, and in the future.

What is your donor confidentiality policy?
Donor information is highly confidential. The Foundation does not share donor names, addresses or fund-related financial information with any individual or organization without express permission from the donor.

Why should I discuss charitable giving with my clients?
The following are just a few of the many reasons it’s important to discuss giving with your clients.
Many clients are seeking a way to express gratitude or appreciation for places and causes they care about.

• By making it easy to give, you serve your community as well as your clients.
• Helping clients give can create a bond, making you a positive stakeholder.
• You expand your areas of professional expertise.
• Clients you assist in giving may be motivated to refer new clients to you who want to do the same.
• You become part of a supportive network of like-minded colleagues willing to share their time and expertise.

What are the advantages to working with the Community Foundation?
As members of the community, we know local issues and leaders, and how to bring government, community and nonprofit players together in meaningful ways. Using us as a resource for giving makes everything simpler and easier for you and your clients. Our purpose is to provide support and expertise, so we can work entirely in the background or we can attend every meeting with you—it’s up to you and your client.

The Community Foundation is a cost-free resource for charitable and estate planning and we’ve been working with professional advisors since 1985. When legislative or tax changes impact your clients, we’ll keep you informed.

How do I know if giving through the Community Foundation is right for my clients?
If any of the following points describe your clients, they may benefit from knowing more about the Community Foundation. We’d be happy to help you introduce them to our work.

• Care deeply about the local community
• Contribute to more than one charitable cause
• Want to create a legacy in the community for their family or themselves
• Have IRA Required Minimum Distributions they don’t need and would like to avoid taxes
• Have an interest in forming a private foundation, but are concerned about cost and administrative complexity
• Desire a say in how gifts are used
• Expect sound financial management for gifts, as well as maximum tax benefits

What are the tax benefits to my client?
We offer the maximum charitable tax advantages available by law. The Community Foundation is not subject to the taxes and regulations affecting private foundations, and we have greater flexibility on matters such as minimum payout, so more money goes toward the cause.

What types of funds do you administer?
The Community Foundation offers a variety of fund options, including funds for the community (unrestricted), designated, scholarship, donor advised, committee advised, field of interest, organization endowment, and community project funds. We also offer charitable gift annuities for clients interested in providing much-needed support to their community while receiving guaranteed payments for life.

How can I recommend a charitable gift without recommending a specific nonprofit?
If you want to discuss the many benefits of charitable giving with your clients without recommending specific causes or organizations, the Community Foundation is a simple solution. A community foundation provides a single, trusted place where clients can address issues they care about, while gaining the maximum tax benefit under state and federal law. We offer many giving options, including the ability to set up a fund in your client’s name. Clients can suggest grants to the nonprofit of their choice each year, or select one or more organizations to give to, perpetually.

Why do donors establish funds at the Community Foundation instead of giving directly to their favorite charities?
Many donors do both, giving directly to nonprofits to provide current operating support, and giving to us to provide long-term sustaining support through endowment. The Community Foundation offers permanence, professional investment management, and oversight in ensuring that their wishes are met by the recipient organizations.

How can my client provide support for a favorite charity through the Community Foundation?
Your client can support a favorite charity through a donor advised fund or a designated fund, as well as by adding to that organization’s endowment fund if we have it. We handle all of the administration, recordkeeping, and financial statements for both options. With donor advised funds, donors have ongoing flexibility to recommend which organizations and programs receive grants. Designated funds provide endowment funding for specific nonprofit organization(s) and can be set up to allow building of the fund over time.

How much control and freedom would my client have in recommending gift recipients—such as their church, synagogue or other faith-based organization—through their donor advised fund?
Your client can recommend a grant to any organization that falls within the broad mission of the Community Foundation and is qualified as a public charity under Section 501(c)(3) of the IRS code.  We ensure that groups recommended for a grant meet this requirement. Due to federal tax laws, we must reject grant recommendations that would benefit a specific individual, fulfill a personal obligation or support a political campaign or private foundation.

Can my client recommend grants to charities outside of Mason County?
We are focused on the needs of Mason County, but we allow grants from donor advised and designated funds to any 501(c)(3) nonprofit in the U.S.

What is the minimum gift required to start a fund?
Strategic Funds can be started for $5,000 or built up with annual $500 gifts over 10 years. Strategic Funds support one of our strategic grantmaking priorities:

• Workforce and Learning Readiness (Education)
• Economic Development (Workforce Supports)
• Community Development (Recreation and Quality of Life)
• All of the Above! (Funds for the Community)

Scholarship funds require a minimum gift of $25,000; they can be built up with annual $5,000 gifts over 5 years.

All other permanent funds start with $10,000 and can be built up with annual $2,000 gifts over 5 years.

What type of assets can my client use to start a fund?
We accept a range of assets including: cash, stocks and bonds, Qualified Charitable Distributions from IRAs (cannot go to a Donor Advised Fund), real estate, personal property such as jewelry and artwork, life insurance policies and retirement account assets.

What does it cost to start a fund?
Nothing. Starting a fund is free of cost. Our annual fee structure depends on the type of fund and ranges from 1% to 2%. Fees are deducted from the fund, and they support our overall operations.

How do the Foundation’s fees compare with those of commercial gift funds and private foundations?
Our fees are highly competitive with commercial gift funds and considerably less expensive than starting a private foundation. We handle all administrative tasks, including filing annual tax returns, performing due diligence on grants, and all details associated with processing and tracking grants—and there are no setup fees. We offer you all the options of your own private foundation, but without the hassle or extra cost.

How do I broach the subject of giving with my clients?
Although giving may be an essential part of any financial plan, there are times when you may need some recommendations on the best ways to begin that discussion. Just give us a call. We can provide a variety of suggestions on how you can get that conversation started.

What is your donor confidentiality policy?
Donor information is highly confidential. We do not share donor names, addresses or fund-related financial information with any individual or organization without express permission from the donor.

Who is eligible for grants from the Community Foundation for Mason County?
We award grants to nonprofit, tax-exempt organizations serving Mason County that have been determined by the IRS to be 501(c)(3), schools, religious institutions, and governmental units.

My organization is not a 501(c)(3).  What should I do?
We recommend you seek a fiduciary partner with a qualified grantee.

When are grant deadlines?
We have two competitive grant rounds per year and information regarding our grant application process along with grant deadlines can be found here.

What are the Foundation’s grant making priorities?
For grant application guidelines and more information about the Community Foundation’s priorities for awarding grants, please visit the Grants section of our website.

How much can I apply for?
We will discuss the appropriate level of funding for your project with you before you apply, as grant amounts vary widely based on the type of grant and impact of the project. You can view past awards here.

How do I apply for a grant?
Begin by reviewing the Grants section of our website to learn about open opportunities and grant priorities. If you have further questions, you can contact our executive director.

When will I hear the results of my grant application?
All grant processes have different timelines for decision – award dates are typically listed with each Available Grant.

Can my organization apply for grants from donor advised funds?
We do not accept applications for specific donor advised funds, which are advised by individuals or families. However, we do bring funding ideas to the attention of these donors through our Grant Catalog and Community Wish Lists.

Does the Foundation fund faith-based organizations through its competitive grant process?
We award grants to faith-based organizations for programs that serve the broader community, regardless of faith affiliation or beliefs. We will not award competitive grants for inherently religious activities.

Does the Community Foundation award grants to individuals?
No. Individuals should review our Scholarship page to learn about the awards available to support individuals on their educational journeys.

How often can I apply for a grant, and how many applications can I submit?
We encourage only one application per organization per grant round, as additional applications would be competing for the same funds.

Who decides which applications are awarded grants?
Our board grant committee, with staff support, review requests for funding and then present recommendations to our Board of Trustees for final approval.

Who is eligible for scholarships from the Community Foundation for Mason County?
To be eligible, you must live within the Mason County school district boundaries and attend a Mason County School. We welcome applications from U.S. citizens, permanent legal residents, or DACA.

Can I still apply for scholarships if I am enrolled in the Mason County Promise?
Students who are Promise eligible are encouraged to apply for a Community Foundation scholarship. If you are a Promise recipient and also receive a Community Foundation Scholarship, your scholarship dollars will be sent back to you and you may use those for additional college expenses or save for your remaining higher education.  Details on Promise eligibility can be found here.

How can I use my scholarship?

• Scholarships are paid to accredited institutions and divided equally between the terms of the academic year.
• The scholarship award is used toward the cost of tuition, fees, room and board, books, or other educational expenses the student may incur.
• While many scholarships are for specific types of students, colleges, or fields of study, the Community Foundation’s process is a “general application.” One application allows you to apply for the hundreds of scholarships facilitated by the Community Foundation.
• Each individual application is reviewed and matched with the best-fitting scholarship source.

How do I renew a multi-year scholarship?
If you received a multi-year scholarship in the previous year(s), you must submit an unofficial transcript of your fall grades with your renewal application by March 31. You will be contacted by our scholarship staff in January. Not all scholarships are renewable.