Chester County Community Foundation
Let Your Legacy Make a Difference
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common objections to overcome...
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version of the following information:
| Objection: If I start a fund at the Community Foundation, then…. | Fact |
| …I can’t make grants anytime or anyplace I want to. |
Yes you can, as long as they’re legitimate charities. Staff checks to make sure the charities are legitimate. The Board ratifies grants. If the charities aren’t legitimate, the IRS wouldn’t let you make them from a private foundation or commercial donor advised fund, either. |
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… I (or my money manager) can’t invest my money anymore. |
Donors with over $250,000 can have their investment manager considered for an equal part of the CCCF portfolio. High performers who exceed benchmarks will be considered for more. (This level is under consideration and may be reduced to $100,000.) Donors with over $5 million can be considered for support organization status, which means they can control their own investments separate from CCCF if they wish. |
| …I can’t get my money back if I change my mind. |
True. Your gift legally becomes Community Foundation property, and you receive a charitable contribution from the IRS. But you couldn’t get your money back if you used it to establish a private foundation or commercial donor advised fund, either. |
| …I can’t move my money someplace else if I’m dissatisfied. |
True. If you’re dissatisfied with the Community Foundation’s performance, then the solution is to get involved on a Committee and/or on the Board, and make a positive difference so that more people are satisfied. You couldn’t move your money from a private foundation—although you could turn over the assets to another charity and dissolve the corporation; and you can’t move your money from a commercial donor advised fund, either. |
| I simply don’t want anyone else involved with my philanthropy. I want to manage my own money and make my own grants all by myself (or have a family or friend do it.) | OK. Then you should do that. If you’d like to be part of the Chester County Funders group that the Community Foundation convenes of private funders, it’s an open invitation so you can learn more about Chester County community issues. |
Upcoming Fund Activities and Events
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At CCCF
It is easier than you think!
A tax-deductible fund or foundation can be established in a single meeting.
To Donate Online
Click here
To Donate Via United Way
Click here for designation information.
To Donate Via Stock or Electronic Bank
Transfer
click
here for the form. Contact (610)
696-8211 or
info@chescocf.org for DTC/Account #’s.