ANSWERS TO QUESTIONS YOU MIGHT LIKE TO ASK

What is a Community Foundation?
A community foundation is a non-profit, public charity, organized as a collection of funds whose income is used for grants to charitable institutions primarily serving the community in which the foundation resides. The funds — established by individuals, corporations and charitable institutions — are pooled for investment purposes and are managed by a Board of Trustees selected for their integrity, sound judgment, and knowledge of community needs.

Since the first community foundation, founded in Cleveland, Ohio, in 1914, more than 400 community foundations have been created across the United States, with assets in excess of ten billion dollars.

Who administers the Columbus Community Foundation?
An administrative board of nine volunteers chosen for three year rotating terms. They are actively involved and interested in the community.

May I name a Fund in the Columbus Community Foundation?
Yes. Most funds bear the name of the donor or a person to be memoralized; others are named for the Fund's purpose. Or you may choose a name that maintains anonymity.
 
 
CHOOSE THE FUND THAT SUITS YOU
You can establish a fund in your own name or in the name of someone you love. Almost any charitable purpose can be served through a variety of funds. Most funds are managed as perpetual endowments which means only the net income — no principal — is regularly disbursed. Other funds disburse principal at the suggestion of the fund's advisors.

Here are the four types of funds the Community Foundation administers:

UNRESTRICTED FUNDS provide money that is awarded in grants by the Foundation's Board of Directors. It is a flexible way to meet a broad range of community needs, as determined by the Foundation.

FIELD OF INTEREST FUNDS are tied to a general area of interest and not to a specific organization. We use your suggestions and other criteria to choose grant recipients.

DONOR ADVISED FUNDS allow you or your representatives to suggest what charitable cause should receive money. The recipients of donor advised funds can represent the individual donor's interest in that they are not restricted to a specific geographical area. However, by law, the Board of the Foundation must make the final choice.

DESIGNATED FUNDS allow donors to designate payment at the time of the gift to a named charity, agency, or specific project.

Remember we encourage gifts of all sizes.

 
 
HOW TO MAKE YOUR GIFT

To make a contribution, call the Columbus Community Foundation, or talk with your lawyer or financial advisor for additional information. You can make a contribution through the Community Foundation with:

OUTRIGHT GIFTS are a simple, convenient way to donate and receive maximum tax advantages. Money, securities, personal property or real property are the usual gifts.

BEQUESTS of cash or property through a will are usually fully deductible for federal and state tax purposes. The Foundation also can be named as the residuary beneficiary of a donor's estate or can be named in a charitable remainder trust created by the will.

LIFE INSURANCE with the Foundation as the irrevocable beneficiary of a life insurance policy, allows donors an immediate tax deduction in the amount of the cash value of the policy. Insurance premiums paid thereafter by the donor are deductible as a charitable gift.

MEMORIALS to the Foundation made in memory of deceased persons or in honor of living persons are generous testimonials. Creations of a memorial fund in the Columbus Community Foundaton also can be a means of achieving permanent memorialization.

CHARITABLE LEAD TRUSTS name the Foundation as the beneficiary of income for a trust for a specific number of years. The corpus, or bulk of the trust, eventually goes to other named beneficiaries, such as children or grandchildren.

CHARITABLE REMAINDER TRUSTS enable the donor to provide a lifetime income to themselves or beneficiaries and leave the remainder of the estate to the Foundation.
 
 
START A FAMILY TRADITION

"...The most useful and influential people (in America) are those who take the deepest interest in institutions that exist for the purpose of making the world better."

Why not establish your own charitable fund in the Columbus Community Foundation and let it make gifts in your family's name to help our community in perpetuity? The Foundation offers you unique flexibility to meet your traditional charitable interests.

You don't need a great deal of money, in fact, you may not need any cash at all. If you have stock that has increased in value or real estate or a (no longer needed) life insurance policy, you can use it to get started. In most cases, you'll receive a tax deduction equal to the full current value of your gift and you will not be subject to any capital gains tax. You will also reduce your estate tax later because you have removed the item from your estate. (Note: Always check your own situation with your financial advisor.)
 
 
MEMORIAL FUND

The days following the death of a friend or associate are never easy, but there's a simple way of letting family members know you want their loved one remembered forever.

By giving through a "Memorial Endowment Fund", you can appropriately memorialize someone and help the Columbus Community Foundation at the same time.

Your gift to the Foundation will be held in perpetuity by the Columbus Community Foundation. Only the earnings will be used to enhance the quality of life in the community.

When you make a memorial endowment, the Columbus Community Foundation will send an acknowledgment letter (donation amount omitted) to the person or persons you request, telling them of your thoughtfulness. You will also receive a receipt for your personal records.

In addition, the name of the person you have memorialized will be entered in the Foundation's Memorial Records.
Columbus Community Foundation, Inc.
P.O. Box 47, 101 East Elm
Columbus, Kansas 66725
(620) 429-3107
foundation@columbus-ks.com