10.10.2008
CACF Fund Types
The Foundation offers a variety of fund options that are administered as permanent endowments. Gifts to the Foundation are invested for long-term growth with the income and a portion of the appreciation used to make grants. The types of funds administered by the Foundation include:
A donor’s contributions to this fund provide the broadest giving option by allowing the Foundation’s Board and staff the flexibility to address pressing community needs.
A fund established to provide scholarship assistance to individuals. Each scholarship fund in CACF has a committee, which reviews proposals periodically and makes award suggestions to CACF's Governing Board.
A highly flexible fund for those wishing to be actively involved in the choice of grant recipients. Through this fund a donor may assist charities in this community and throughout the U.S. It is an excellent alternative to a private foundation, with comparable or superior tax benefits.
Donors select a general interest such as the environment, youth, or the arts, and the Foundation helps by finding organizations that fit their criteria. This gift will continue to benefit future generations in the community.
Charitable organizations serving the Charlottesville area may create endowment funds within the Foundation as a means of protecting and building their funds for the future. The Foundation undertakes all administrative and reporting details for effective investment and efficient management of the endowment.
A donor may create a named fund within the Foundation dedicated to goals that were important to a deceased individual, or in honor of a living person.
Making a planned gift through the Charlottesville Area Community Foundation can accomplish two important goals. First, planned gifts can help support worthwhile charitable causes, and second, these gift arrangements offer significant financial and tax advantages to donors.
Our goal is to increase the Vision Fund Endowment so that 100% of our unrestricted dollars are available for grantmaking to local nonprofits.
Several groups of individuals have donated money to CACF to create this kind of fund. Once the fund is established, the group may make recommendations about disbursing funds to local nonprofit organizations.
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