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Frequently Asked Questions about Giving
Does Yolo Community Foundation receive funding from city,
county or state government? No. A Community Foundation is a public
501(c)(3) charitable foundation. Its funds come from donations from
individuals and organizations and from grants from private
foundations.
Who are Yolo Community Foundation's donors? Our donors are people of modest to magnificent means who want to have a lasting impact on the quality of life in Yolo County.
Who names and establishes the purposes of a fund? The donor does. Yolo Community Foundation is here to help you achieve your own personal charitable objectives.
Can a fund be established in someone's name? Yes. Establishing a fund that recognizes or memorializes a friend or family member is a unique and effective way to provide a lasting legacy. Funds are named any way you wish, so a family or corporate name can be used. Or if you prefer, funds can remain anonymous.
Are there options if one cannot afford to part with assets or income right now? Yes. Through deferred giving vehicles such as charitable remainder trusts or gift annuities, you can plan to create a fund in the future while receiving current-year tax deductions. Some arrangements may even help you increase your current income, help you diversify your portfolio, and avoid capital gains, gift or estate taxes. Of course, you can also make a bequest through your will.
What is the difference between a private foundation and a community Foundation? Community foundations qualify as a public charity 501(c)(3). This allows donors the maximum tax deduction for gifts and bequests. A single individual or family usually establishes a private foundation while community foundations are a pool of funds given by various donors for charitable purposes. A community foundation is what you would have if private foundations got together to pool their assets for investment purposes, reduce overhead, share staff, make grants, and address community needs.
Why should one choose to work with Yolo Community Foundation rather than establishing a private foundation? With a community foundation, there are no excise taxes, no payout requirements, and no excessive paperwork. As a donor, you will have access to a professional staff who can help you achieve your goals.
Is there a service fee assessed by YCF for funds established by donors? Administrative fees are assessed on all funds at the Community Foundation to help defray the costs of servicing your fund. These are annual fees, calculated on the total value of the fund during that calendar year, and assessed in January of the next year. Funds are assessed 2% each year on the total value of the fund during the year. These rates are all in keeping with the accepted standards and practices of community foundations throughout the United States.What is an endowment fund? An endowment fund is a permanent fund established within the Foundation for either specific or general purposes. Because the principal will always remain intact (only the earnings are spent for grants), the fund will always be here, supporting community programs year after year.
Does the Foundation spend an endowed fund's principal? Not unless a donor requests that we do so. Otherwise, funds are permanently endowed and will support the types of important community projects and programs stipulated by the donor well into the future.
Who decides on grants? While the YCF Board of Directors has final responsibility for all grants and scholarships, individuals with Donor Advised Funds typically participate in the grant-making process by suggesting grants from their Named Fund.
What is the Founders' Circle? Founding donors represent local supporters committed to supporting a community foundation in Yolo County. Founders' Circle members are individuals or organizations who contributed $5,000 for three consecutive years as start-up capital required by YCF until it became self-sustaining. Once a Founder, always a Founder. The names of the Founders' are prominently displayed in our materials.
What is the Sustainers' Circle? Sustainers Circle members donate $1000 each year to support Yolo Community Foundation's programs and services.
How can I get more information about starting a fund
with Yolo Community Foundation?
Please feel free to contact us via phone
(530) 312-0593, or send an e-mail to
info@yolocf.org.