Quick Facts and Questions Answered
Quick Facts and Questions Answered About the Foundation
Incorporated as a 501 c (3) public charity in 2000
Tax ID # 68-0472056
Assets as of March 31, 2017: Approximately $1,173,000.
Number of funds managed by the Foundation: 38
Number of scholarships administered by the Foundation: 7
Number of paid Foundation employees: none
The Foundation is managed by an all-volunteer Board of Directors who serve three-year terms. The by-laws require a minimum of eleven Board members and a maximum of fifteen.
Funding disbursed since inception: Over $1,400,000
1. Is a community foundation a new kind of charity?
No — but you might think so, because of its growing popularity in recent years. In fact, the first community foundation was established in Cleveland in 1914. The Calaveras Community Foundation was established in 2000. Today we join a field of more than 700 community foundations across the United States, with combined assets of approximately $45 billion.
2. Who sets up funds at the Foundation?
Most funds managed at Calaveras Community Foundation are set up by groups, families or individuals. What these people have in common is a desire to give back to their community — whether it’s protecting the environment, honoring the memory of someone they loved, setting up a scholarship fund to help students in need, supporting local arts organizations, or funding any other charitable cause imaginable.
3. What are the advantages of donating to Calaveras Community Foundation?
There are many reasons to give through Calaveras Community Foundation. The Foundation allows groups, families and individuals to establish a customized charitable fund without being burdened by the tax liabilities and administrative hassles associated with setting up a private foundation. Everyone who creates a fund can personalize their giving. At the same time, funds are pooled for investment management purposes to minimize costs and achieve a greater return, making it possible for a smaller individual fund to enjoy the same economies of scale as a large independent foundation.
4. What is the difference between setting up a private foundation and creating a donor advised fund at the Calaveras Community Foundation?
Creating a private foundation subjects you to a number of regulatory requirements, such as undertaking an exemption application to the IRS, as well as ongoing administrative and fiduciary responsibilities, reduced charitable deductions and a lack of privacy. Calaveras Foundation makes philanthropy easy. We are a public charity, so the regulations, taxes and administrative requirements required to establish and manage a private foundation do not apply to us. The Foundation provides several cost-effective alternatives to private foundations.
5. What is the difference between setting up a gift fund through my investment firm and establishing a fund at Calaveras Community Foundation?
At the Calaveras Foundation, we provide much more than the check writing services of a gift fund at a brokerage house. One of the most significant advantages to setting up a fund with us is our commitment to donors. We provide custom research on nonprofit organizations or issue areas at your request. We will also meet with you individually to help develop a strategic approach to grant making. If you are interested in learning more about these personalized services, please contact us.
6. What kinds of assets can be used to set up a fund at the Calaveras Community Foundation?
One of the distinct advantages of working with a community foundation is our flexibility. As a general rule, a community foundation can accept any type of asset as long it is marketable and is not encumbered by an unusual liability. Most often, funds are started with a gift of cash, real estate or publicly traded stock – but the Foundation may accept gifts of artwork, closely held stock, intellectual property or other assets.
We’re Here to Help Our Community! If you have more questions about our programs, grant making, and donor services, please contact us.