A Donor-Advised Fund is a charitable giving account created by an individual, family or business and is used to support charitable causes recommended by the donors and their successors. This option provides great flexibility for giving during your lifetime and allows you to leave the gift of philanthropy to the future.
A fund may be classified as donor advised if it has at least three characteristics:
(1) a donor or person appointed or designated by the donor has, or reasonably expects to have, advisory privileges with respect to the fund’s distributions or investments,
(2) the fund is separately identified by reference to contributions of the donor(s), and
(3) the fund is owned and controlled by a sponsoring organization, such as a community foundation.
A fund possessing these characteristics may be exempt from the donor advised fund classification if it grants to one single public charity or government unit or if the fund meets certain requirements applicable to scholarship funds.
Field of Interest Funds allow donors to focus their charitable giving toward a specific area of interest, while JCFs expertise determines the most effective organizations completing the best work. This type of fund allows donors to work closely JCF and the Fund Advisory Team to identify organizations that are making the greatest impact in the area of your choice.
Jefferson Community Foundation (JCF) currently holds five funds that are that is used for a specific charitable purpose, including:
Donors with strong ties to a particular organization may want to establish a Designated Fund.
A type of restricted fund in which the fund beneficiaries are specified by the grantors. The donor “designates” one or more charitable organizations that the fund will support during and after his or her lifetime.
Other donors are welcomed to contribute as well. If the beneficiary organization ceases to exist, the gift can be redirected to support an organization with a similar mission.
Giving Circles are groups of neighbors, friends and/or family members who pool their charitable donations and decide together where to commit them. The work of the Giving Circles is not only to write a check, but also to help people learn about philanthropy, about the needs of their community and about local nonprofits.
JCF currently holds four Giving Circles, including:
The dues, size, structure and mission are each different and are decided upon by the participants themselves. Jefferson Community Foundation plays a supportive role in the start-up and support of each Circle.
An endowment is a permanent fund. Endowment funds are pooled for maximum benefit and invested to achieve long-term capital growth. Contributions are irrevocable and become assets of The Foundation.
Key things to know:
Non-endowment funds have no permanent principal balance and are immediately available for grant distribution. An advised non-endowment fund can become an endowment fund at any time upon request.
Some donors maintain both an endowment fund and a non-endowment fund, allowing them to regularly transfer monies from the non-endowment fund to the endowment fund to help build a balance upon which gifts can be provided in perpetuity.
An unrestricted fund is one that is not specifically designated to uses by the donor, or for which restrictions have expired or been removed.
Assets or income that is restricted in its use, in the types of organizations that may receive grants from it, or in the procedures used to make grants from such funds.
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EIN: 841682682Phone: (360) 385-1729
Mailing Address:PO Box 1394, Port Hadlock, WA 98339
Physical Location:63 Julian Street, Glen CovePort Townsend, WA 98368off Fredericks Street in Glen Cove