Committee Advised Funds - Story County Community Foundation | Grants & Tax Credits

Committee Advised Funds

Insert picture hereCommittee Advised Funds held at the Story County Community Foundation:

  • Leadership Ames Endowment Fund  To donate, click here
  • McCallsburg Legacy Fund  To donate, click here
  • Story County Community Giving Circle Fund  To Donate, click here

Committee Advised Funds

If your group wishes to support non-profit, charitable organizations and needs a structure to support your philanthropic goals, a committee-advised fund can provide accounting and legal services and allow you to focus on fund-raising and making grants and gifts. 

Establishing a Committee Advised Fund is

  • Distinct:  You can establish a Committee Advised Fund in the name of your group or organization.

  • Enduring: Members of your organization will make grants from your fund now and in the future.

  • Flexible:  Add to the fund at any time.  The Story County Community Foundation can accept donations of almost any asset including cash, stock and real estate.  

  • Efficient:  Your group benefits from the most advantageous tax treatment for a charitable gift, and the Community Foundation handles the administrative details.

Who should establish a committee advised fund?

A Committee Advised Fund is ideal for groups who:

  • Want to establish a spirit of giving within their organization and allow future members to continue granting to charities the group supports.

  • Do not have a 501(c)3 status but want to accept tax-deductible, charitable gifts.

  • Are willing to work together to determine the causes their organization wishes to support.

  • Want to make a long-term impact on the charities that are most important to them.

  • Many businesses establish Committee Advised Funds to facilitate corporate giving.

Financial facts

  • A Committee Advised Fund can be established in any amount.

  • A Committee Advised Fund may be permanently endowed (eligible for Endow Iowa tax credits) or may be a fully spendable account.

  • The ability to combine funds into professionally managed portfolios allows greater diversification of investments and access to investment vehicles that would not be possible for individual funds. 

  • Each fund is charged a fee for administrative and investment services facilitated by the Community Foundation.  Investment management fees are dependent on the investment portfolio selected.  Administrative fees are based on asset size and fund type.

                  
Get started

  • Discuss a Committee Advised Fund with us.

  • The Community Foundation will customize a fund agreement for you.

  • Make an initial contribution.

  • Donors who establish or give to Endow Iowa qualified funds are eligible to receive a 25% Endow Iowa Tax Credit in addition to normal federal charitable income tax deductions.

 

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