Community foundations are a valuable resource for a community interested in protecting its future and enhancing the quality of life for its residents. Affiliate Funds are designed to benefit a particular geographic area. Each affiliate is overseen by an advisory board of local leaders who are charged with two tasks: first, working with their friends and neighbors to share with them how an affiliate fund can benefit the area; and second, helping make wise decisions about grant distributions when such funds become available.
“North Bend is extremely fortunate to be a part of the FACF umbrella, both with professional management and generous financial support. We thank you. North Bend’s funds continue to grow with your help.”
~Deanna Wolf, Treasurer North Bend Area Community Foundation
How It Works
- One or more individuals, committed to making their community a better place to live, make a gift to the Fremont Area Community Foundation. The gift may be cash, publicly traded or closely held securities, bequests, planned gifts, insurance, IRAs, gifts of grain, real property, etc.
- The fund is established in the name chosen — such as the “XYZ Area Community Foundation Fund” — with this initial gift and the completion of an agreement outlining how the fund will work.
- Once the affiliate fund is established, anyone can give any amount at any time. The donor(s) receives tax benefits in the year the gifts are made. Additional gifts can be made at the donor’s convenience.
- Grants from the fund may only be made to qualified charitable organizations, and cannot represent payment of a personal obligation or pledge.
- Because the affiliate fund is a component fund of the Fremont Area Community Foundation, donor(s) qualifies for a tax deduction when making a gift to the fund.
- Our professional staff handles the administrative details and assists the affiliate leadership in realizing their charitable goals, while keeping within the policies and procedures of the Fremont Area Community Foundation’s policies and IRS regulations.
To find out how you can establish an affiliate fund in your area, please contact Melissa Diers at mdiers@facfoundation.org or 402-721-4252.
