1. What is the Community Foundation?
2. How can I get funds to help my organization?
3. What has the Community Foundation done in this area?
4. Is the foundation just for scholarships?
5. Why does the Community Foundation have a service fee? How
is that determined?
6. Why would I give a sizeable amount to the Community Foundation
when I have heirs?
7. What is the operating fund?
8. What credentials do the people have who manage the funds?
9. How can I learn more about the foundation's investment policy?
10. Can I designate where to place my gift?
Community Foundation is a premier vehicle for charitable giving.
We help caring community members match their charitable interests with community
needs. We make giving simple by accepting a variety of gifts in
The Community Foundation creates and grows lasting endowments to
fulfill donors' charitable goals while serving the needs of the
community. The Community Foundations provide for permanence, flexibility,
and reduction of tax burden for donors. It is a charitable public trust
established under state and federal tax code, as a vehicle for people
of all means to make a lasting difference in their community.
Every year, each county has a grant cycle in the. Charitable organizations
may fill out a grant application and then submit it to the
Northern Indiana Community Foundation, Inc. Each county's Grant Committee
reviews all of the applications and determines who the recipients will
Not-for-profit organizations can also create permanent endowments
called Agency Funds. These funds support the ongoing needs of
their charitable missions. While the principal of the fund is never touched,
the earnings from the fund are disbursed twice a year, to provide
a consistent source of income to the organizations. Organizations seeking
grant money do not have to have a fund with the Community Foundation.
There are several projects and programs that have been supported by
the Community Foundations of Starke, Fulton, and Miami Counties
since their inceptions. For a complete listing of grants, visit the
respective county's grants page.
Collectively the three counties' Community
Foundations have put over $9 million dollars back into their
communities via grants and scholarships. But the Community Foundations
are about so much more than grants and scholarships. We work to identify
needs and find solutions for our communities' ever-changing needs. Through
the capacity of a convener, a Community Foundation is able to
pull together people, ideas, and resources for positive community change
Scholarships are just one facet of the Community Foundations'
work. While each Community Foundation administers many scholarship funds
and are widely known for the Lilly Endowment Community Scholarship,
this is just a portion of the charitable granting that is done annually.
Individuals can establish funds to
benefit their church or favorite charitable organization. Not-for-profit
agencies can establish endowment funds to benefit their mission
or operating budget. Donor-Advised funds operate very much like a private
foundation where the donor is able to advise the Board of Directors as
to what charitable projects they would like to have funded through their
endowment. To see a complete list of the different kinds of funds available,
visit the Ways to Give page.
The Community Foundation is a not-for-profit organization.
In order to cover our costs, we must charge a modest administrative fee. Along
with the income from our own Operating Endowment fund, we are able to
run our office, provide professional administration, assess community
needs, award grants and scholarship, and support caring community members
in fulfilling their charitable goals. We also provide fundraising support
and guidance; as well as serving as a convener—bringing people and ideas
together for the betterment of our communities.
The administrative fee is based upon the market value of the endowment fund. The larger the endowment fund, the smaller the administrative fee. The Community Foundation's administrative fee varies based upon the type of fund and is usually at the low end of any national benchmarks for this type of fee.
Your financial objectives are obviously the most important
thing to consider when you are doing planned giving. If you have a sizable
estate, much of it could be taxed at 46%. However if you have planned
for charitable giving, then the taxes are less and the amount available
for your heirs could remain the same. There are many types of planned
giving vehicles that can reduce or avoid some taxes while still providing
assets for your heirs. Call our office at 877-432-6423 to learn more.
Our Operating Endowment is used to provide income for our operating
budget, so we can keep our service fees low. It allows us to maintain
a local presence in each of the three counties, and continue to be an
important facet of our communities.
Fund Evaluation Group is the investment advisor for the Northern
Indiana Community Foundation, Inc. They are located in Indianapolis
and have over 15 years of experience with Community Foundations. They
currently advise close to 35% of the community foundations in the state
of Indiana. The Investment Committee of the Northern Indiana Community
Foundation, Inc., which is comprised of representatives from all three
counties, oversees Fund Evaluation Group. The Investment Committee includes
a wide range of financial and investment experience within its membership.
All policies of the Northern Indiana Community Foundation,
Inc. are available upon request. Fund Evaluation Group's latest
performance report is available at this Web site under Reports & Publications.
Absolutely! Between the three Community Foundations, we have
over 240 endowed funds and 100 non permanent funds. All gifts through
the Community Foundation can benefit the agencies or causes you care
about right in your own county. And if a fund doesn't already exist
to support the causes dearest to your heart, we can work with you to