Coastal Community Foundation

Community Foundations and Private Foundations

This chart summarizes key differences between donor advised funds at community foundations and private foundations.

  CCF Donor Advised Fund / Community Foundation Private Foundation
Donor Control of Grantmaking and Investments Donor recommends grants to qualified nonprofit groups. Donor appoints board, which controls investments and grantmaking.
Tax Status Covered under CCF's public charity status. Applies to IRS for private foundation tax-exempt status.
Income Tax Deductions for Gifts of:
Cash Up to 50% of adjusted gross income. Up to 30% of adjusted gross income.
Publicly Traded Securities Fair market value up to 30% of adjusted gross income. Fair market value up to 20% of adjusted gross income.
Real Estate & Closely Held Securities Fair market value up to 30% of adjusted gross income. Deductible at cost basis.
Grantmaking Advice and Follow-up Professional staff is available to help identify and assess grantees, provide input on community needs, and ensure recipients are qualified and effective. Foundation must arrange and support its own grantmaking and monitoring structure. Grantmaking services are available by the community foundation.
Grants to Individuals Allowed under some circumstances (e.g., scholarships). Allowed under some circumstances (e.g., scholarships). Extra oversight required.
Distribution Requirements None. At least 5% of net asset value annually. Grants can be distributed to a CCF fund.
Start-Up Considerations CF Donor Advised Fund Private Foundation
Costs None. Several thousand dollars for legal and accounting expenses and filing fees.
Time-Frame Immediate. Several months.
Minimum Contribution $5,000 None, but smaller private foundations may not be cost-effective.
Fees 2% (minimum $250) Grantmaking, administrative, and investment support are staffed and financed independently.
Taxes None. Excise tax of up to 2% of net investment income, including net capital gains.
Reporting None. Annual tax return, including detailed financial schedules, filed by foundation.
Privacy Donors may remain anonymous. Donors may remain anonymous, but IRS 990PF form lists officers, directors, and trustees.
Philanthropy Club Foundation

Teaching the Art of Giving . . Local philanthropists Steve Knight and David Baker created the Philanthropy Club Foundation to help children learn about the art of giving by supporting local nonprofit organizations that provide important services to the community. By introducing young students to the notion of giving time, talent and treasure without expecting something in return, the Philanthropy Club instills in future leaders of the community the important lesson that the "gift of giving far exceeds the gift of getting."

Women Address Community Issues

Hand to Hand, a women's fund was launced in 2009 by 19 women. Today, approximately 40 women from various areas in the county have pooled their charitable resources to benefit causes that directly benefit women and girls. Grants will be awarded this fall for mentoring programs for girls and programs that help women re-enter the workforce or provide education and job training. "We believe that we can accomplish more together than we can alone," indicates Alice Jacobson, chair of the effort.

Philanthropy Spotlight: Coastal Community Foundation

Established in 1987, the Coastal Community Foundation is a resource and service for the north coastal communities, including Carmel Valley, Del Mar, Solana Beach, Encinitas, La Costa, Carlsbad and Oceanside. Through the power of endowments and grant making, donors personalize giving in a way that meets their needs and desires. The Foundation staff and board help connect donors to causes they care about the most. Individuals are ensured that their donation will continue to work to make their communities better and stronger in perpetuity.

Education PLUS! Grants Fund Classroom Projects

In fall 2010 elementary and middle school teachers can apply for mini-grants ranging from $250-1000 for classroom projects. Eligible school districts are: Cardiff, Del Mar, Solana Beach, Encinitas, Carlsbad, Oceanside and San Dieguito. See the grants page for more information.

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