HOW TO GIVE
The Shiawassee Community Foundation is an easy way for all citizens to give something back to their community. Giving through the Foundation is not complicated, nor does it require great wealth. Over the years, the foundation has received gifts from numerous donors ranging from $1 to $2.1 million.
You have several options when making a gift to your community foundation. You may contribute to one of our named funds under Scholarships or Grants. All donors are sent an acknowledgement letter for tax purposes.
Gifts can be made in memory of a loved one or to honor someone celebrating a special event like a birthday, anniversary, wedding, or a holiday. The foundation will send the special person a letter stating that a gift was made in their honor. If a gift is made in memory of someone, the foundation will send a letter to the family advising them of the donation.
All donations to the community foundation are eligible for the Federal Income Tax charitable deduction.
ESTABLISHING A FUND AT THE FOUNDATION
The major responsibility of the foundation is to carry out the original donor’s intent for each fund, provide grants and scholarships and use prudent spending guidelines to protect the funds investment in perpetuity.
The foundation offers the following types of funds:
- Field of Interest Fund
- The founding contributor establishes this type of fund to support a specific charitable interest such as the arts, youth, ecology, services for the elderly, or health and human services.
- Designated/Agency Fund
- Individuals or non-profit organizations establish this type of fund and grants are awarded to a specific agency and/or non-profit as a source of on-going support
- Scholarship Fund
- The founding contributor advises the Foundation what the criteria will be of the scholarship fund.
The minimum required to create a new fund is $5,000. Distributions from the fund begin after the fund balance reaches $10,000 and earnings are sufficient to award a grant. Determination of the annual grant/scholarship amounts are based on the previous 28 quarters moving average balance of the market value of the endowment fund ending September 30th.
Administrative fees are assessed quarterly from the income of each fund by type as follows:
|Fund Type||Administration Fee|
|Field of Interest||1.50%|
For a copy of our gift/fund acceptance policy, click here.
View our fundraising policy here.