CFWNC Nonprofit Brochure 2022

NONPROFIT & ORGANIZATIONAL FUNDS

We work with organizations across Western North Carolina to preserve, grow and steward assets. If you are planning for the future, you have found your partner.

Philanthropy is our only business.

Photo by Travis Bordley

By choosing to establish a CFWNC fund, you are helping to inspire philanthropy and planning for sustainability. Partnering with CFWNC gives you access to world-class investment services and experienced support from an organization that understands nonprofit needs.

CFWNC is honored that the region’s nonprofits, civic clubs, places of worship and other charitable organizations choose to establish funds with us. We strive to uphold the highest standards of stewardship for each and every one. Our partners include Lake Toxaway Charities, Haywood County Public Library Foundation, Jewish Community Center Foundation of Asheville, St. Francis Episcopal Church, Blue Ridge Parkway Foundation, MANNA FoodBank, and dozens more.

You can create the fund that best meets your needs and fits existing parameters of your longterm assets. All funds require an initial minimum contribution of $25,000, held for the organization’s benefit.

Investment Expertise

Planned Giving Support

CFWNC pools assets for investment, creating access to opportunities and expertise not available to smaller investors. CFWNC’s fiduciary oversight includes a sophisticated investment and spending policy, a diversified investment portfolio, professional investment managers, independent investment counsel, quarterly performance monitoring and external audits.

CFWNC provides on-request technical assistance for gifts to your organization’s fund. We have experience converting complex assets such as life insurance, closely-held stock, and real estate into charitable contributions, allowing your donors to take advantage of innovative and taxefficient ways of giving. This requires no upfront investment, additional staff training or organizational liability for your organization.

Networking and Professional Development

We can help with:

CFWNC sponsors workshops for fundholder board and staff members.

Topics have included investment management, prospect research, donor cultivation and charitable gift annuities.

These meetings are opportunities to network with nonprofit professionals from across the region.

• Bequests or gifts using a beneficiary designation - an easy and appropriate way for most donors to provide support.

Increased Donor Confidence

• Charitable remainder trusts that provide income to your donor and a gift at the end of the trust’s term. CFWNC can act as trustee.

CFWNC has a reputation for careful stewardship, knowledgeable investment management and comprehensive philanthropic services. You can join the nonprofit and civic organizations that have chosen CFWNC to hold their charitable funds.

• Charitable gift annuities that pay an annuity to the donor during their lifetime and create an endowed gift at their death.

Photo courtesy of Foothills Conservancy Photo courtesy of the JCC

In 2006, Asheville’s Jewish Community Center (JCC) opened a CFWNC endowment fund that provides dependable annual income for operations. “With most nonprofits, the reality is that funding shifts regularly.

Steady, unrestricted income through our endowment fund provides a sense of financial security that allows us to devote more time and energy to our mission and programs.

We also appreciate that a rising tide raises all ships. A strong community foundation

with engaged donors helps all organizations within a community. When donors feel supported, educated and stewarded, they are more likely to engage in future philanthropic endeavors, through donor advised funds, leadership voluntarism and otherwise. Our entire community, including the JCC, benefits from our proximity to a thriving community foundation.”

Jewish Community Center

Becky Davis, Senior Development Officer 828-367-9905 • bdavis@cfwnc.org Laura Herndon, Vice President, Development 828-367-9900 • herndon@cfwnc.org 4 Vanderbilt Park Drive, Suite 300 Asheville, NC 28803 828-254-4960 • cfwnc.org

“Foothills Conservancy of NC’s mission is to permanently protect land and water resources. While it might be challenging to wrap one’s mind around permanence, that is what we have to plan for, and part of that planning begins with intelligent, well-qualified investment management to make wise use of the land trust’s financial assets.

CFWNC is a portal between individuals who care about WNC and nonprofit organizations. Foothills Conservancy and CFWNC share the goal of permanently protecting assets to support a better quality of life for our region.”

Foothills Conservancy of North Carolina

Endowment

Endowment with Withdrawal Option

Charitable Fund

Description

A fund designed to protect long-term or endowed assets

A fund designed to protect long-term assets, with flexibility if circumstances change

A fund for mid-term or longterm assets, with the ability to withdraw principal at any time

Minimum contribution to establish

$25,000; no minimum for additions to the fund

Minimum permanent fund balance

Entire fund balance

Administrative fee*

¾ of 1% annually, for balances up to $1 million

Investment fees

The direct costs of investment management, such as trading costs, manager fees, consultant expenses and custody fees accrue to the fund. These expenses range from 20 to 95 basis points, depending on the CFWNC portfolio selected.

Spending policy

4.5% of fund’s 16-quarter rolling average balance is used to calculate annual spendable income. A 2% spending policy applies if a fund is below historic gift value.

Fund balance exceeding $25,000 is available for distribution

Distributions

Calculated annually in July, available at the organization’s request. Spendable income can be rolled over and remain invested for future use.

Requests for distribution may be made by an authorized organization representative.

Withdrawal of principal

Not available

Fund balance exceeding $25,000 available for distribution

Services for all funds

• Professional investment management • Planned giving assistance • Fund administration • Quarterly fund statements • Presentations to board, staff, donors upon request • Online access to fund activity and statements • UPMIFA and FAS136 compliance

*Graduated scale for higher balances

$25,000

Withdrawals in excess of calculated spendable income require approval of the organization and CFWNC boards.

$25,000