GIVING
A guide for professional advisors and their clients.
Welcome
An Introduction to C3F
The Charlevoix County Community Foundation is a public charity that manages charitable assets spread across hundreds of different funds that have been established by individuals, families, businesses, and nonprofit organizations in the Charlevoix County area We offer a wide range of giving options tailored to the specific personal, financial, and charitable needs and objectives of our donors. We exist to help individuals and companies achieve their charitable goals and to build and manage our communities’ permanent endowments. We pride ourselves on being faithful stewards of donors’ resources and making positive changes in Northern Michigan.
The Charlevoix County Community Foundation offers expertise on charitable giving and the needs of the local community. As an attorney, Certified Public Accountant, or financial advisor, you almost certainly have clients who have supported charitable organizations in the community during their lifetime who may wish to make gifts to charity through planned giving. We work with advisors like you to support and enhance the services you and your firm provide to your clients You stay in control of your client relationships, we are here to help you serve your clients charitable giving needs.
We know that preliminary conversations typically occur with your clients before they decide to talk to us, and we ’ re here to help. The detailed information in this giving guide will inform and equip you as you guide your clients through the charitable decision making process, and we hope this guide will simplify and clarify various giving options. Throughout the guide you will find a variety of materials that you can offer to your clients as you explain what the Charlevoix County Community Foundation does and discuss specific ways they can give through C3F. We have provided this book to be your guide as well as folders that can be given to your clients with our annual report, brochure, Leave a Legacy booklet, and other applicable resources that share great stories about others who have given through C3F. In addition to these printed materials, you can find all of these resources electronically on our website at www C3F org
If you or your clients have questions, would like additional information about charitable giving techniques or C3F, or if you are looking for additional resources in connection with charitable planning for your clients, please let us know. We look forward to meeting with you and individual clients to provide further clarification, ideas, or perspective. Thank you for partnering with C3F to serve your clients’ charitable interests and sustain the high quality of life that Charlevoix County has to offer.
CHARITABLE Conversations
Why should I engage my clients in charitable conversations?
Advisors are often reluctant to begin a charitable giving conversation with their clients. The reasons are varied. Advisors may not be aware of a client’s interest in philanthropy and assume the client is not charitably inclined.
The reality is that a majority of clients are already charitably inclined and would even welcome a dialog on charitable giving.
95% of people give to charity during their lifetime, according to the Center on Philanthropy at Indiana University.
Often charitable giving is simply overlooked and all it takes is a little nudge or reminder.
10% of people give to charity as part of their estate planning, according to the Association of Fundraising Professionals Research.
Compared to the 95% who give during their lifetimes, this strongly suggests clients are not thinking about including charities in their estate plan and only need a little encouragement to do so.
In some cases, advisors are concerned about appearing to impose their values or influence how clients spend or give away their money or property.
Most individuals expect their professional advisors to present a wide range of planning options, especially those planning ideas the client might not have otherwise or previously considered. Experienced advisors know that if the conversation is properly initiated, clients will not be offended or feel the advisor is imposing his or her values on the client.
In fact, starting a charitable giving conversation adds value to advisor-client relationships It shows their interest in people and the community.
Finally, clients and their advisors often share a love of their community. You do not have to be wealthy to make a difference with charitable gifts. By avoiding the subject of charitable giving, a significant opportunity may be lost for the client and the community.
Any amount can be contributed to any of our permanent philanthropic endowments. If your client wants to establish a fund in thier own name at C3F, there are some basic requirements that need to be met. Contact us for more details.
According to a recent study by the Rural Policy Research Institute Center for Rural Entrepreneurship, if everyone in the Charlevoix County area were to leave 5% of their estate to the community, more than $75 million would be invested locally in the next ten years.
If C3F and professional advisors initiate more charitable conversations together, our community will be the better for it.
CHARITABLE Conversations
What if my client IS charitably-minded?
Many of your clients already make charitable gifts and have charitable priorities. By working to understand what is motivating them to give, you will be in a good position to advise on what is the best asset or method for them. Your client is most likely being motivated by some of the following perspectives:
I feel fortunate and want to give back to others.
I want to feel I’m changing someone ’ s life.
I want to leave a legacy that perpetuates my values.
I was raised to give to charity - it’s a tradition in my family.
I felt emotionally moved by someone ’ s story.
I want to feel I’m not powerless in the face of need and can help.
I feel a sense of closeness to a community or group.
Someone I know asked me to give, and I want to help them.
I need a tax deduction.
It makes me feel connected to other people and builds my social network.
I want to have a good image for myself and/or my company. I give for religious reasons - God wants me to share my affluence.
When working with charitably-minded clients, encourage them to think in these terms: The question is not “how much should I give?” the real question is “how much should I keep?”
Are Your Clients Like Joe and Karen?
Joe and Karen Kimmell were among the first C3F Legacy Society members – those who have included C3F in their will - when the effort launched in 2013. As a former attorney who worked with foundations, Joe understood the potential of future gifts and the impact that would be possible far into the future. “We worked with our attorney and other advisors during our planning. We like that the document we signed with the Community Foundation can be revised easily and without cost should our charitable goals change at some point in the future.”
CHARITABLE Conversations
Some clients, when approached about charitable issues, may say something like, “ my children are my charity.” However, in many cases, they have more than sufficient financial resources for retirement and their childrens’ needs - the key is to find something they have a connection to.
Most people have a special affinity for the place where they live. The community gave them many memories and contributed to their ability to be successful. While they may not have connected with any one charity’s mission in a deep and meaningful way, they most likely feel a sense of connection to the place they call “home.”
This is where C3F enters the conversation - because a gift to C3F is a gift to the community. C3F is not tied to a single social cause or mission; rather, it is focused on allocating resources to produce the largest possible benefit for the Charlevoix County area. An individual not accustomed to charitable giving doesn’t have to make a decision about which individual charity to support; they can give back to the community as a whole through a gift to C3F.
Another common place of connection is faith. Many people derive their sense of generosity and stewardship from their religious beliefs. All faith traditions value giving of one ’ s self for the benefit of others. You might not always be comfortable asking your client how their faith impacts their decision making, but if you are, it is a great place to start a conversation about giving to others. Even for individuals who do not currently give much, faith is still often present in their life and conversations about faith can lead to generosity.
CHARITABLE Conversations
How will I know when to start a charitable conversation?
As with so much else that professional advisors do in consulting with clients, active listening is critical.
You can help your clients achieve their charitable goals by listening for charitable giving opportunities, explaining the various options, and suggesting solutions.
Significant giving opportunities also arise when clients are making major business, personal, and financial decisions. These are the key times to be talking to your clients about charitable giving.
Charitable giving is particularly effective when clients:
Sell a business or business interest.
Sell real estate including second homes and farms.
Liquidate appreciated assets such as stocks and mutual funds.
Retire, particularly if the client takes lump sum payouts or is subject to an IRA required minimum distribution.
No longer need their amassed life insurance.
Experience windfalls that bring significant tax liabilities.
Mention or demonstrate a particular affinity to a charitable organization.
These situations provide an easy transition into a discussion about giving to charity
How do I start a charitable conversation?
There are many questions which easily extend conversations you are already having with your clients. Ask a few simple opening questions that can begin a dialog about charitable giving:
How important is it that you convey your values to your children? Grandchildren?
What is the most meaningful or satisfying gift you ’ ve made?
How would you like to be remembered?
What do you love about Charlevoix County or Northern Michigan?
What changes would you like to see in our community?
Did a specific nonprofit organization ever help you or loved ones? If so, what impact did it make on you?
Would you like to learn how you can provide appropriately for your family while also providing meaningfully to your favorite charity or cause?
CHARITABLE Conversations
How can my clients provide for both their children and charity in their estate plan?
One difficult consideration for many charitably inclined individuals when engaging in estate planning is the question: “How much do I give to my family and how much do I give to charity?” For many parents, their primary wish is to ensure their children share their assets and possessions at their passing; however they often want to balance that with a desire to support charities they have supported th roughout their lives. These individuals should consider using the “Child Named Charity” concept The theory is that if your client has three children, instead of dividing the assets in thirds and leaving 1/3 to each child your client adds a 4 child and divides the assets in quarters leaving 25% of the estate to each child. The fourth child is named “Charity.” Their estate would be divided by the number of children plus one.
th
Another iteration of the same concept is “Child Named Community.” By naming C3F as an additional child in your clients’ estate plans, it is as if your client is adopting our community as an heir of his or her assets.
What tools does C3F offer to assist my client during specific life situations?
The following are some typical scenarios that you may encounter when charitable giving through C3F can be helpful:
YEAR END TAX PLANNING – Your client just earned a large bonus and wants to give a portion back to the community, but does not have the time to decide on the most deserving charities. Here is an opportunity to recommend your client consider establishing a Donor Advised Fund at C3F for an immediate tax deduction and the ability to stay involved in recommending uses for the gift for years to come.
PRESERVING AN ESTATE – Estate planning identifies significant taxes going to the IRS, but your client wants to direct dollars for local benefit. C3F can work with you and your client to reduce his or her taxable estate through a charitable bequest or a planned gift.
SALE OF A BUSINESS– Your client owns appreciated stock in a company that is about to be acquired. C3F can work with you to suggest several ways to structure a charitable gift to help your client reduce capital gains tax and maximize impact to the community.
STRATEGIC GIVING – Your client is passionate about addressing a specific community need and wants to make a meaningful gift You and your client can work with our grantmaking experts to understand community needs and programs and then direct gift dollars to make the greatest impact
REDIRECTING TAX DOLLARS TO CHARITY – Your client is concerned about how the government spends his or her tax dollars. Charitable planning can reduce taxes and allow the dollars that would otherwise pass to the government to be spent based on the governments’ priorities, and instead pass to charities aligned with the client’s priorities.
CHARITABLE Conversations
What tools does C3F offer to assist my client during specific life situations?
RETIRING IN COMFORT – Your client wants to secure their financial future, but has always been charitable. Recommend establishing a life income gift such as a charitable gift annuity at C3F that pays income for life. Upon your client’s death, the gift can be distributed to C3F to make a difference for generations to come.
SALE OR DISPOSITION OF APPRECIATED STOCK – Your client has appreciated stock he or she wants to use for charitable giving Suggest making a gift through C3F of appreciated stock Your client receives a tax deduction on the full market value while avoiding the capital gains that would otherwise arise from the sale of the stock
SUBSTANCIAL IRA/401K ASSETS – Your client wants to leave his or her estate to both the community and family and has substantial assets in retirement accounts. C3F can help you and your client set up QCD donations to make charitable contributions without incurring taxes on the distribution.
Regardless of the context in which the conversations begin, it’s important to be prepared to have meaningful conversations with your clients to help them make decisions about where and how to give.
Is giving through C3F right for your clients?
If you answer YES to any of the following questions, your clients would benefit from knowing more about C3F:
1. Do I have clients who care deeply about the Charlevoix County and Northern Michigan area?
2. Do they give to more than one charitable cause?
3. Are they interested in creating a personal or family legacy in Charlevoix County?
4. Are they interested in creating a private Foundation?
5. Would they like to stay personally involved in the use of their gift dollars?
6. Do they want to receive maximum tax benefits for their charitable contributions?
7 Do they place a priority on sound financial management of their contributions?
8. Are they struggling to determine which individual charities to support?
Meet Your Community Foundation
The Charlevoix County Community Foundation was founded in 1992 when an eager group of volunteers led the charge to start a community foundation in Charlevoix County, driven by the vision of a vibrant community where friends and neighbors can thrive
As a trusted charitable resource, we carefully invest and steward donor gifts in order to make meaningful grants that support pathways to progress across Charlevoix County. We encourage everyone to make a positive difference in their community by connecting with us for giving and granting opportunities in areas that matter most – environmental stewardship, arts and culture, health and wellness, youth initiatives, recreation, education, and more. Here, your giving has a purpose, and your impact will be felt by those living nearby.
We believe everyone living in Charlevoix County deserves an opportunity to thrive in their community That’s why we commit our time, talent, and resources to transforming the quality of life, so our neighbors feel supported and connected, now and for generations to come.
Mission and Core Focus
Charlevoix County Community Foundation enhances the quality of life for all in Charlevoix County, now and for generations to come, by connecting inspired donors and dedicated community organizations.
Vision
To be the trustworthy resource for philanthropy by building permanent endowment, addressing needs through grantmaking, and providing leadership resources to serve our community. Charlevoix County Community Foundation envisions vibrant communities where everyone can thrive
Core Values
We pursue continuous improvement and meaningful outcomes through these core values:
Trustworthy - We act with integrity to earn and deserve our community’s trust
Sincere - We are approachable, bringing warm professionalism to every interaction and relationship.
Engaged - We are attentive by showing up with curiosity, open-mindedness, and generosity.
Inclusive - We seek out and listen to the diverse perspectives of community members.
Intentional - We are thoughtful, patient, and deliberate for our community’s present and future.
Gifts of All Shapes and Sizes
Together With Our Donors
Every gift helps something meaningful take root in our community - today and for generations to come.
Ways to Give
CASH - Cash is the simplest gift to give. You can even combine multiple cash gifts over time to establish a named fund at the Community Foundation
STOCKS, BONDS, MUTUAL FUNDS - These often provide greater tax benefits than a cash gift of equivalent value, especially if you have a low cost basis. You will receive a charitable deduction for the full fair market value of your property - even if you initially bought it for less. You will also avoid capital gains tax on the asset appreciation.
QUALIFIED CHARITABLE DISTRIBUTIONS - A QCD allows qualified individuals to donate to one or more charities directly from a taxable IRA instead of taking their required minimum distributions. Gifts must be made directly from the IRA plan administrator to qualify.
TRIBUTES AND MEMORIALS - We offer many opportunities to help you recognize special people who have made a difference in your life and the community. We accept donations made as a tribute or memorial to an individual, family, or organization Special funds can also be created for specific tributes and memorials
LIFE INSURANCE - You can donate your life insurance by transferring ownership of your policy allowing for a tax deduction now.
CRYPTOCURRENCY - Securely give a gift of cryptocurrency on our website through the online service “The Giving Block.”
PLANNED OR FUTURE GIFT - Leave your assets to both loved ones and your charitable interests. A planned or future gift allows you to make a significant charitable contribution, that may not be possible during your lifetime, through your will or estate plan.
WIRE TRANSFER - You can easily and safely donate by wire transfer through our special wire transfer account held at Charlevoix State Bank
Investment Management & Performance
Building Trust Since 1992
Community Foundation trustees and professional investment managers at Fund Evaluation Group oversee the investment pool. Investment policies provide a clear understanding of the philosophy and objectives as well as the standards that are utilized by the Investment Committee in monitoring investment performance.
Investment of Assets
All funds of the Community Foundation are commingled for investment purposes, in either the Long-Term Investment Pool or the Environmental, Social, and Governance (ESG) Investment Pool. Investment performance is reviewed quarterly by the investment manager and the Community Foundation’s Investment Committee.
The Long-Term Investment Pool represents funds that are broadly diversified in public equity and fixed income investments. The ESG Pool investments also integrate environmental, social, and corporate governance factors into the investment decision making process. Both pools have a long-term focus and a similar asset allocation approach.
*Our most recent performance numbers can be found on our website at www.C3F.org.
Spending Policy
The spending policy applies to all permanently endowed funds. The amount that may be appropriated for expenditure is determined by a total return system The maximum amount that may be appropriated for expenditure in the coming year is calculated each September 30th and is reviewed and approved by the Finance Committee annually. The calculation is as follows:
1. A 12-quarter rolling average of the applicable fund’s market value is determined.
2. The average market value is multiplied by a spending rate, as follows: The maximum amount that may be appropriated for fund sub-types will be 4.75% of the average market value calculated in “ 1, ” above; scholarship funds will be 5% of the average market value calculated in “ 1, ” above.
Make A Difference
How Do You Want To Make a Difference?
The Community Foundation can help you make an impact by matching your interests with charitable tools. Be in touch to share how you want to make a difference.
Funds for the Community
These unrestricted grantmaking funds offer donors the greatest possible impact by providing grants where they’re needed mosteven as needs and opportunities in our communities change over time. Funds for the Community can be established in the name of an individual, couple, family, or business with a minimum gift of $5,000.
Funds that Support Areas You Care About Most
Donors can establish funds that do important charitable work on Beaver Island, in Boyne City, Charlevoix, and East Jordan, in the areas of arts and culture, the environment, health, neighbors in need, or youth. The Community Foundation supports programs and organizations in each of these areas to improve the quality of life for all of us. New funds can be established with a minimum gift of $10,000.
Funds that Support Organizations You Love
Donors can grow long-term resources for their favorite organizations by giving to funds established to support the organization’s mission. With a minimum gift of $10,000, donors may also name a fund to provide annual support to one or more organizations, forever.
Funds that Support Student Success and Scholarships
Whether you care about helping students achieve in our local schools today or wish to support them as they continue their education after high school, the Community Foundation offers options for impact. A fund can be established with a minimum gift of $10,000
Donor Advised Funds
Make an IMPACT
Whether you give to a fund that is already growing and granting or start a new fund to begin making a difference, you can make an impact through the Community Foundation.
This tool allows donors to make grant recommendations to support charitable programs and projects. The Community Foundation aims to connect donor advisors with local opportunities for impact, while also supporting their personal philanthropy Get started with a minimum gift of $20,000
Priority Funds
Priority Grantmaking Funds
Competitive grants are our primary grantmaking tool for direct investment of funding from our priority endowments including the Community Endowment. We work with our nonprofit partners various times of the year to offer them multiple opportunities to apply for funds in our priority grantmaking areas.
The funds listed below make up our priority grantmaking portfolio. The Community Foundation uses these funds to invest in community change across all organizations, improving the Charlevoix County area. Whenever challenges or opportunities arise in Charlevoix County, we have the resources to respond with the best solutions. That’s why these are the most important investments you can make in the community that you call home.
Environment
Community Endowment
This is the most flexible and far-reaching fund at C3F. Designed to exist in perpetuity, this fund fuels annual grantmaking through our Community Priorities grant cycle Together we help Charlevoix County become stronger, healthier, more vibrant, and ready for whatever needs and opportunities will exist years from now. The Community Endowment is not tied to a single social cause or mission. Rather, it is available to address a broad range of issue areas in our community. It is also flexible enough to adjust over time to address the ever-changing needs of our region
Charlevoix County’s natural beauty is a big part of why people love living here The Ethel Coeling Environmental Endowment - created through an estate gift in 2002 and open to all donors - supports efforts to protect and enhance our local natural resources. Each spring, grants from this Fund and other Environmental Funds help preserve, restore, and improve the county’s precious ecosystems.
Priority Funds
Arts and Culture
Artistic and cultural experiences enrich a community by sparking connection, inspiring imagination, and giving people a shared sense of possibility. That’s why our Arts & Culture Fund makes grants to local nonprofits each year in support of local artistic endeavors such as music, art, theater, dance, museums, and more
Youth Needs
Geographic Enrichment
Charlevoix County’s communities are diverse and needs vary. A program that thrives in one may not fit another - and that’s exactly why our Geographic Enrichment Grant Cycle exists. It provides place specific support with endowments for Beaver Island, Boyne City, Charlevoix, and East Jordan to support specific needs that strengthen each community
Our Youth Fund supports youth-focused projects across Charlevoix County, guided by the C3F Youth Advisory Committee (YAC). Made up of local teens from 5 area schools, the YAC reviews grant requests on behalf of their peers Since 1994, the Youth Fund, together with other Funds for Youth, has invested in programs that enhance the lives of young people throughout the region.
Priority Funds
Urgent Needs
Access to basic needs like food, clothing, heat, and housing should be available for everyone in Charlevoix County. The C3F Urgent Needs Fund, in partnership with similar funds, offers fast, flexible support when our community is facing hardship or an unexpected crisis Unlike endowed funds that focus on long‑term growth, this fund is fully available to help nonprofits provide essentials such as food, shelter, safety, healthcare, mental health services, utilities, transportation, and other critical assistance as needs arise.
Student Success
Endowments for Student Success help remove barriers to learning, provide enrichment opportunities, and support students in becoming engaged community members C3F partners with school leaders to offer strategic support where tax dollars can’t reach. Donors can contribute to existing Endowments for Student Success on Beaver Island and in Boyne City, Boyne Falls, Charlevoix, or East Jordan - or create their own named fund to make a lasting difference for local students.
Housing Solutions
The Housing Solutions Fund aims to increase the supply of housing units in Charlevoix County across a variety of price points. The fund works to achieve this purpose by being committed to mixed-income neighborhoods and developments, increasing housing choice, and ensuring that development is compatible with local goals and objectives
Donor Advised Funds
Making Your Giving Easy
Donor Advised Funds reflect our commitment to connecting generous individuals with local organizations to strengthen our community. Through a partnership with C3F, donors enjoy administrative simplicity, cost efficiencies, and meaningful tax advantages while recommending grants each year to the nonprofits, schools, or municipalities they value most. C3F manages all grant administration and shares local opportunities throughout the year to help donors direct their philanthropy where it can have the greatest impact. A Donor Advised Fund also offers a low‑cost, flexible alternative to direct giving or establishing a private foundation, making charitable giving both accessible and effective.
By establishing a C3F Donor Advised Fund, donors can contribute when it is financially advantageous and take the time they need to decide where those dollars will do the most good. It offers both flexibilit y and purpose—a way to integrate generosit y into one’s life without rushing important decisions.
Benefits Of Setting Up Your Own Fund
When you establish a Donor Advised Fund with the Community Foundation you:
Only have to make one gift and keep track of one donation receipt.
May add to your fund at any time, receive an immediate tax deduction, but then distribute funds over longer periods of time.
Have the opportunity to give anonymously, if desired.
Have access to the expertise of the Community Foundation’s professional staff.
Have the ability to participate in contributing toward our competitive grant cycles, if you wish.
Donor Advised Funds
Donor ad our life or to become a de the next generation in the family s philanthropy, passing along the joint values of charitable giving.
Are Your Clients Like Jack And Danielle?
When asked what they love most about this area, Jack replies, “What’s not to love?” Jack and Danielle Poindexter have years of experience on which to base that assessment. Danielle is originally from East Jordan and Jack moved to the area in 1999.
Right now, Jack and Danielle are working to include their nine children in their local philanthropy through a donor advised fund. “If we can help our community continue to improve and grow the quality of life for folks here in some small way, we want to do that,” notes Jack. “We’ve been very blessed in so many ways, and giving back is one way we can share those blessings,” Danielle adds. The Poindexters have also provided for the continued philanthropy of their children in their estate plan, plus a gift to the C3F Community Endowment, “which has the greatest flexibility to provide for whatever our community needs in the future.”
Do Adv Fun Donor Advised Funds
Purpose a Individuals,
How a Donor Advised Fund Works
Donor(s) may recommend grants to qualifying nonprofit organizations, schools, or municipalities at any time close to home or outside of Charlevoix County. The Community Foundation can also share local opportunities for impact.
Options Available to Donor Advisors
Some donor advisors use their fund for simplified annual giving to support organizations they care about most. Some donor advisors look to the Community Foundation to learn about current needs and opportunities for charitable investment in Charlevoix County. Others establish a donor advised fund with a long-term goal of building a charitable resource similar to a family foundation with less cost and administration. A donor advised fund is a tool for individual philanthropy and is therefore as unique as the individuals who establish the funds.
General Features
The minimum amount necessary to establish a donor advised fund is $20,000.
Depending on the donor’s goals, a donor advised fund may be established as a permanent endowment to grow for the future or a non-endowed fund for current grantmaking.
Endowments grant a portion of the balance each year to allow for the fund’s long-term growth.
Non-endowed funds are available to grant but must maintain a minimum balance of $10,000
The Community Foundation charges this type of fund a tiered annual fee to provide for grantmaking, investment management, individual fund accounting, donor acknowledgement, and reporting.
Fees: 2% Up to $500k | 1.75% $500k - $1 million | 1.5% $1 million +
Grants may be made to qualifying charitable organizations, schools, or municipalities. Grants may not result in benefits to the advisor, their family, or their business and may not pay pledges.
How to Establish a Donor Advised Fund
Understand the Highlights of the Donor Advised Fund Policy and complete Specifics for Establishing a Donor Advised Fund with C3F staff to determine specific fund features. Sign the fund agreement and establish the fund with an initial gift.
Highlights of the Donor Advised Fund Policy
Purpose and Practice
Individuals, couples, families, or businesses can establish a donor advised fund as a tool for philanthropy
Once established, the Fund is owned and controlled by the Community Foundation. The named donor advisor has the privilege of recommending distributions (grants) from the Fund. This is IRS language that allows for a tax deduction when you give to your donor advised fund. If you held more control, the gift wouldn’t be complete in the eyes of the IRS and you would not be eligible for the tax deduction.
Recommending Distributions
Donor advisors may recommend distributions for charitable purposes to qualifying 501(c)3 nonprofit organizations, schools, or municipalities at any time by mail, email, or through the Fund Advisor Portal
Distributions from donor advised funds are not limited to impact within Charlevoix County; however, the Community Foundation does not make distributions to non-U.S. or foreign governmental entities.
The IRS prohibits distributions to individuals, distributions for political purposes, distributions for the payment of pledges, or distributions that result in benefits to the donor, advisor, family members, and/or businesses they control
Your recommendations are typically accomplished within two weeks including: due diligence to verify that the organization is qualified to receive a distribution, processing the recommendation, cutting checks, and providing guidance with an award letter as necessary.
Unless the donor advisor requests to remain anonymous, the “XYZ Fund of the Charlevoix County Community Foundation” will be noted.
The Community Foundation aims to connect donor advisors with local opportunities for impact through annual grant cycles and timely needs shared by partner organizations
Fund Management
Donor advised funds will benefit from financial management according to the Community Foundation’s Investment and Spending Policy. Assets may be ‘comingled’, but each fund is accounted for individually.
At least annually, all investment options are reviewed and approved by the Community Foundation’s Finance and Investment Committees and the Board of Trustees.
The long-term investment objective is to preserve the real value of endowed funds The Community Foundation seeks a total rate of return that supports grantmaking, fees, and inflation Donor advisors may choose the General Investment Pool, the Environmental, Social, and Governance (ESG) Investment Pool, or in the case of a nonendowed fund, an interest-bearing sweep account. Donors advisors have the option to change this selection a maximum of once per year.
Donor advised funds are assessed a tiered annual fee to share a fair portion of the total investment and administrative costs of the Community Foundation and for services provided to donor advisors
Fees: 2% Up to $500k | 1 75% $500k - $1 million | 1 5% $1 million +
Future Considerations
A donor advised fund is considered inactive if the advisor has not made a recommendation in three years and has not responded to the Community Foundation’s attempts to contact them.
Designated Funds
Support Your Cause Forever
You already faithfully support organizations you care about. A Designated Fund allows you to continue to support its mission in your own name forever. If the nonprofit you select ceases to exist or cannot fulfill its mission, the Community Foundation will redirect the funds so that it continues to address your original charitable intent.
Sustainability Matters
Designated Funds are created for the benefit of one or more nonprofit organizations by providing ongoing support. The donor specifies how the endowed funds are to be used, and the Community Foundation provides ongoing stewardship and oversight to ensure the donor’s intentions are fulfilled.
C3F is an expert in managing charitable endowments. Nonprofits are experts in managing their programs. A Designated Fund combines an or ganization’s mission with a donor ’s endowment for lasting impact.
Join Nonprofits in Planning for the Future
Many local nonprofits have established endowment funds at the Community Foundation as a simple, efficient way to develop sustainability for their organization. We handle investment management and administrative responsibilities related to the endowment. The organization staff and volunteers may then concentrate on fulfilling their mission. You may give to any of these nonprofit endowment funds. Your gift will benefit the organization in perpetuity. We can facilitate all types of gifts including appreciated stock.
Planned Giving
Give
Many people like to include a charitable gift in their will or trust. When you combine your overall financial and estate planning with such planned gifts, you can minimize your tax burden, provide for your family, honor loved ones or family name, and reinforce your personal values. Furthermore, you can make significant charitable contributions to your favorite causes - gifts that may not be possible in your current financial position. Sometimes you can also receive income during your life in exchange for a charitable gift.
Some
giving
requires
advanced
planning.
Leave your resources to loved ones, your charitable interests, and your communit y.
Do You Want To....
Avoid tax on retirement plan assets? Name C3F as a beneficiary of this heavily taxed asset and leave other assets to family.
Give charitably from your estate while providing adequately for your family? Let us introduce you to the concept of a “Child Named Charity.”
Defer a gift until you know you will not need the resources? Consider a bequest in your will or trust.
Supplement income for life and make a charitable gift at the same time? Establish a charitable gift annuity.
Make a significant gift at little cost to you? Name C3F as a beneficiary of an existing life insurance policy.
Legacy Society
What Is The Legacy Society?
The Legacy Society recognizes individuals and couples who have named the Community Foundation as the beneficiary of any type of planned or deferred gift. The purpose is to acknowledge and thank those who have planned for these gifts and to encourage and inspire others to do the same.
How Do I Join The Legacy Society?
1. Meet with Community Foundation staff to share the issues that are important to you and how you hope to make a difference with your future gift.
2. Complete a simple form that outlines how your gift will be applied to meet your charitable goals. These instructions can be revised, if desired, without the need for updating your will.
3. Consider whether you would like to be named in the Legacy Society, which recognizes and thanks individuals and couples who have included the Community Foundation as a recipient of a future gift.
Many of our Legacy Society members provide for an estate gift in their wills or trusts Others find it highly effective to name C3F as the beneficiary of 401K or IRA funds or to give life insurance policies. You may also establish a planned gift that returns income to you during your life.
Gratitude
We consider planned gifts to be a demonstration of the highest level of trust in the Community Foundation due to their importance in your life and the meaningful impact they make on the community. Because Legacy Society members are such close friends of the Community Foundation, we offer them exclusive invitations to events and special gatherings. Together we can continue enriching this community we call home.
Adopt A Child Named Charity
How to give meaningfully to the community you love while providing appropriately for your family.
Think of a married couple with three children, each of whom might receive a third of their parents estate
Estate Division
Adopting Charity
VS
By adopting a “Child Named Charity,” there are now four children, and each of the four children instead received 25% of the estate. This final 25% is reserved for charitable gifts to the donor’s favorite nonprofits. This is known as Charity’s portion.
The parents demonstrate their values while providing for their children at an appropriate level. The Community Foundation will manage “Charity” for your estate, distributing funds to the nonprofits per your instructions or using funds in perpetuity for community projects
“A ver y rich person should leave his kids enough to do anything but not enough to do nothing.”
– Warren Buffett
Legacy Society
With a Gift in your Will or IRA
You can make a difference in the future without impacting your current finances. It’s meaningful philanthropy almost anyone can do.
YOUR IMPACT WILL NEVER END For Good. For Ever.
The Community Foundation is a permanent charitable organization that will make a difference in Charlevoix County for generations to come. Endowed funds managed by the Community Foundation will grow over time while generating ever-increasing contributions to causes and organizations you care about most.
WHAT WILL YOUR WILL SAY ABOUT YOU?
What will your LEGACY be?
Legacy Society members have graciously allowed the Community Foundation to share their stories to inspire others to make a future gift. To read their stories, visit www.c3f.org.
Denise Fate’s will says a lot about her: she has included a gift to the Community Endowment for unrestricted grantmaking. “I trust the C3F to put the money to best use in the areas I care about most – protecting the environment to sustain the natural beauty of the area and responding to the needs of future generations in this community I care about so deeply.”
YOU’RE INVITED
Join the Community Foundation’s Legacy Society by including a future gift in your future plans.
Scholarship Funds
Higher education has long been see nately, many people who could benefit the most from a college education are the least able to afford it. In setting up a scholarship fund you show local students you believe in them while creating a lasting legacy in your name or the name of a loved one.
We Can Help You Find Those Students
The Community Foundation handles all administrative details of awarding scholarships, from promoting their availability and processing applications to selecting deserving students and writing the checks.
The Community Foundation is working toward larger, renewable awards to provide financial support over multiple years to help students reach degree attainment. One way we ensure meaningful financial support is by pooling together available dollars from individual named endowments. Collaborative Scholarship Endowments offer an academic or career training and skills education path for meaningful financial support.
Scholarship Funds
Int
Funds to Support
Since 1992, the Community Foundation rships for post-secondary education.
Collaborative Academic Scholarship Funds
Individual Named Endowments, Collaborative Awards
Support local students as they pursue post-secondary education.
Endowed, which provides a percentage of the balance for scholarships each year, forever
Available dollars are awarded collaboratively, resulting in larger, renewable awards for students
Choose the name of the endowment and the local school district
Be featured on the C3F website and annual report
Establish an endowment with a minimum of $10,000
1% fee for management which includes donation acknowledgment, investment management, and scholarship promotion, review, and student selection
Collaborative
Career Training & Skills Education Scholarship Funds
Individual Named Endowments, Collaborative Awards
Support the unique financial needs of students pursuing skill-oriented pathways.
Endowed, which provides a percentage of the balance for scholarships each year, forever.
Available dollars are awarded collaboratively, resulting in awards that meet students’ needs.
Choose the name of the endowment.
Be featured on the C3F website and annual report.
Establish an endowment with a minimum of $10,000.
1% fee for management which includes donation acknowledgment, investment management, and scholarship promotion, review, and student selection.
Donor Directed Scholarship Funds
One Fund Supports One Student
Allows more guidance from the donor.
Non-endowed, which means the fund can immediately offer recipients a meaningful and renewable award.
Choose the name of the fund, the local school district, and preferences for eligibility and selection criteria.
Be featured on the C3F website and annual report
Establish a non-endowed fund with a minimum of $100,000 - when the fund balance falls below $50,000 the C3F offers a “ pause ” for fund representatives to make decisions about the future of the fund
2% fee for management, which includes donation acknowledgment, investment management, and scholarship promotion, review, and student selection