Why establish a fund with the Outer Banks Community Foundation? We think you’ll find numerous advantages.
If you’re handling philanthropy for yourself, your family, your civic organization, or your business, you may be relieved to let us handle your paperwork. Or perhaps you’re new to philanthropy, and you want some expert help in giving back.
There are so many benefits to partnering with the Community Foundation. Here are just a few.
In establishing a permanent endowment fund, you can help meet the pressing needs of today, while building a source of support for the future. We invest your gift over time, and use only a portion for grants and scholarships. That way, your gift — and all future earnings — are a perpetual source of community capital, helping do good work today and in the future. Grants and/or scholarships will continue to be made in the name of your fund, so that your legacy and your charitable wishes are preserved. Learn more about endowments.
Administrative and Accounting Services
We handle all the paperwork for your fund, including fund statements, check-writing, tax filings, annual financial audits, tax receipts to fund donors, and record-keeping.
Enjoy the advantages of having your fund be part of an actively managed, diversified investment portfolio. Our finance committee oversees the investment activities of the Community Foundation, together with an independent investment manager. (Here’s additional information on our finances.)
By pooling your fund with others at the Community Foundation, we offer you significant economies of scale, which means lower investment fees, lower fund minimums, and lower administrative costs.
As a public charity, we offer maximum tax advantage for most gifts according to federal law. Compare the tax benefits of community foundations versus private foundations.
Scholarship administration can be time-consuming and expensive. We offer incredible services for our scholarship funds, including the use of our online application, our outreach to local high schools, and our check-writing services. We can also handle the scholarship selection at no additional cost.
If you wish to establish a grant-making fund but do not wish to review applications or select the awards, you can leave the grant-making to us. We’ll handle the online application, due diligence process, proposal review, and grant disbursement, ensuring that your funds are supporting the most exciting projects, the most urgent community needs, and the best-run nonprofits in our community.
If you wish to recommend grants yourself, you can establish a donor-advised fund and still take advantage of our staff’s philanthropic counsel. Our staff has broad expertise regarding local nonprofits and community needs, and we can help you select the best nonprofits for your grant-making.
We are delighted to publicize new charitable funds, in accordance with the wishes of our fund donors. All grants and scholarships awarded from your fund will be included in our annual report, annual meeting program, and website. We can also make extra publicity efforts to highlight special gifts to and grants from your fund.
Here’s the flip side. While some donors want to publicize their funds, others wish to remain anonymous, and we can do that, too. If you wish to remain anonymous in your giving, we can protect your identify from grantees and list all your donations and grants as “anonymous”. Just let us know your preferences. (And please contact us, if desired, for a copy of our confidentiality policy.)
We hold funds for more than 30 nonprofits in our community, for good reason. Your organizational fund at the Community Foundation can provide your nonprofit with a reliable, easy source of income in perpetuity. You receive all the benefits described above. Additionally, your fund will receive exposure in the Community Foundation’s literature, and any donor to the Community Foundation can designate gifts to your organization’s fund. Our staff is experienced in major and planned giving, and we are available to help facilitate complex and/or planned gifts to your fund. Contact us for more information.