BENEFITS OF CHARITABLE FUNDS
Blue Grass Community Foundation is comprised of hundreds of charitable funds established by people with a passion for their community. There are several types of funds, and they all offer a variety of options, conveniences and benefits:
Anyone can open one.
Whether you already give extensively or are just getting started, we can help you organize your charitable giving to support all of the charitable causes you care about.
It’s quick and easy.
Our professional staff will work with you to determine the fund type that best suits you and your goals. We will walk you through the simple process of opening your fund, and have it up and running within a few days.
You can give to any charity you like.
Once you’ve opened your fund, you can begin recommending grants from it. Your fund can make grants to any 501(c)(3) organization in the U.S., including your alma mater and place of worship.
Most of our charitable funds are charged a 1% community support fee. This low fee is used by the Community Foundation to support the work we do to improve the quality of life in Central and Eastern Kentucky. For more information, see our fee schedule.
Organizing your giving through a charitable fund enables you to be strategic and intentional with your resources. You have the flexibility of contributing to your fund and then making grants over a period of time. So there’s no pressure to decide at year-end where you want to give.
Your fund is accessible online, so your giving information is always available.
We do the work for you.
We can manage all aspects of your fund for you, including keeping track of your donations for tax purposes. And, if you know what kind of causes you want to support, but don’t know where to give, we can help you. As experts in regional philanthropy, we will connect you to nonprofits doing great work in your community.
Your giving information is kept private.
All funds at the Community Foundation, including grantmaking activities and fund balances, are reported in the aggregate on a consolidated IRS Form 990.
It’s much easier and less expensive than forming a private foundation.
The ongoing administration of a private foundation can be quite costly. At the Community Foundation, we handle all of the administrative work for a low community support fee. Private foundations are also subject to certain rules regarding the percentage of assets they must grant each year, as well as extensive disclosure of information on the IRS Form 990.
Learn more about the benefits of opening a donor advised fund versus a private foundation.