SUPPORTING ORGANIZATIONS

Through establishing supporting organizations, Blue Grass Community Foundation meets the unique needs of organizations looking for cost-effective, comprehensive operational assistance while maintaining autonomy. A supporting organization is a subsidiary of the Community Foundation that has its own charitable status, board of directors, bylaws, investment policies and grant priorities. Through its close connection to the Community Foundation, a supporting organization is conferred public charity status and receives all of the associated tax benefits.

While the supporting organization acts independently, it is controlled by the parent organization, the Community Foundation. This control is sufficiently demonstrated by the Community Foundation appointing at least 51% of the supporting organization’s board of directors and having at least one Community Foundation staff member or board member serving as a board member of the supporting organization.

BENEFITS OF ESTABLISHING A SUPPORTING ORGANIZATION:

  • Immediate start-up
  • High degree of autonomy and independence
  • Focus on mission, not administration
  • Conduct charitable giving effectively
  • No required minimum payout
  • No excise taxes
  • Access to Community Foundation’s local philanthropy expertise
  • Retain own legal counsel, tax advisor and investment manager
  • Access to Community Foundation’s technical support

For more information about supporting organizations or how we can help meet your organization’s needs, please contact us.

 

499 East High Street,  Suite 112,  Lexington, KY 40507

Email Us: info@bgcf.org  /  Call Us: 859.225.3343

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