By Rose S. Prinzi
Perhaps you know us, but you don’t know what we do. We are the Chautauqua Region Community Foundation—a philanthropic, non-profit, organization. Our mission? “…to enrich the quality of life in the Chautauqua Region.
This mission is carried out by providing grants to area non-profits, scholarships to area students, and by being available to be partner to every person and business in the community. CRCF is comprised of a collection of many separate endowment funds established by individual donors, families, charitable organizations and businesses.
2. How does the Chautauqua Region Community Foundation work?
CRCF accepts donations to endowment funds from the public and invests these monies. A portion of the investment returns from these endowment funds, to which the monies were donated, are awarded back to the community each year through grants and scholarships.
3. What is an endowment fund?
An endowment fund is a type of permanent fund, established by a donor, for a charitable purpose. The monies within the fund are invested for growth, with the returns granted annually to specific causes or organizations.
4. How do you establish an endowment fund with CRCF?
With the assistance of CRCF staff, a donor can establish a fund with any name. The donor then designates an organization(s) or field of charitable interests as the recipient(s). When the fund becomes active, the designated recipient(s) or cause will receive an annual grant from the fund. An endowment fund can be established with any amount of money but will not become active until it reaches a balance of $5,000.
5. Can gifts be added to an established fund?
Yes, once a fund is established, any amount may be added to that particular fund, or any other fund at CRCF, at any time. Some donors add yearly, some for special occasions and some will designate funds in their Wills. As a note, you do not have to have a fund established to make donations to funds at CRCF.
6. Are there tax advantages of donating to CRCF?
CRCF is an IRS-qualified 501(c)(3) organization, so all contributions are eligible for tax deductions, whether made by an individual or business. Additionally, CRCF can handle other forms of gifts, including gifts of stock, bonds, mutual funds, and real estate, and can work with donors in setting up planned gifts, such as the Charitable Gift Annuity.
7. How are my donations/funds invested?
CRCF has a broad asset allocation managed through 11 investment managers that are required to meet performance benchmarks. CRCF also works with an investment consultant on effective strategies and follows an Investment Policy with strict guidelines. CRCF’s Investment Committee monitors all investment activity and strives for the best possible performance for all funds entrusted to the Foundation.
8. What are the overall goals of CRCF?
The broad purpose of the CRCF is to become an ever-growing community partner; so that, together, we can all build a better community for the future. As part of that, CRCF will always strive to create partnerships with individuals, corporations, private foundations, and area non-profits, so that local expertise and resources can address local problems.
The Foundation exists to serve you, and its work will endure for generations to come. Take advantage of all the Foundation offers by calling 661-3390 or go to our website at www.crcfonlin.org.
Let the Chautauqua Region Community Foundation be your foundation!