- What is the YAC?
- How long has the Community Foundation been in existence?
- What services does the Community Foundation provide to donors/funds?
- To whom do the fund assets belong and under whose control is the distribution of funds?
- What kind of funds may be established?
- Who establishes funds in a community foundation?
- How does the Community Foundation differ from a private foundation?
- Is the Community Foundation in competition with other non-profits?
- How many funds does the Community Foundation currently have?
- How does the Community Foundation secure operating funds?
- How much does the Community Foundation give away each year?
- Who may the Community Foundation grant money to?
- How do I obtain financial information?
- What is the percent return on investment?
- Where/How is the Money Invested?
- What are the Community Foundation's Assets?
- What is a non-permanent fund?
- What is a permanent endowment?
- What is the Capital Region Community Foundation?
In addition to the hallmark functions of grantmaking, donor services and community leadership, the Community Foundation is committed to building a stronger community through youth development. We take particular pride in our YAC (Youth Action Committee) -- a youth advisory committee to the Board of Trustees. These young people, ranging in age from 13 to 18, represent approximately fourteen school districts and are committed to community service, philanthropy, and volunteerism. They are fast becoming the voice of area youth in community planning. (read more)
The Community Foundation was established in 1987.
Management and Investment of Dollars
Facilitating the Grants Program and Ensuring Accountability
Acknowledging and Receipting Contributions
Financial Reports to Donors
Staffing of Advisory Committees
Fund Stewardship and Audit Services
Handling all Governmental Reporting Requirements
Providing Planned Giving Expertise
Public Relations and Marketing Initiatives
Fund contributions become assets of the Community Foundation and, as such, are under the control of the Board of Trustees. The Community Foundation is organized for charitable purposes and should not be confused with a bank or an investment service. Fund distributions receive Board approval and, except in extraordinary circumstances, the principal of a permanently endowed fund is not invaded.
Undesignated Funds
Donor Advised Funds
Donor Designated Funds
Agency (non-profit organization) Funds
Field-of-Interest Funds (with or without an advisory committee)
Individuals, Non-Profit Organizations,Corporations, Municipalities, Schools, Private Foundations, Michigan Associations or Groups with a Common Purpose
We derive our assets from many donors rather than one, have broad charitable purposes and a demographically diverse, non-compensated Board of Trustees. Because we are a public charity, we receive more favorable tax treatment, do not pay excise taxes on income, and have more flexibility in our operating ability.
No, we are a resource for them. We hold many of their endowment funds, work to develop their assets, and make grants to their institutions.
There are over 375 funds, with new funds established on a regular basis.
Primarily from fees charged to funds. The fees range from 1% to 2% of a fund's assets computed annually, but no less than $100 per year, per fund.
This number grows as the value and number of endowments grow, but current annual granting is over three million dollars.
501(c)(3) Non-Profits, Tax exempt schools, churches, and governmental entities.
An independent audit is conducted yearly. The 2008 audit has been completed, and the 2009 audit is scheduled to take place in May, 2010. Currently, the auditing firm is Maner, Costerisan & Ellis, PC. The IRS Form 990, audited financial statements, and specific investment management details are available upon request. Audited financial statements are also posted on our website, on the "About CRCF" page, under "Resources" on the right hand side of the screen. Excluding specific donor information, the financial records of the Capital Region Community Foundation are public.
2009 --> 24.5%
2008 --> (26.5%)
2007 --> 5.79%
2006 --> 11.60%
2005 --> 4.47%
2004 --> 8.65%
2003 --> 20.68%
2002 -->(13.58%)
2001 --> (5.8%)
2000 --> (1.2%)
1999 --> 13.8%
1998 --> 13.8%
1997 --> 16.8%
1996 --> 14.5%
1995 --> 20.0%
The Foundation's assets are invested in a diversified portfolio which includes exposure to domestic and foreign equities and fixed income. Investments are overseen by an investment committee utilizing expertise from professional money managers and an independent consultant and are reviewed on a quarterly basis.
The Community Foundation's assets are worth approximately 59 million dollars as of December 31, 2009.
By agreement, both principal and income may be expended from a non-permanent fund. A non-permanent fund is held in money market and other short-term investments. Per the State of Michigan gifts to non-permanent funds held at Community Foundations are not qualified for the Michigan Tax Credit.
In general, contributions made to the Community Foundation are not spent -- they are invested for growth. Five percent of a fund's assets, averaged over 12 rolling quarters, are available for spending. As the corpus grows, so too does the amount available to spend or grant.
The Community Foundation is a granting organization that funds other non-profits' programs and services through an application process.
The Community Foundation is a "collection" of permanent endowments designed to meet all a donor's individualized charitable goals through one simple vehicle.
