Many people have a vision of what will make our community a better place to live. If your vision is to help needy children, support the arts, protect animals, or preserve the environment, consider establishing a Field-of-Interest Fund dedicated to that purpose. Whether you care about a specific neighborhood, city, or county, you can define your field of interest. Whatever your passion or charitable purpose, CFMT can assist you in making it a reality. Your vision will create a lasting impact for generations, strengthening our community and making a difference forever.
How It Works
- Make a Gift: Begin by making a gift to CFMT. Your gift can be in the form of cash, publicly traded or closely held securities, bequests, planned gifts, insurance, IRAs, Remainder or Lead Trusts, real property, and more.
- Establish a Fund: Set up a Fund dedicated to the charitable purpose you choose. With your initial gift and the completion of an agreement outlining the terms and conditions you envision, your fund is ready to make an impact.
- Receive Tax Benefits: You’ll receive tax benefits in the year the gift is made. Additional gifts can be made at any time that suits you.
- Grant Distribution: Grants can only be awarded to qualified charitable organizations and cannot be used to fulfill personal obligations or pledges.
- Fund Ownership and Tax Deduction: For you to qualify for a tax deduction, CFMT must own the Fund. Grants from the Fund are made in alignment with your charitable intent. Nonprofit organizations can apply for grants, and if their projects align with your goals, CFMT’s Allocation Committee may approve funding. This ensures that the most urgent community needs and promising solutions receive support.
- Professional Administration: Our professional staff manages the administrative details and assists you in achieving your charitable goals, adhering to the policies and procedures of CFMT and the IRS rules.
Financial Facts
- Minimum Gift: Field-of-Interest Funds can be established with a minimum gift of $5,000.
- Endowment and Grantmaking: These funds are endowed, with approximately 5% of the balance used annually for grantmaking.
- Investment Strategy: Our investment strategies are designed to manage risk and ensure steady growth over time.
- Fees: In addition to an annual investment fee, all funds are charged an annual fee of 1.25% to support the community leadership work of CFMT.
How to Get Started
- Discuss Your Fund: Start by discussing a Field-of-Interest Fund with CFMT’s staff.
- Consult Your Tax Advisor: Seek advice from your tax advisor to understand your personal tax implications.
- Make a Gift and Complete the Agreement: Make your gift to CFMT and complete the Fund agreement.
- Join the Community Foundation: Together, we connect generosity with need, creating a lasting impact in our community.
