Frequently Asked Questions

1. What advantages will I enjoy with a Fund?

   Consider these benefits: The Community Foundation for Greater Atlanta, Inc, with public charity status, offers the maximum tax advantage allowed by the federal tax laws. Your contribution to a fund here may receive a higher deduction than the same gift to a private foundation. In addition, our staff provides personalized attention to donors; our Donors Relations staff works directly with individual donors to meet your philanthropic needs.

2. What kinds of assets can I use to create a Fund or add to a Fund?

   Several options are available to you and we would be happy to discuss each option and its advantages with you personally:

   • Cash
   • Securities
   • Real Estate
   • Interests in Privately Held Corporations, LLCs, and Limited Partnerships
   • Insurance Policies

3. Are there options for me if I can not afford to part with my assets or income right now?

   Absolutely! Through deferred giving vehicles such as charitable remainder trusts and annuity trusts, gift annuities or the pooled income fund, you can plan to create a fund in the future while receiving current year tax deductions. Some arrangements may even help to increase your current income, help you diversify your portfolio and avoid capital gains, gift or estate taxes. Of course, you can also make a bequest through your will.

4. Is it possible to give up income right now but reserve the assets for later in my life?

   Yes, you can do that through a charitable lead trust. The trust would provide income to your Fund during the term of the trust. At the end of the trust, you or your heirs can receive the assets and avoid estate and/or gift taxes.

5. How are Funds managed?

   Funds are managed by several outside investment firms in a diversified investment portfolio structure. Investment performance and management are regularly reviewed by the Investment Committee of the Foundation. If you would like the names of our investment managers, fees charged or a list of the Investment Committee members, please call or send an e-mail to Olen Earl, Director of Gift Planning at 404-688-5525.

6. How much do I need to start a fund?

   You may begin a fund with $5,000 while building toward a goal of $50,000.

7. How are grants made?

   Those with donor advised funds communicate with us regularly to recommend grants to their favorite charities. Others prefer that the Foundation, through an unrestricted fund or a fund designated for a field of interest, make that decision based on community needs.

8. Would establishing a private foundation make sense for me?

   A private foundation works for some people but it can involve several months of application to government agencies and ongoing administrative burden. It can be expensive to administer, burdensome to successive generations, and require observance of rules and regulations some donors find limiting. For instance, private foundations must file a separate tax return, pay excise tax and meet a pay-out requirement.

9. There are so many ways to give. How can I decide which is best for me?

   We suggest that you consult your tax advisors or attorney to determine which giving opportunity is best for you. The next step may be to open a fund at the Community Foundation for Greater Atlanta or to complete a deferred gift. The deduction you get for charitable giving is now more important than ever.

   If you or your advisor need more information about The Community Foundation for Greater Atlanta or gift opportunities, call or e-mail Olen Earl, Director of Gift Planning at 404-688-5525.