1.	Q	What is Community Foundation?
	A	Community Foundation of North Texas is a collection of endowment funds and other gifts, contributed by many individual citizens, corporations, other foundations, other charitable organizations, and government agencies to benefit worthy causes in our community.
2.	Q	What do you mean by "our community"?
	A	This refers to worthy causes anywhere in the United States.
3.	Q	How old is Community Foundation?
	A	Community Foundation was organized in 1981 as Community Trust, a division of United Way of Metropolitan Tarrant County. In August, 1989, Community Trust became an independent, incorporated public charity and in 1999 changed its name to Community Foundation of North Texas.
4.	Q	Where did Community Foundations get their start in this country?
	A	The first community foundation was established in Cleveland, Ohio, 1914. Oddly enough, it was started by a major Cleveland bank to handle the responsibility for distributing the income from the bank's charitable trust funds.
5.	Q	What has happened to Community Foundations during the last 90 plus years?
	A	Community foundations are the fastest growing sector of philanthropy today. There are nearly 700 of them in communities all across the United States holding approximately $39.4 billion in assets. The community foundation model has spread throughout the world, including the Caribbean, Australia and New Zealand, Canada and Mexico, Eastern and Western Europe, Russia, and the former Soviet Republics and is rapidly expanding across Africa.
6.	Q	What has been the growth of Community Foundation of North Texas?
	A.	The growth of our community foundation has been steady, as we have accepted both permanent or endowment funds, as well as funds which are immediately passed to other charities. Our first permanent fund was established in 1982. In 1985, Community Foundation received its largest gift, a $12 million endowment fund benefiting 13 non-profit agencies in Tarrant County. Today, the assets of the Foundation are over $129 million, and we have distributed more than $83 million in grants to benefit worthy causes.
7.	Q	What are the advantages to the donor in establishing a fund with Community Foundation?
	A	1) Flexibility - A donor can make one gift to satisfy a variety of personal charitable needs. 2) Tax Advantages - Assets contributed to the Community Foundation qualify for maximum tax deductibility. 3) Convenience - A fund can usually be opened with one brief meeting, with the foundation handling all government reports, legal questions, and audit requirements, as well as monitoring results of charitable projects. 4) Independence - An 18-member board, made up of community leaders, directs the programs of the Community Foundation. Their only interest is the ongoing needs of the community. 5) Economy and Efficiency - With over $123 million in assets, our Community Foundation enjoys economies of scale, and administrative fees are kept at a minimum. 6) Administration - You receive only one contribution acknowledgment for tax purposes rather than one for each agency supported. Community Foundation keeps all required files and prepares all necessary government reports. 7) Permanence - Donors are assured that their funds will continue to function according to their wishes for years to come.
8.	Q	What different types of funds can be established with the Foundation?
	A	1) Unrestricted Funds - are used to respond to new and emerging needs and innovative services in the community, as determined by the Community Foundation Board of Directors. 2) Field of Interest Funds - directed to a particular charitable endeavor, such as cancer treatment, education, arts, youth services, etc. 3) Designated Funds - go to one or more specific charitable organizations, as directed by the donor. 4) Donor Advised Funds - distributed to charitable organizations as recommended by the donor. 5) Agency Endowments - Charitable organization gives its endowment to Community Foundation to manage with the agency receiving annual earnings.
9.	Q	What are the different ways donors may use in establishing a fund with Community Foundation?
	A.	1) Cash - You establish your named fund with Community Foundation and write a check to it whenever appropriate. 2) Securities or Real Estate -You can give gifts of appreciated property - stocks, bonds or real estate that are worth more now than when you acquired them. You avoid capital gains tax, get the maximum tax deduction, and can even spread any surplus deduction over 5 years, if necessary. 3) Life Income Agreement - You establish a charitable trust which pays you, your spouse, and possibly even an heir, income for life. You get a tax deduction at the time of the gift, your gift and estate taxes will be reduced and the community will benefit when the remainder comes to the Foundation. 4) Life Estate Agreement - You can deed your home to Community Foundation now and retain the right for you and your spouse to live in your home for life. You get an income tax deduction now, a reduction in gift and estate taxes later, and the Foundation will receive your house at the survivor's death to be sold or used for charitable purposes. 5) Bequest or Will - You provide that Community Foundation will receive a specified portion or the remaining assets of your estate to be used for charitable purposes. 6) Other Methods - There are many other ways to make gifts to Community Foundation such as life insurance, pooled income fund, charitable lead trust, etc. Donors are urged to consult their own tax advisors on any gift to Community Foundation or any other charity.
10.	Q	How can I find out more about Community Foundation or any other information on charitable giving?
	A	Call, write, fax or e-mail: Homer M. Dowd, President Community Foundation of North Texas 306 West 7th Street, Suite 306 Fort Worth, TX 76102 Phone (817) 877-0702 Fax (817) 877-1215 e-mail hdowd@cfntx.org

Fort Worth Club Building 306 West 7th Street, Suite 306 Fort Worth, Texas 76102 Telephone 817/877-0702 Fax 817/877-1215

Last updated 09 April 2008