|MYTHS AND REALITIES
The Community Foundation only works with the wealthy.
Any of our existing charitable funds accept gifts from anyone, at any time and in any amount. Establishing a charitable fund takes only $25,000, and may start with an initial $5,000 gift. We are here for anyone who wishes to give at any level. Our role is to assist those who want to give back to their community or to impact the lives of others.
All charitable funds must be ‘endowments’.
While we believe in the community benefit of endowments, we are happy to establish non-endowed funds, if a donor desires. Charitable funds can be established to completely disburse all gifts within a short or long time period.
We can only establish charitable funds that benefit Shelby County, Ohio.
Charitable funds may benefit any charitable organization, cause or geographic area located here or anywhere in the United States. Many donors who want to benefit Shelby County do place their charitable fund here because we are connected to and understand this area. We currently hold funds that were established to benefit organizations or causes outside our county.
The board is able to control all charitable funds so there is a chance my grant requests won’t be honored.
The board is responsible for carrying out the intentions of the donor, as stated in their charitable fund agreements. We keep goodwill with our donors by working with them in their charitable giving. In the rare occurrences when a grant recommendation has been rejected, it was for reasons that conflict with IRS regulations, could jeopardize our 501(c)(3) status or were in opposition to the original purpose of the charitable fund. We also provide oversight, especially for those charitable fund’s whose donors are deceased. We make sure that scholarships go only to students who fit parameters established by the donor, that grants intended for causes go only to organizations serving those causes and that charitable funds stay true to the donor’s intent.