WHO WE ARE
The Richmond Community Foundation is a public trust through which generous individuals, families, civic groups and businesses carry out their charitable giving and where nonprofit organizations and programs seek funding. The Foundation offers donors a flexible range of charitable tools, funds and investment options. We work with donors to plan and manage their giving through personalized service. When you establish a fund at the Richmond Community Foundation, our staff, experience and community knowledge are at your service. We handle all the administrative details and paperwork so you can focus on the rewards of giving.
The Richmond Community Foundation is a vital enabler of good works. We promote effective grant making through deep knowledge of communities we serve while helping donors support the causes they care about most. Although we encourage giving to support activities where donors live and work, we can also disperse funds to nonprofit organizations throughout the United States and the world. The Foundation is a flexible, yet permanent, collection of funds supported by a wide range of donors. Its enduring purpose is to care for and make wise use of those funds to meet today's challenges and anticipate tomorrow's.
The Richmond Community Foundation serves as a Vital Link between community-spirited donors and community needs.
As your partner in philanthropy, we make it easy to give and keep you informed about programs that are working. There are many ways to make a difference. We invite you to partner with us.
We provide our clients a wide array of choices of charitable funds complemented by complete services to manage philanthropy, including investment of charitable funds; information on tax advantages; advice on causes and organizations needing and meriting financial support; connections to specific grantees; administrative services for grant making; and tracking expenditures of grant money. We work behind the scenes to enable our clients to concentrate on the most rewarding part of philanthropy and charitable giving: helping important causes in need. With a sound investment policy and prudent guidance by a Finance and Investment Committee composed of top financial investment professionals, we provide clients with investment strategies that meet defined objectives. For our clients interested in leaving a legacy, we provide services ensuring their philanthropy lives on.
TYPES OF FUNDS
Donor Advised Funds - Because of their flexibility and simplicity, Donor Advised Funds are a popular way for individuals and families to actively engage in philanthropy and support nonprofits in their communities. Donors are able to direct their giving according to their values and interests. When you establish a Donor Advised Fund, the gift assets are converted into charitable dollars for your philanthropy. The Foundation's financial administration, personalized service and grant making expertise are all available whenever you want to recommend contributions or discuss grant making strategies. Learn More...
Corporate Advised Funds - Corporate giving is a reflection of a company's unique culture and values. The Richmond Community Foundation will assist your company with a community grants program tailored to your charitable goals and business. It is a seamless means of outsourcing your corporate giving program. The Foundation can advise on a range of opportunities for your employees to engage with your company's charitable grants program. Learn More...
Agency Funds - An Agency Fund is a safe and simple way for your nonprofit organization to invest in its future. Your donors can be confident that the fund will be professionally managed to build a reliable source of continuing support for your good work. And, the community foundation's economies of scale provide your organization the benefits of a diverse investment portfolio and low investment fees that typically come only with large funds. Learn More...
Field of Interest Funds - A Field of Interest Fund will channel giving to address needs in an important area of community life. A donor targets their contribution to a specific or broad charitable cause or purpose, such as education, health, the environment, civic engagement, and the like. The Foundation selects grantees within that field of interest. Learn More...
Bequests - The simplest way to leave a gift to benefit our community is to make a bequest including specific language in your will or living trust naming Richmond Community Foundation as the recipient of a testamentary gift. This can be a specific dollar amount, a percentage of your estate or what remains after other bequests (including those to family members) are made. Consider using your planned gift to establish an endowment fund at the Foundation and support your favorite causes for years to come. If you choose, the bequest can flow into a donor-advised fund for your children to carry on your family's philanthropy. Learn More...
COMPARE YOUR OPTIONS
Richmond Community Foundation
Commercial Financial Institution
|Establish Strategic Giving Plan
Donor Education & Consultation
Strategies for Family Involvement and Leadership Transition
|All provided.||Varies. Most do not offer personalized advice on the selection of grantees.||Must be arranged and paid for by the private foundation.|
Income Tax Deductions % Limitations on Adjusted Gross Income
|Cash Gifts||Up to 50% of adjusted gross income||Up to 50% of adjusted gross income||Up to 30% of adjusted gross income|
|Publicly-traded securities||Fair market value up to 30% of adjusted gross income.||Fair market value up to 30% of adjusted gross income.||Fair market value up to 20% of adjusted gross income.|
|Real estate, closely-held securities||Fair market value up to 30% of adjusted gross income.||Fair market value up to 30% of adjusted gross income.||Deductible at cost basis up to 20% of adjusted gross income.|
Administration, Taxes and Fees
|Set Up Costs||None||None||Varies|
|Annual Administrative Expense||Up to 2%||Varies||Usually 2-4%|
|Separate Tax Return Required||No||No||Yes|
|5% Annual Distribution Required||No||Varies||Yes|
|Excise Tax on Investment Income||No||No||Yes|
|Anonymity Option Available||Yes||Yes||No|
|Minimum contribution||$10,000||Varies, usually $5,000 - $25,000||None, but smaller private foundations may not be cost-effective.|
Note: Tax laws are subject to change; please review the tax effect of any charitable gift with your tax advisor.