What is a community foundation?
A community foundation is a tax-exempt nonprofit composed primarily of permanent funds established by many separate donors for the long-term benefit of the residents of a defined geographic area.
As a statewide community foundation, OCF is governed by a volunteer board of directors. We administer more than 1,700 permanent charitable funds on behalf of individuals, families, businesses and organizations who wish to support humanitarian, educational and cultural programs.
Why should I create a fund at OCF?
Creating a fund at OCF makes it easy and satisfying to fulfill your philanthropic wishes. Additional benefits include tax advantages, a professionally managed portfolio, and access to the support and expertise of our professional staff.
Why should I create a fund at OCF instead of donating directly to an organization?
The OCF staff performs due diligence on each organization, and our work with other donors and organizations often allows us to identify a need within the community that fits with your philanthropic goals. Also, with our donor-advised funds, you are giving directly to an organization when you make your own grant recommendations.
What types of funds does OCF offer?
We offer advised, designated, scholarship, discretionary, field of interest and endowment partner funds.
How much money do I need to start a fund?
An advised fund requires a gift or bequest of $25,000. Other types of permanent funds require a minimum of $50,000. Alternatively, you can enter into an agreement with OCF to create a step-up fund with an initial gift of $5,000, and gradually build assets toward a permanent fund.
What assets can I contribute to a fund?
We accept gifts of cash, real estate, securities and personal property. Bequests by will of cash or property, and life insurance or retirement plan assets that name OCF as the beneficiary, are other possible contributions.
Is there a minimum amount for a grant?
We recommend individual grants of at least $1,000, but $250 is the minimum.
May I set up an anonymous fund?
Yes. Simply let us know when you submit your grant recommendations that you would like to remain anonymous.
What types of organizations may I recommend for grants?
You may recommend qualified nonprofit public charities, schools and government programs.
Can I recommend a grant to an individual?
OCF does not make grants to individuals, only to qualifying nonprofit public charities.
I want to make grants to a specific type of organization, but I am not familiar with any. Can OCF help me identify some good candidates?
Yes. Our staff can work with you to identify worthy nonprofit organizations that meet your charitable goals.
What fees does OCF charge?
Please review our administrative fees information or contact an OCF philanthropic advisor in your area.
Can I use my fund to pay off a pledge I made to my college?
No. Unfortunately, tax regulations prohibit grants that satisfy personal pledges.
How can I get my children involved?
If your children are of legal age, you can engage them as donor advisors on your advised fund. You can also name them as successors on the fund.