What is a community foundation?
A community foundation is a tax-exempt public charity that is created by and for people in a particular geographic region. It helps people define their philanthropic interests and connects them with the issues that they care more about. Donors can decide whether they accomplish this during their lifetime or through their estates.
The first community foundation was established in 1914 and now nearly 1,000 across the country and the world, and nearly 75 in Ohio alone, are helping to make positive changes in their communities. Founded in 1924, The Troy Foundation is among the top 10 community foundations in Ohio.
Once I establish a fund with the Foundation, can I make additional gifts to the fund?
You can make additional gifts, outright or planned, to the fund at any time.
Can I include the fund in my estate plans?
Yes, and we would be happy to discuss how you can include the Foundation in your estate plans.
Are there fees assessed on the fund?
Yes, each fund will be charged an administrative fee by the Foundation of .8%, and an investment management fee that varies by the individual money manager. Scholarship funds are assessed 1.25%.
What is the spending policy?
The Foundation currently recommends an annual spending policy of 4.0% of the fund’s market value over a rolling eight quarter average.
How do I recommend grants?
Guidelines for making a grant can be found under the “For Donors” tab under “Making Gifts From Your Fund”.
Can I recommend grants outside of Troy?
Yes, you can recommend grants to recognized charitable organizations throughout the United States
How can the Foundation help me determine what non-profits I can support to meet my charitable goals?
The Foundation’s staff is always happy to serve as a resource for any questions you may have regarding the needs within the community and/or about specific non-profit organizations. We can provide you with suggestions for non-profit organizations and/or projects that match your charitable interests.
Can I make international grants?
Grants can only be made to tax-exempt organizations in the United States. Many international organizations have U.S. affiliates that you may be able to recommend a grant distribution to.
Can I contribute to an already existing fund?
Yes. If there is a fund already existing within the framework of the Foundation that benefits an activity or area of particular interest to you, you can make a contribution to that fund and know that you are enhancing something particularly meaningful to you.