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Q. How does giving through CCGF work?
A. You set up a fund at the Foundation with an irrevocable gift (minimum value of $10,000 for non-endowed or $25,000 to $50,000 for an endowed fund). You can make your gift now or through your estate plan. The Foundation invests your gift along with those of other donors, and each year investment returns are added to the principal and a percentage of the fund is set aside for grants. Many donors establish a fund during their lifetime, then arrange to add to the fund upon their death.
Q. Does the Foundation charge fees?
A. Each fund donates an administrative contribution (a percentage of the fund’s assets) that supports CCGF’s mission and allows the Foundation to offer services like grantmaking and gift administration, investment and asset management, and donor education. This contribution varies by the type and size of the fund. Additionally, 1% of each gift to a donor advised fund is granted to our Coastal Community Endowment Fund for unrestsricted grantmaking in the community.
Q. What is the Foundation’s investment policy?
A. The Foundation invests its assets for the support of current and future generations. This is accomplished using a diversified asset allocation strategy oriented towards higher return assets, non-endowed donor advised funds generally are kept in cash and cash equivalents, including a money market fund held by Bank of America and CD's held locally. Endowed funds are placed into the long-term investment pool with an asset allocation strategy of 70% equities and 30% fixed
Q. Is there a giving option that helps the Foundation address Coastal Georgia’s needs as they arise?
A. Field of interest and unrestricted endowment funds leave the annual grantmaking decisions to CCGF to respond to pressing community needs. It’s a wonderful way to ensure that your gift remains relevant over time.
Q. Can I specify how my gift is to be used?
A. Yes. An advised fund allows you to review your giving and recommend grants to any IRS qualified charity you wish to help. A designated fund is established to help the organization(s) you specify when you create the fund.
Q. Can my children continue to advise the funds?
A. Yes. An advised fund can help nurture a lasting philanthropic spirit in your family. You may name two generations of successors to advise grants from the fund you establish.
Q. How does CCGF differ from commercial charitable gift funds?
A. Many financial institutions offer “charitable gift funds,” which are similar in some respects to the funds offered by the Foundation: you give money, you get a tax advantage, and the institution handles all of the paperwork associated with your fund’s transactions. Indeed, if your primary concern is ease in transacting grants, then a charitable gift fund may be right for you. The Foundation can offer much more, though. We are a true resource for Coastal Georgia-focused philanthropists. We help you understand the most pressing issues facing our region, and point you to where your grants can make a real difference. We find the organizations that are doing outstanding and innovative work. We spearhead area-wide initiatives and invite you to participate. We connect you with other Coastal Georgia-focused philanthropists and help you signal others to build the region’s charitable capital. In short, we go far beyond transacting grants and managing your charitable investment. Our “business” is helping Coastal Georgia-focused philanthropists like you have lasting impact.
Q. How will I know my wishes will be followed?
A. At the time a fund is established, and throughout the life of the fund we make sure we understand what your wishes are, and ensure that your charitable interests are followed. We take stewardship of funds very seriously.
Q. Do I have to give cash?
A. No. Many donors give appreciated stock or real estate to maximize their tax benefits. You can also earmark IRAs or pensions to CCGF, or even purchase life insurance that names CCGF as the beneficiary. Almost any asset of appreciable value can be transferred to the Foundation.
Q. Can I give out-of-state as well as in Georgia?
A. Yes, as long as the recipient is a qualified charity.
Q. I’d like to set up a fund. But I can’t afford a large fund now. Can small gifts make a difference?
A. Absolutely. Many of the Foundation’s funds started modestly with an Acorn Fund (minimum of $1,000). You can also make a gift to the Coastal Georgia Community Impact Fund, which pools contributions to be awarded as grants each year to many organizations across the Coastal Georgia region.
Q. I’m interested in establishing a memorial fund. Can I name the fund?
A. Of course. You choose the name for any fund you establish, but can still choose to give anonymously from that fund, if you prefer.
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