Why Partner with SCF?
Simplicity. Creating a charitable fund at Solano Community Foundation is the easy, low-cost alternative to forming and administering your own tax-exempt organization.
Asset Security. If you are forming your own 501(C)(3) organization, or are awaiting IRS approval of your Form 1023 Application for tax-exempt status, having a charitable fund at the Foundation allows donors to make tax-exempt contributions immediately, and insures asset security.
Agency Funds. Nonprofits may establish an “Agency Fund” – a partnership in which the fund assets are held by SCF but are not considered SCF assets. Grants made from the fund can be made to the nonprofit fundholder or any nonprofit.
Tax benefits. 100% tax-deductible as no goods or services are provided for the gift. Donors determine the amount they claim as a deduction when filing their own personal or business taxes.
Flexibility. We accept a wide variety of gifts - including cash, stocks, real estate, and other assets.
Community impact. help you understand community needs, assess local organizations, and can assist you in directing gift dollars to high-impact areas.
Stability. We are a professional organization with proven credibility that exceeds national standards of performance for investment practices, donor services, compliance and accountability, and grant making processes.
You receive personalized service. We work closely with you to develop a giving approach that matches your personal interests. When you establish a charitable fund with us you remain actively involved in recommending grants for your fund. We take care of processing and sending out the grant award check and award letter. You receive a copy of each letter, and a quarterly fund statement with fund activity information.
You know who your donors are. “thank you” in the form of a Gift Acknowledgement Letter, and it includes our tax-exempt ID. You get a copy of the letter we send you that you know about the gift, and have their contact information in case you want to send a personal thank you.
You help support community leadership. s a fundholder, you are directly supporting the Foundation’s efforts to build capacity for local nonprofits serving their communities. Your fund helps support our ability to develop our grantmaking programs, conduct leadership training, and improve our role as a vehicle for philanthropy in Solano County. We bring people and organizations together, convening diverse voices to address local issues and opportunities. Our business is building community.
WHAT IS THE BENEFIT FOR DONORS?
Donors can help design gift plans that achieve their philanthropic passions, meet diverse economic situations, and maximize their tax deductions. They also can take advantage of briefings on important issues from foundation staff, get advice on particular charities, and become part of a charitable community that increases their effectiveness and impact.
HOW DO COMMUNITY FOUNDATIONS ACQUIRE CHARITABLE ASSETS?
Charitable funds are set up in community foundations by individuals and institutions. They can be established with a wide variety of assets—including cash, real estate, stock, and artwork. Gifts come from living donors and through wills, bequests and other planned gift instruments. In the United States, community foundations hold approximately $49.5 billion in assets. Last year, they received an estimated $5.5 billion in donations from individuals, corporations, government agencies, and other foundations.