Professional Advisor FAQs

Why should I encourage my clients to establish a fund at the
Community Foundation?

Developing a charitable plan that takes into account your client's financial and charitable needs is no small task. As a professional advisor, the opportunity to help your clients achieve their philanthropic goals is both a privilege and a challenge. The Community Foundation wants to be a resource for you, as well as a philanthropic partner for your clients. A full understanding of charitable giving options, which can offer specific tax benefits, can help your clients achieve their financial, personal or business goals. The Community Foundation has an outstanding reputation for integrity and service to donors, and has developed unique resources for you to use in helping donors craft their charitable giving plans.

What type of Community Foundation fund can my client establish?

The Community Foundation offers several types of funds to help your client accomplish their charitable goals. Sheryl Aikman and Becky Davis are available to discuss these options with you and help your client select one or more funds that best suit their philanthropic needs.

How do I help my client establish a fund?

It is easy to establish a fund at the Community Foundation. Your clients can simply decide which type of fund best meets their interests and needs, determine their charitable priorities, select a name for the fund and make a contribution. The Community Foundation can typically prepare and complete the written Fund Agreement in less than one hour.

How much money does my client need to establish a fund?

All funds must be established with a minimum $10,000 gift. There is no maximum limit and no set-up fee.

What kind of assets may my client use to open a fund?

Funds may be established with many different types of assets. The Community Foundation staff is experienced at evaluating unusual assets and can accommodate them for charitable purposes.

My client needs to set up a fund quickly. How long does it take?

Charitable giving should warm a donor’s heart, not burden them with tax complications and ongoing administrative details. Once your clients decide on the type of fund they would like to establish, Sheryl Aikman or Becky Davis can set it up with a simple governing document that requires less than an hour to prepare and complete.

May my client select the name of the fund?

Absolutely. Your clients may use their own names, the names of individuals to be honored or memorialized or the name of a business. Some donors select a more general name to retain anonymity.

Does the Community Foundation charge my client a fee to maintain
the fund?

Each fund at the Foundation shares in the total administrative costs of the Foundation. The Foundation charges a very low annual administrative fee ranging from 1% to 3%, depending on the type of fund.

Can my client advise how the fund will be invested?

Yes! The Community Foundation offers different investment pools, and donors may advise the fund be invested in a way that best aligns with their needs and interests.

Why not establish a private foundation?

There are many practical reasons why establishing a charitable fund at the Community Foundation might be better than creating a private foundation. Comparing the two options may provide useful information.

Can you come to my office to meet with my client or to make a presentation about the Community Foundation for my colleagues?

Please email or call the Community Foundation at 828-254-4960 to schedule a time that works best for you and your client.

"My relationship with CFWNC comes down to trust. My clients count on me, and I refer them to CFWNC because I know that they'll be treated with professionalism, respect and kindness, whether they want to discuss a modest bequest or a significant legacy."

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