A community foundation is a tax-exempt public charity created by and for the people in a specific geographic area. It enables people with philanthropic interests to easily and effectively support the community issues they care about either immediately or through their estates. Most community foundation assets are held in separate funds established by local individuals, families, businesses, or charitable institutions. Each fund may have a special purpose, but the Foundation board of directors, representing the community, oversees them all. Community foundations operate in perpetuity, meaning that gifts made to them will continue to grow and provide resources for their own community forever. Community foundations provide leadership, expertise and capital to address issues and serve as a resource for nonprofit, civic, government and philanthropic organizations. The common mission of every community foundation is to enhance the quality of life in the local area.

The first community foundation was established in 1914 by Frederic Goff in Cleveland, Ohio. Goff realized the value of creating a permanent endowment that would benefit citizens in his community for generations to come. “Here is a large sum of money. I want to leave it to be used for the good of the community, but I have no way of knowing what will be the greatest need 50 years from now.” Today there are more than 700 community foundations in the United States and 1800 across the globe that serve as stewards of charitable giving...

The Grant County Community Foundation receives contributions large and small, from every corner of our community. Through wise investment and efficient management, the Foundation reinvests those contributions, generating income used to benefit the community in the form of grants to nonprofit organizations. By providing low-cost administrative services to a variety of donors throughout the four counties, the Grant County Community Foundation is building a permanent pool of endowed funds, while at the same time supporting the donors’ charitable objectives.

The Grant County Community Foundation is governed by a Board of Directors made up of community members. Operating expenses are paid from an annual fund fee, from gifts designated by donors to cover foundation operating and program costs, from grants and from unrestricted funds. Up until 2017, the Foundation was all volunteer.

Your charitable priorities may shift. Certain problems disappear over time and sometimes agencies “go out of business.” Should this happen, the Foundation can direct your funds to an organization performing work that is similar. Through the Grant County Community Foundation, you have the flexibility of addressing a variety of charitable priorities, whether you support one or many different causes, or your interests change over time. A permanent fund in The Grant County Community Foundation is also a safeguard designed to carry out your charitable objectives in perpetuity. We are dedicated to making sure the spirit of your gift remains intact through changing time and circumstance. Donor intent is always our directive.

Most nonprofit organizations have a specific mission. By contrast, a community foundation’s mission is very broad: to improve the quality of life in a given area. The Foundation provides leadership and support to the direct service nonprofit organizations (NPO). This breadth of mission reflects our ability to make grants in any field of interest with a charitable benefit to local communities. This opens philanthropy to a wider group of potential donors as well as focusing on a wider group of nonprofit organizations with whom we partner in improving our communities. Area nonprofits benefit from having a local community foundation because the community foundation keeps money in the community. Community foundations benefit local nonprofits in other ways, too. Besides having local grant money available, some nonprofits ask the community foundation to manage an endowment on their behalf. Such funds are called “agency funds,” which help to ensure the NPO’s sustainability.

As it grows, a community foundation gradually becomes the center for charitable giving in a community. We help make connections between the people who want to give and the people who need their support.

An endowment is a fund that is established to produce annual income for a specific nonprofit or for a specific focus. A typical endowment fund will distribute only the income generated from investments, its principal will never be distributed. A typical distribution rate from an endowment fund is 4% or 5% per year. An endowment fund is likely (though not, of course, certain) to remain permanent as long as principal is never or is only minimally invaded; and as long as the distribution rate, reflects the long-term growth of the investments.

The community foundation adheres to an investment policy established and approved by the Board of Directors. Please see the Grant County Community Foundation Investment Policy guidelines for more information. In every case, the Foundation has the responsibility to act as a fiduciary, always acting in a prudent manner.

We are a publicly-supported non-profit organization, qualified under section 501(c)(3) of the internal revenue code. You should always consult your tax advisor regarding the tax benefits of any financial transaction. Generally, all donations to the Grant County Community Foundation are 100% tax deductible. There are also tax avoidance opportunities available, such as donating IRA Required Minimum Distributions annually.

The IRS requires that donations given to a community foundation become assets of the community foundation. One fund type, a donor-advised fund, allows a donor to make recommendations on distributions from the monies contributed, in order to be tax deductible. The donor enters into a contract with the foundation in which the donor directs the distributions.

All donors should understand that the Foundation’s guiding principle is to honor donors’ wishes regarding gifts given to it subject to current laws and regulations.

The wishes of a donor who establishes a fund are spelled out in an agreement between the donor and the Foundation, and those wishes will be carried out in perpetuity by the Foundation. The Foundation will always follow donor intent except in cases where intent is illegal or in conflict with the Foundation’s mission. In that case, the Foundation would decline to enter into the contract.

The Grant County Community Foundation is a local nonprofit connecting people with the causes they believe in. We do this by ensuring the stewardship of lasting charitable funds, and wise investment of grants made in the four counties (Grant Lunda, Hidalgo, Catron) we serve. The Grant County Community Foundation exists to accomplish the charitable goals of donors by making giving personal, easy, accessible and cost-effective. We enrich the community by connecting generosity with need.

Since 2012, The Grant County Community Foundation has served as a leader, catalyst, and resource for philanthropy in Grant, Hidalgo, Luna and Catron Counties, leveraging our expertise and unique capabilities as a public foundation to identify and address critical but unmet needs.

Agreements are contracts which specify donors wishes. The Foundation will be held to the contract under the law. Should the Foundation cease to exist, the law requires that another community foundation receive the assets and the contracts and act according to the donor’s wishes.

Visit the Council on Foundations at: https://www.cof.org

Any new fund created with GCCF requires a minimum contribution of $5,000.

Almost any kind but the Foundation has the right to decline certain gifts.

Yes. You can name your fund after a loved one, a favorite pet, or anything else you wish.

The Foundation supplies quarterly reports.

No. There are expendable funds. It all depend on the donor’s intent.

Please contact us!