Are there any tax benefits to converting my foundation to a donor advised fund with the NCCF? Yes. New gifts to your fund at NCCF will provide much more attractive tax deductions and more options for tax savings.
Is my fund’s information confidential at the NCCF? Yes. A donor advised fund at the NCCF can be completely anonymous. You can determine which – or whether – your grants are public and which ones remain anonymous. The NCCF files its 990 as a compilation of more than 1,000 funds under its administration, and no third party can access information about your fund’s assets, advisors, grants etc.
Will I be required to distribute 5% of my fund’s earnings every year? No. The NCCF is a community foundation so is not legally bound by the 5% annual pay-out regulation that governs private foundations.
Will I be able to keep my broker and investment manager? This is negotiable, depending on your fund’s asset size.
Can my private foundation keep its name after converting to a donor advised fund? Yes. Families, individuals, businesses and organizations can utilize the same name they have been using (ex: The John and Mary Smith Family Foundation or the Greystone Company Fund)
Can the same advisors remain involved, even if they are family members? Yes. Your committee or advisors can remain intact. (Scholarship funds, however, have regulations regarding selection committees.)
Can I plan for my fund’s successors with a community foundation structure? Absolutely. The NCCF will document and follow the intent you specify for your fund, including your wishes for the involvement of future generations.
What are the minimum amounts required to open funds? The minimum amount to open an endowment, as of July 1, is $25,000 and $40,000 for a scholarship.
How much does it cost? In general, NCCF’s fees do not exceed 2.0 percent of the fund’s average balance, with some types of funds charging only 1 percent of the average balance. Fees for funds in excess of $1 million are negotiated.
What services does the NCCF provide? All fund-holders and foundations at NCCF can choose from a menu of services without any extra charge. These include but are not limited to: investment management, financial reporting, grantmaking, planned giving, marketing and overall administration of the fund.
Who can I contact to get more information? Please contact Beth Boney Jenkins, Vice President for Development, at 919-828-4387. Professional advisors may contact Mary Morgan, Philanthropy Counsel, at 919-828-4387.