Donor Information
How to Create a Fund
Once you've discovered how affordable and financially advantageous charitable giving can be, you may be surprised. Before making any large decision about your financial or charitable wishes, MACF suggests you consult with your financial advisor, accountant or attorney. These professionals can help you better understand how your personal situation may improve and your charitable dreams can be realized by setting up a fund at our community foundation.
MACF believes that the process to establish to a new donor fund should be very straightforward for the donor. In fact, it's one of the biggest advantages of making a donation to MACF. When you're ready to begin, simply contact us and we'll walk you through the following steps:
1. Choose When to Give
You can create a fund during your lifetime, in your estate plan, or through a trust arrangement that benefits your family and favorite charities. Tax deductions are earned at the time of the gift, while grant making continues into the future.
2. Choose What to Give
You can start your fund with almost any kind of asset: cash, publicly traded securities, closely held stock, interests in limited partnerships, real estate, or tangible property. Gifts of long-term appreciated property earn tax deductions for their full present market value.
3. Choose a Name
Every grant from your fund carries its name. Many people choose to name their fund for the donor, for the donor's family, or as a memorial to someone special. Of course, you can also remain anonymous.
Ways to Give
- Cash
- Securities
- Life Insurance
- Charitable Remainder Trusts and Charitable Lead Trusts
- Transfer of Charitable Trusts
- Private Foundation Transfers
- Corporate Giving
- Bequests
- Other
Contributions of Real Estate, Tangible Personal Property, Closely Held Stock, Patents and Copyrights, Surplus Business Inventory, etc. are other ways of creating a fund within the Foundation.
Types of Funds
Designated Endowment Funds allow donors to direct their gift to a specific charity, to forever benefit that organization.
Donor-Advised Funds allow a donor to remain actively involved in their charitable giving. From time to time, the donor or an advisor of their choice may suggest who is to benefit from a specific gift.
Field of Interest Funds can be donor directed for a particular purpose, such as childcare or art education. MACF then selects the specific non-profit organizations that best serve the fund's charitable intent.
Organization Endowment Funds allow non-profit organizations to create permanent endowment funds. MACF handles all of the administrative and investment responsibilities, freeing the organization to pursue its mission.
Scholarship Funds allow a donor to help a group of students at a specific educational institution or in a particular curriculum pay for part or all of their education. The donor can be involved in establishing the selection criteria.
Unrestricted Funds remain in perpetuity to address needs within the Mattoon are as they change over time. A community based committee reviews and approves grants, then makes them in a specific fund's name.
Financial Management
MACF takes its fiduciary responsibility to safeguard and grow funding for the greater good very seriously. Our legacy as a philanthropic leader and current role as a savings account for the community dictates the oversight of a well-reasoned investment philosophy. MACF's Board of Directors has adopted a detailed set of investment policies and guidelines, which are summarized below.
Full audited financial statements and the Form 990 filed with the Internal Revenue Service are available for public inspection in the offices of the Mattoon Area Community Foundation.
The names of our investment managers, fees charged, and the individuals on our Investment Committee who are responsible for investment oversight are available upon request.
COSTS
Similar
to other types of investment managers, as a community foundation
MACF does not charge any upfront fees to donors. Instead, MACF
retains an annual management fee determined by the total volume
of assets under management in any one fund.
These fees are not inclusive of the investment management fees and the internal management fees charged by mutual funds. MACF will endeavor, at all times; to negotiate the lowest fees possible using the collective buying power of the pooled accounts.
CURRENT FUNDS
All of these funds gratefully accept contributions for their growth!
The Mattoon Area Community Foundation is a unique philanthropic resource for Central Illinois, helping charities and donors work together more effectively.
Mattoon Area Community Foundation exists to support two essential pieces of the fabric of our community: local charities working to improve the quality of life for our community and donors who generously give financial contributions to support the causes they care about.
We endeavor to administer and distribute philanthropic funds for the benefit of the Mattoon area residents. Mattoon Area Community Foundation serves as the custodian for a variety of funds, benefiting a wide-range of charities while meeting the wishes of today's donor.
- Arland D. Williams Scholarship Fund
- Mattoon Area Community Foundation Endowment Fund
- Mattoon Foundation for Academic Excellence Fund
- Phipps Family Trust
- Mike James Memorial Scholarship Trust
- Consolidated Communication Fund for Economic Development and Community Leadership
- Joe and Betty Schilling Family Charitable Remainder Annuity Trust
- CommunityWorks Endowment Fund
- Coles County Council on Aging Endowment Fund
- Mattoon Public Library Endowment Fund
