What Are the Benefits of Starting A Fund Through The New Albany Community Foundation?

Tax Advantages. Gifts and bequests made to the New Albany Community Foundation are eligible for the maximum charitable income and estate tax deduction.

Continued Impact. A fund creates a “charitable savings account” and the investment income and/or principal from the fund may be used to make grants to worthy causes or other nonprofit organizations.

Expertise. The New Albany Community Foundation is continuously aware of the changing needs and aspirations within the community as well as the various nonprofit organizations whose missions are designed to meet those needs. We can provide assistance in directing grants to qualified organizations to best meet the donor’s goals and to leverage dollars with other groups whose missions are aligned.

Permanence & Continuity. An endowment is an effective way to leave a lasting legacy and have a continued, positive impact in the community in whatever areas of interest you may desire.

Recognition. Each grant may recognize the donor’s fund as the source, unless the donor wishes to remain anonymous. In addition, the Foundation may recognize the fund and gifts through its annual donor report, the web site or other sources of information.

Convenience. Unlike a private foundation, there are no start-up costs or excise taxes. Moreover, the New Albany Community Foundation, through its affiliation with The Columbus Foundation, manages the invested fund assets, issues quarterly financial reports and files federal and state tax returns for all component funds.

Stewardship. The New Albany Community Foundation plays an active stewardship role in assisting local organizations to maximize their capacity to serve the community.