This avoids the need for you to set up your own private foundation and significantly reduces the administrative reporting, legal requirements, and cost. Our purpose in offering this fund is to provide another option for you as we move forward with announcing our major gifts campaign. This option will not be a panacea but may attract you if you have an interest in the Central Florida Community College, and also want choices. This option will enable you to provide immediate support for the college and allow you to make an immediate or later decision to support the Community, In any event, your gift to the Donor Advise Fund will give you an immediate tax deduction. To establish a fund , you will need complete a simple application form.
All gifts immediately qualify for a tax deduction.
For the non-CFCC portion, an individual account will be established in your name. The CFCC portion of the your gift is treated exactly like any other Foundation gift. Quarterly status reports will be given to each donor. One life or maximum of 20 years, whichever is less The Foundation Board reserves the right, with a 60 day notice to the donor, to close any non-CFCC account if there are insufficient funds to maintain the account. Any proceeds remaining in the non-CFCC account at the end of its life cycle will automatically be converted to the general Foundation Endowment Account, and may be eligible for state match funds.