Two to four weeks is normal, although funds have been established in as few as two hours. CFGC qualifies for the maximum tax deductions provided by the Internal Revenue Service. There is no minimum for gifts to established or pass through funds. Each year throughout the United States private foundations are transferred to community foundations to save management costs, excise taxes and administrative burdens. Certainly, you and other people can add to the fund at will.
Many people make contributions in honor of anniversaries, birthdays, and the like.
There is no minimum for a contribution to an existing fund. CFGC turns tax dollars into charitable dollars. There are tax advantages for charitable giving through a community foundation, which can be explored on an individual basis with the donor and his or her financial advisors. From the CFGC, each donor or fund representative receives a quarterly financial statement, professional investment of permanent funds in pooled funds and grantmaking services. Foundation staff act promptly upon your grant requests and can provide philanthropic advice and grantmaking research when needed.