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Having a named Donor Advised Fund at Truman Heartland Community Foundation helps you become strategic in your giving and receive tax benefits while your investments have the opportunity to grow and allow you to better support the charities close to your heart.
Benefits of a DAF
- Simplifies your charitable giving recordkeeping
- Allows you to bunch your charitable giving for maximum tax benefits
- Can be added at any time to receive an immediate tax deduction (up to 60% off adjusted gross income for cash and up to 30% for appreciated assets)
- It is an effective tool to gift non-liquid assets like appreciated stocks or real estate
- Helps you involve your children and grandchildren in your giving
- Gives you access to our highly-trained staff to create an effective giving strategy
- It is an effective estate planning vehicle to support multiple causes through one fund
- Gives you the opportunity to give anonymously, if desired
- It can be started with an initial gift of just $5,000
Helpful Documents
Charitable Bunching
What is a Donor Advised Fund?
Private Foundation vs. DAF
A scholarship fund at Truman Heartland Community Foundation couples your dreams with the Foundation's expertise in scholarship administration to provide the support students need to follow their dreams and work toward a brighter future. By investing in area students, you are elevating the economic standing of families in our community and making an impact for generations to come. A scholarship fund requires a commitment to endow the fund at our endowment threshold of $25,000 over a reasonable period of time ($5,000 minimum gift to start a fund).
- We create the scholarship application
- We publicize its availability
- We coordinate the selection process
- We send award letters
- We process payments
- We track student performance to ensure that the recipients continue to meet the terms of renewable scholarship support
Administration Options
Advisory Committee: You choose members to serve on an Advisory Committee, along with one THCF representative, and review all eligible scholarship applications. Then the committee makes recommendations to the Truman Heartland Board to award scholarships to deserving students.
Foundation Selection: Truman Heartland's Scholarship Committee reviews all eligible scholarship applications and makes the scholarship award selections.
Helpful Documents
Because you cannot know the needs of our communities in 5, 10, 50 years, or beyond, the Truman Heartland Community Foundation (THCF) community grantmaking committee steps in to steward gifts in our undesignated community grants fund.
Made up of active community members from our Board of Directors and community Advisory Boards, the Community Grants Committee makes informed funding decisions to benefit charities that apply during the annual community grants process. After grant proposal review, onsite visits, and much research, the committee stewards undesignated gifts to the charities that are currently serving pressing needs in the community.
Requires a commitment to endow the fund at our endowment threshold of $25,000 over a reasonable period of time ($5,000 minimum gift to start a fund).
Learn more about the Competitive Grantmaking Process.
A field of interest fund (FOI) is a community grantmaking fund that allows you to make an impact in specific fields over time. You identify a specific or broad interest area (such as education, the arts, or animal welfare), and the THCF Community Grants Committee (or your advisory committee) ensures effective grantmaking within that field. This type of fund allows your grantmaking to evolve as the needs within the field do and gives you peace of mind knowing that THCF will be there to identify the best nonprofits in the issue area you have selected to ensure your legacy.
Benefits of an FOI
- Flexible grant recipients within your favorite cause area
- Ability to name an advisory board
- Due diligence by THCF's Grants Committee to ensure the top non-profits in the specific field of interest are grant recipients
- Ability to utilize tax benefits in highly taxable years
- Potential capital gains tax avoidance for gifts of long-term appreciated securities or other appreciated assets
- Fund professionally invested through THCF or your personal trusted financial advisor
- Anonymous grants are possible
- Requires a commitment to endow the fund at our endowment threshold of $25,000 over a reasonable period of time ($5,000 minimum gift to start a fund)
Learn more about the Competitive Grantmaking Process.
Do you bleed black and gold...or possibly crimson and blue? If you have a favorite charity that you are loyal to through and through, a designated fund might be for you.
Designated Funds are designated to benefit a specific charity. Stewarded by our Board of Directors, you can specify the impact area of your grant awards at your designated charity or leave it up to the benefiting organization.
Benefits of a Designated Fund
- Ability to name one or more benefiting organizations
- Perpetual grant awards
- Comfort in knowing that THCF is monitoring grant award recipients
- Ability to utilize tax benefits in years subject to high tax rates
- Potential capital gains tax avoidance for gifts of long-term appreciated securities or other appreciated assets
- Fund professionally invested through THCF or your personal trusted financial advisor
- Anonymous grants are possible
- Requires a commitment to endow the fund at our endowment threshold of $25,000 over a reasonable period of time ($5,000 minimum gift to start a fund)
With endowed designated funds, benefiting charities value the perpetual stream of income a designated fund provides. If your favorite charity ceases to exist, THCF will ensure that the funds are redirected to an organization meeting your charitable intent so that your generosity will continue to benefit the community in the way that you envisioned.
We can help you create a nonprofit fund for your organization to support your work in perpetuity, save for a major project, or plan for an emergency. Through an organizational master fund, we can segregate your multiple funds at THCF while giving you the benefit of maximum returns, minimum fees, and planned giving support.
You determine how much you would like to invest and work with our staff to set up a fund in your organization's name. It's that simple.
Why Choose THCF?
- We handle the investment management and administration responsibilities related to your funds
- THCF accepts and processes gifts of assets that require special processing and expertise
- We offer charitable gift annuities to benefit your fund.
- Planned giving support and seminars are provided by THCF staff
- Online Giving Portal is available from our website to allow donors to add to your funds
- An initial minimum gift of $5,000
We'll manage all the administrative tasks, including investment management and tax receipting. You'll receive a regular fund statement. Earnings from your endowment fund are yours to use for your organization's charitable work. Donors may add to nonprofit funds at any time.
There are many ways you can support the Foundation's special initiative work. When you join the Foundation Fan Club, your annual gift allows us to continue to provide programs that create a positive impact today and well into the future.
Foundation Fan Club support keeps our Youth Advisory Council (YAC) free for all interested students. YAC is the Foundation's "school of philanthropy" and teaches student leaders from numerous local high schools the importance of giving back. YAC offers students the opportunity to gain valuable hands-on experience in fundraising, grantmaking, and volunteering in a positive, non-competitive environment.
Fan Club donations help strengthen our community initiatives. As a respected philanthropic leader, Truman Heartland is a catalyst for change. We partner with agencies throughout the region on initiatives that promote collaboration. This work helps us leverage additional resources and ensure Eastern Jackson County and the surrounding communities are prepared to meet the changing needs of our region.
Perks for Fan Club Members
As a Fan Club member, you join a loyal group of people whose generosity helps engage students and community members in the work of the Community Foundation. Plus, you and your family will be invited to attend our Annual Holiday Reception in December and be recognized in our Annual Report for your level of support.
The Sustainability Fund for Truman Heartland Community Foundation is our permanent endowment, which provides operational support for us to build a better community far into the future.
A fully-funded Sustainability Fund will provide Truman Heartland with $300,000 in annual support for operations. This will offset the operational burden currently covered by our Undesignated Endowment Fund and the Toast to Our Towns Gala; this will afford Truman Heartland to award more grants through our annual competitive grants program and make a greater impact in our communities.
How You Can Support the Sustainability Fund
- Use your Qualified Charitable Distribution to satisfy your IRA and Required Minimum Distribution (RMD),
- Name the THCF Sustainability Fund in your legacy plans,
- Make a grant from your Donor Advised Fund.