| |
Private Foundation |
Racine Community Foundation Administrative, General, Designated, Field of Interest, Named, Organization Endowment, Scholarship Funds |
Racine Community Foundation Donor Advised Funds |
| Administration |
Detailed annual filing with IRS |
RCF carries out all record-keeping and accounting |
RCF carries out all record-keeping and accounting |
| Grantmaking Expertise |
For larger foundations, a professional staff |
RCF staff assistance to review and monitor proposals |
RCF staff assistance to review and monitor proposals |
| Control |
Trustees have complete control of distributions and responsiblity for asset management |
RCF Board of Directors responsible for grantmaking to carry out donor's intent and asset management |
Donor advisors recommend grant recipients to RCF Board for approval; Board responsible for managing assets |
| Cost |
Legal and accounting fees, insurance, office space, staff and operational costs |
Economies of scale; predictable, reasonable costs. |
Economies of scale; predictable, reasonable costs. |
| Legal Identity |
Separate nonprofit entity |
(Donor's choice of name) Fund |
(Donor's choice of name) Fund |
| Tax Status |
Private Foundation |
Public Charity |
Public Charity |
| Taxation of Investment Income |
As high as 2% |
None |
None |
| Payout Requirement |
Minimum payout required by tax law |
None |
None |
| Deductibility of Gifts |
Potentially more limited |
Potentially greater in amount |
Potentially greater in amount |
Confirmed in Compliance with National Standards for U.S. Community Foundations.
