What is The Community Foundation of Louisville?
We are a collection of more than 1,100 charitable funds created by individuals, families, companies, and nonprofit groups to benefit charitable organizations and causes throughout our community and beyond.

What is a community foundation?
A community foundation is a flexible, yet permanent collection of funds that makes grants to support charitable organizations and causes. Community foundations go beyond simple grantmaking – they also identify current and emerging issues, channel resources to address their communities’ needs, and help their regions prepare for the future. There are more than 700 community foundations across the United States.

How are you different from a commercial gift fund, like Fidelity?
The Community Foundation offers more ways to give than a commercial gift fund. The Community Foundation also offers the local, professional expertise of our staff to help connect you to the community causes you care about.  Perhaps the biggest difference is this: the Community Foundation is in business to inspire philanthropy and strengthen communities. Commercial gift funds are in business primarily to manage money and profit from fees.

What is the advantage of a community foundation over a private foundation?
A fund at the Community Foundation is generally less costly, in terms of both time and money, to establish than a private foundation. The Foundation can help you establish a fund in a matter of days and handles all the administrative details. Establishing a private foundation can take months or longer, and you are responsible for substantial legal, accounting and operational matters.

Why would I establish a fund at The Community Foundation of Louisville instead of making donations directly to the charities themselves?

Flexible giving. When you create a Community Foundation fund, you have the flexibility to support multiple charitable organizations with a single gift, and the Foundation can accept a wide variety of assets, from cash and securities to real property and closely held stock. 

Timeliness. You can make your gift to the Foundation when it is most tax-advantageous, and retain the ability to recommend grants to support your favorite causes at a later time.

Efficiency. The Foundation handles all of the administration, record keeping, and financial statements for your charitable giving.

Anonymity. You have the option to make all of your grants anonymously, or on a grant-by-grant basis.

Permanence. You may want to provide ongoing support to a particular organization in perpetuity. You can easily do this during your lifetime – and beyond – through an endowment fund. Our professional staff is dedicated to making sure your charitable wishes are met.

What kind of assets can I contribute?
The Community Foundation can accept a wide variety of assets, from cash and securities to real property and closely held stock. All gifts are subject to our Gift Acceptance Policy.

What are the costs involved in establishing and maintaining a fund?
There is no cost to set up a Community Foundation fund, and Depository funds have no administrative fees. Endowment funds are charged an administrative fee based on the type of fund, as well as an investment management fee (approximately 45 basis points).

Can other people contribute to the fund I establish?
Yes, anyone can contribute to a Community Foundation fund, and all are tax-deductible charitable contributions.

How are the funds invested?
The Community Foundation offers a selection of Investment Options for your endowment fund, based on your long-term charitable goals. All are overseen by the Foundation’s Investment Committee in consultation with our professional investment advisor, Fourth Street Investment Partners.

Can I make a gift to the Foundation and retain income for myself or a family member?
Yes, we offer several opportunities to make life income gifts. We are happy to work with you and your professional advisors to determine which type of gift is right for you.

Can my children or other family members get involved?
Yes, if you choose a donor advised fund, you may name other advisors to continue to guide the fund both while you are involved and far into the future.

Is there a minimum amount for grant distributions?
Yes, each grant must be at least $100.

Can you help me identify charitable organizations or causes to support?
Yes, our professional staff members are available to work with you to help you define your charitable priorities, both now and in the future. We can also research an area of charitable interest or a specific nonprofit organization on your behalf, and even set up a personal visit, if you wish.

Do all grants have to be used locally?
No, grants may be made to any 501(c)(3) public charity, church or school in the United States.

How long does it take to create a fund at the Foundation? 
Generally, we can create a fund in a few days. It’s always best to contact us to determine the timing that may apply in your situation.

What types of charitable funds do you administer?

Donor advised

Field-of-interest

Designated

Unrestricted

Scholarship

What is the minimum amount required to establish a named fund?
Depository Fund: no minimum

Unrestricted Community Fund: $5,000

Donor Advised, Field of Interest, or Designated Fund: $25,000

Scholarship:

                Education Counts fund: $5,000

                Basic Scholarship: $25,000

                Signature Scholarship: $250,000

How do I get started?
Check out our tips on getting started, or contact a member of our Gift Planning staff.

Can I get a refund of a gift made to the foundation?
No, gifts to The Community Foundation of Louisville are irrevocable.

What is the Foundation's policy around donor confidentiality?
The Community Foundation maintains the highest level of confidentiality with respect to donor information.  We will not share donor names, addresses, or fund-related financial information with any individual or organization outside the Community Foundation without express permission from donors.