Adams County Community Foundation

News and Events

December 14, 2009 - Annual Meeting and Celebration at The Majestic Theater, 4:30PM to 6:30 PM. Please join us as we honor Adams County Fellows and organize for the coming year.

Grant application now available - Click here for more info.

Emergency Fund Campaign to raise funding for Adams County charities impacted by the PA State budget impasse. Please help keep vital services to children and families open. Mail your tax deductible contribution to ACCF, P. O. Box 4565, Gettysburg, PA 17325. This fund will pay charities to keep programs running and become a permanent endowed fund after the emergency is over.

BEN FRANKLIN FUND

The great patriot and Revolutionary War statesman, Ben Franklin, left a testamentary trust which was to accumulate principal and interest for a period of 200 years, and them be distributed to two designated beneficiaries, namely, the City of Philadelphia and the Commonwealth of Pennsylvania. To give to this fund or to find out more about the many different funds available, click here.

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Advise

Please click here to to download a PDF version of our fund agreement.

Comparison of Community Foundations & Private Foundations

Donor advised funds at our community foundation, either permanent or nonpermanent, are a cost-effective alternative to establishing a private foundation.  Below are benefits of setting up a family or corporate fund at The Foundation:

 

Community Foundations

Private Foundations

Tax treatment of cash gifts         

Deductible up to 50% of adjusted gross income (AGI).

Deductible up to 30% of AGI.

Tax treatment of gifts of appreciated publicly-traded securities

Full market value deduction up to 30% of AGI.

Full market value deduction up to 20% of AGI.

Tax treatment of closely held stock, real estate, or other appreciated property

Full market value deduction up to 30% of AGI.

Deduction limited to donor’s cost basis, up to 20% of AGI.

Excise taxes

None imposed.

1-2% paid annually based upon net income and net realized capital gains (no step up in basis for assets donated to the foundation).

Ease of establishment  -  Timing:

 Immediate. Average of six months to incorporate and file with IRS.

Cost:

None.

Significant legal and accounting expenses.

Required payout

None.  Able to accumulate income toward a sizable project or grant.  Flexibility to hold low yield assets.

Must expend at least 5% annually, regardless of income, investment earnings, or grantmaking needs.

Annual IRS tax returns

No separate tax return required; included in foundation’s consolidated return.

Required to file annual returns including details on all grants, investments, fees, trustee fees, staff salaries, etc.

Privacy and recognition

Donors generally recognized for grants disbursed from their funds, but grants and donors can remain anonymous if preferred.

Tax returns are public records and often are compiled into grant seeker directories.

Grants administration

Donors can serve as grant making advisors, or the Foundation can identify potential recipients, make grant payments, and monitor performance.

Trustees must perform, contract, or hire staff for these services.

General administration and fees

Investment, financial, and administrative management are handled by the foundation.  Total annual fees typically range from 1.0 – 2.5%.

Trustees must perform, contract, or hire staff for these services.  Total annual fees typically range from 3.0 – 5.0%, and may decrease as assets grow.