Advantages

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In a letter to donors, Ed and Fern Hamel, pictured above, who coordinate their giving through a donor advised fund managed by CFHoCo, Richard Bienvenue, executive director of Our House Youth Home writes, “You might not realize it, but if it had not been for your extreme generosity, our guys would continue living in a converted cinder block garage. When you first made a pledge some years back, it got much notice, and other philanthropists saw that we were serious about helping more at-risk kids learn a trade and get their education. So Fern & Ed, I will remember your gifts every time I walk into that building. And I will be proud to tell people that another person from the building trades passed on an opportunity for often called ‘throw-away kids’ to also become proficient in the building trades.”

There are many advantages of starting a charitable fund at the Community Foundation of Howard County.

  • Creating a charitable fund is an easy, low-cost alternative to forming and administering your own private foundation and requires minimal paperwork. We manage investments, process fund distributions and file the appropriate tax returns. Our expert and professional management of your fund makes achieving your giving goals virtually effortless.
  • Since we are recognized by the Internal Revenue Service as a public charity, any contributions you make are eligible for the maximum tax benefits allowed by law. Receive an immediate tax deduction for the year the gift is made without having to rush into decisions regarding the timing or beneficiary of your gifts.
  • We accept a wide variety of gifts including cash, stocks, real estate and other assets. We can help you create a fund that addresses virtually any charitable purpose. You can choose to receive public recognition or remain anonymous. And you can make grants to a variety of organizations and add to any fund at any time.
  • Enjoy the advantages of having your fund be part of an actively managed, diversified investment portfolio with professional staff available to answer questions, identify community needs and screen grant requests.
  • As a donor, you can work directly with our professional staff; they will help you understand community needs and issues, assess local organizations and direct gift dollars to high-impact nonprofits and programs.
  • Community foundations are professional organizations that meet published standards of performance for investment practices, donor services and grantmaking practices. Yearly auditing, public disclosure of all grant activities and careful selection of board members assure continued use of funds in the public interest as donors have determined. The Community Foundation of Howard County has continually met or exceeded the Council on Foundation’s rigorous National Standards.
  • Our staff is always available to help you build a permanent legacy through your giving. Endowed funds will serve your charitable interests now and for generations to come because the principal of the fund is never spent. An endowed fund lasts forever – a permanent testament to your compassion and a lasting resource for your community.