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Frequently Asked Questions
What is a community foundation? Who governs The Dayton Foundation? What is the advantage of a community foundation over a private foundation? How does The Dayton Foundation invest fund dollars for growth? How are The Dayton Foundation's services funded? What are the financial benefits and tax advantages of gifting through The Dayton Foundation? I would like to give something to my favorite charity, but I'm not rich. Don't I have to be wealthy to establish a fund through the Foundation? How much must I contribute to establish an endowment fund? Can I give anonymously? Can other people contribute to my fund? Is there a fee to establish a fund? How can I get a copy of my fund statement? How can not-for-profit organizations apply for discretionary grants? Who is eligible for a grant? How often may I apply for a grant, and how many applications can I submit? Who decides which applications are awarded grants? Where do you get the resources to fund discretionary grants? I'm not a nonprofit organization; I'm just a person who needs some extra help. Can I apply for a grant? What is a 501(c)(3) designation? How can I get one? A community foundation is a tax-exempt public charity built on the concept of people helping people to improve the quality of life in a particular geographic area. Individuals establish permanent endowment funds and other types of funds with their community foundation to help respond to emerging community issues and opportunities. The Foundation's Governing Board is comprised of up to 15 knowledgeable, concerned community citizens and volunteers who live in the Greater Dayton Region. They represent a diverse group of people, who have different areas of expertise and community knowledge. They oversee the management and policies of the Foundation, as well as serve as the Board of Trustees for several subsidiary organizations of The Dayton Foundation. In addition to being knowledgable about local needs, community foundations assist donors who wish to establish an endowed giving plan without incurring the administrative and legal costs of a private foundation. Private foundations are highly regulated by the Internal Revenue Service. Plus, they are subject to numerous special restrictions, including administrative and reporting burdens, excise taxes and a required minimum payout every year. By affiliating with The Dayton Foundation, a family foundation may avoid being subjected to these rules and compliance requirements and better utilize the family foundation's resources for greater charitable purposes.
Learn more about the Foundation's private foundation alternatives.
The Dayton Foundation utilizes more than 30 foundation-approved investment managers in which to invest donors' funds, pending donation to charity. Our volunteer Finance Committee, comprised of members of leading financial and investment institutions and businesses, works with our professional staff to regularly evaluate investment performance to assure successful achievement of stated benchmarks. The Dayton Foundation Governing Board has final oversite of investment policies and performance. The Foundation also employs the Fund Evaluation Group to provide third-party evaluation of investment performance on a quarterly basis. Our services are funded in three ways: • from gifts to the Foundation’s operating fund, • from income earned from short-term accounts, including the Charitable Checking AccountSM Service (Dayton Foundation Depository, Inc.), and • from administrative assessments to permanent funds. The Dayton Foundation is a public charity. Donations qualify for the maximum available deduction for charitable contributions in the year when the gift is made. We also can offer solutions to help reduce your estate tax liability. When donating appreciated stock or other assets, you can receive a tax deduction for the full fair-market value of the stock on the date of the gift and avoid paying long-term capital gains tax on the increased value. Our low annual administrative fees on endowed funds can enhance the tax-free growth of donated assets to endowment funds. This allows for more generous distributions to your favorite charities over time.
I would like to give something to my favorite charity, but I'm not rich. Don't I have to be wealthy to establish a fund through the Foundation?
No. Anyone can be a philanthropist. It does not require great wealth, just a concern or willingness to help others or a particular cause. It also does not have to be complicated.
We offer a variety of flexible, tax-advantaged giving options to help you reach your charitable giving goals. Contact Joe Baldasare, vice president, Development, to find out how you can start fulfilling your charitable dreams. Most donors who establish an endowment fund make a commitment to bring the fund to at least $25,000 in assets, which can be accomplished over time. Yes. You can decide whether you want to be recognized for your giving or to remain anonymous. You can feel secure in knowing that your personal information will never be disclosed.
Learn more about our privacy policy.
Yes. Some donors suggest to their friends and family that they give to their fund in honor of a special event, such as a birthday or anniversary, instead of purchasing a gift.
Donate online to any Dayton Foundation fund or Charitable Checking Account using your credit card.
No. There is no cost to establish a fund with The Dayton Foundation. Your personal fund statements are available on our web site through Donor Express. Click Access Your Fund or Account, enter your password and follow the simple instructions on this secure web site. If you are not registered for Donor Express, click here to register online. If you need further assistance or have any questions, please contact Alma Matthews at (937) 225-9930. Grant application procedures are listed on the How to Apply for a Grant page of our web site. If you have any questions, please contact Jo Dech, administrative assistant, Grants and Programs, at (937) 225-9976. We welcome grant applications from local not-for-profit organizations that benefit citizens of the Greater Miami Valley. To be eligible for a grant, your organization must:
• be recognized as tax-exempt under Section 501(c)(3) of the Internal Revenue Code,
I'm not a nonprofit organization; I'm just a person who needs some extra help. Can I apply for a grant?
The Foundation makes discretionary grants to qualified 501(c)(3) nonprofit organizations located primarily in Montgomery, Miami, Greene, Darke, Preble and Warren (north) counties of Ohio. We are unable to award grants to individuals, except in the case of scholarships, which are awarded directly to the educational institution on behalf of the student.
501(c)(3) refers to the specific section of the Internal Revenue Code that defines a not-for-profit organization. For more information on the Code and how to obtain a 501(c)(3) designation, contact the Internal Revenue Service.
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File date: 05-09-08
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