Donors who establish personal philanthropic funds in the Women's Fund of the Oshkosh Area Community Foundation receive one priceless benefit: the joy of watching their philanthropic dollars at work.
Unless you choose to remain anonymous, your generosity will be recognized both by those who benefit from your fund and the community as a whole.
Your gift to establish a fund accomplishes two important tax objectives: a charitable income tax deduction in the year of the gift and the reduction of the gross estate for future estate tax purposes. In addition, donors eliminate capital gains taxes for gifts of appreciated property.
Donors can create or add to their fund with gifts of cash, publicly-traded or closely-held securities, real estate or personal property at any time.
There are six types of funds at the Oshkosh Area Community Foundation. You can tailor your charitable legacy by choosing to establish one or more of these:
Women's Fund Community Impact Fund
A Community Impact Fund is the donor's broadest option. The Women's Fund Community Impact Fund can reach out to all charitable organizations involved with women's issues. The Women's Fund, funds those projects that best meet the most pressing needs even when those needs change over time. By making a gift or bequest to create a Women's Fund Community Impact Fund, a donor can create a living legacy that will grow and change as the community does.
Donor Advised Fund
Donor Advised Funds allow donors to simplify and consolidate all their charitable giving without the expense, or legal and administrative burdens of running a private foundation. Donors who establish a Donor Advised Fund retain the right to recommend grants to charitable agencies. The donor gets a full charitable deduction in the year the fund is created and a single receipt for gifts to the Fund, rather than the many gifts to individual charities made from the fund. Donors can name other advisors to the Fund. Staff can help identify effective projects in the donor's areas of interest. Donor Advised Funds can support charities across the country.
Field of Interest Fund
Field of Interest Funds allow donors to address a cause or issue of particular importance to them without being locked into naming specific charities. The donor names the purpose of the fund, such as arts, environment or youth. The Foundation identifies projects that can most effectively accomplish that goal at any given time.
A Designated Fund names a charity or charities to benefit from the fund. The donor has the assurance of knowing that the charity they choose will forever benefit from their support. However, if the organization ceases to exist, the Foundation's board will preserve a donor's intent by redirecting the fund toward an agency with a similar mission.
Donors from all economic backgrounds can now make a significant and permanent contribution to the charity of their choice by starting an Acorn Fund at the Oshkosh Area Community Foundation.
By investing as little as $1,000 in an Acorn Fund and making annual contributions of $250 per year, you can build your tax-deductible contributions into a permanent endowment fund. When the Acorn Fund reaches $10,000, it will begin making grants to support your chosen charity or charities.
A scholarship fund can be set up in the donor's name so that deserving young people can obtain an education. A scholarship fund can be set up to make awards based on any of the following: schools, colleges or universities the student attends, fields of study, geographic area students are from, or other interests.