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FREQUENTLY ASKED QUESTIONS

Do you have a question about York County Community Foundation? The following is a list of our most frequently asked questions.

If you still have a question after reviewing these FAQs, you are welcome to contact the Community Foundation at 717.848.3733 or info@yccf.org for additional assistance.


General Frequently Asked Questions

1. What is York County Community Foundation?
   
   
2. Is a community foundation a new kind of charity?
   
   
3. Who sets up funds at York County Community Foundation?
   
   
4. What are the advantages of donating to York County Community Foundation?
   
   
5. What is the difference between setting up a private foundation and creating a donor advised fund at York County Community Foundation?
   
   
6. What is the difference between setting up a gift fund through my investment firm and establishing a fund at York County Community Foundation?
   
   
7. What kinds of assets can be used to set up a fund at the Community Foundation?

General Frequently Asked Questions

1. What is York County Community Foundation?

York County Community Foundation is a permanent charitable endowment built with gifts (large and small) for the benefit of the York County community. With hundreds of philanthropic partners, the Community Foundation supports nonprofit organizations and public institutions with funds in a variety of areas of need in York County and beyond. The Community Foundation provides a simple, convenient and flexible way to make a positive difference, now and far into the future. The charitable funds we steward for more than 400 individuals, families and corporations together constitute an endowment of nearly $60 million.

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2. Is a Community Foundation a new kind of charity?

No. But you might think so because of its growing popularity in recent years. In fact, the first community foundation was established in Cleveland in 1914. York County Community Foundation was established in 1961. Today there are nearly 700 community foundations across the United States, with combined assets of approximately $35 billion.

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3. Who sets up funds at York County Community Foundation?

Most funds at York County Community Foundation are established by individuals, some wealthy, others of more modest means. What these people have in common is a desire to give back to their community, whether it's protecting the environment, honoring the memory of someone they loved, setting up a scholarship fund to help students in need, supporting local arts organizations, or funding any other charitable cause imaginable.

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4. What are the advantages of donating to York County Community Foundation?

York County Community Foundation is a public charity. We offer individuals and families the opportunity to establish a customized charitable fund without being burdened by the tax liabilities and administrative hassles associated with setting up a private foundation. Everyone who creates a fund can personalize their giving. At the same time, funds are pooled for investment management purposes to minimize costs and achieve a greater return, making it possible for a smaller individual fund to enjoy the same economies of scale as a large independent foundation.

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5. What is the difference between setting up a private foundation and creating a donor advised fund at York County Community Foundation?

Creating a private foundation subjects you to a number of regulatory requirements, such as undertaking an exemption application to the IRS, as well as ongoing administrative and fiduciary responsibilities, reduced charitable deductions and a lack of privacy. York County Community Foundation, on the other hand, makes the practice of philanthropy easy. We are a public charity so many of the regulations, taxes and administrative requirements required to establish and manage a private foundation do not apply to us. To learn more about the establishing a donor advised fund at the Community Foundation, please call us at 717. 848.3733.

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6. What is the difference between setting up a gift fund through my investment firm and establishing a fund at York County Community Foundation?

At York County Community Foundation, we provide much more than the check writing services of a gift fund. One of the most significant advantages to setting up a fund through the Community Foundation is that we are local, know the community and we can help you develop a strategic approach to grantmaking. If you are interested in learning more about these personalized services, please call on us at 717. 848.3733.

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7. What kinds of assets can be used to set up a fund at the Community Foundation?

One of the distinct advantages of working with a community foundation is our flexibility. As a general rule, a community foundation can accept any type of asset as long it is marketable and is not encumbered by an unusual liability. Most often, funds are started through a gift of cash, real estate or securities. There are also several convenient ways you can establish a fund at the Community Foundation, with different benefits. You can establish a fund and fully fund it during your lifetime, establish a fund by bequest, or consider a life-income arrangement. Whatever you prefer. We hope you consider calling on us to discuss these options.

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