Frequently Asked Questions
How are the Funds managed at the High Point Community Foundation?
Currently the majority of Foundation Funds are managed by a unique partnership between Wachovia Trust and Calibre to maintain a balanced and competitive diversification. While the funds are accounted for individually, they are invested in a pool, thereby assuring a balanced portfolio at a minimum administrative cost. The Foundation's Investment Committee has established an "Investment Policy" that can be accessed on this website. This Committee meets with Wachovia quarterly to review investment performance. The Foundation charges a management fee for all of our funds and this schedule can be also accessed on this site.
When I establish a fund at the Community Foundation, what happens to the appreciation in the account?
The appreciation, less any applicable fees, remains in the account, as an increase in the fund's principal. The High Point Community Foundation is more generous in this regard than many other community foundations.
Is it hard to open a Donor Advised Fund?
No, the process is very simple and can be done in a matter of hours. It entails drawing up an agreement which the Foundation will provide (generic agreement) and then we ask you and your advisors to review and personalize the document. Once this is complete and signed the only other step is to either write a check, or transfer funds into the Foundation account.
Why can't the donor "direct" the use of gifts rather than "advise" on the use of gifts?
The Internal Revenue Service requires that the donor lose control of a gift before an income tax deduction is permitted. The policies of the High Point Community Foundation permit the donor to receive an immediate income tax deduction, while being involved in the grants from the fund later on. Donors may "direct" the use of the gift as a part of an initial gift agreement. Commonly, the beneficiaries of an endowment gift are stated at the time of the gift. The beneficiaries of the remainder interest of a charitable remainder trust may also be stated explicitly. Generally, donors have a greater ability to "direct" gifts at the time of the gift. Subsequently, the IRS requires donors to have advisory relationships.
Do you accept real estate gifts?
Yes. The High Point Community Foundation has received several gifts of real estate and can be very helpful to potential Donors in this process.
Is the Foundation Staff available to counsel me and my family on our advisement decisions?
Yes, the Foundation Staff works very closely with the many non-profits in our community. Once they know the type of projects you are interested in they will keep you informed as to whom is doing good work in that area.
What is the best way to make a gift that will meet unforeseeable needs in our community?
A contribution to the Unrestricted Fund of the High Point Community Foundation is the best way to make a gift that will address the future needs of the community. Community leaders, now and in the future, know our potential and our problems. Increasing our Unrestricted Funds will increase the health of the community in the decades to come, as decisions are made on the most informed basis possible.
Can I pass my Donor Advised Fund on to my children?
Yes, not only can you pass the Fund on to your children, we encourage families to include their children on their Board of Advisors even when they are young so that they can begin to be mentored by you and the philanthropic process.
Obviously you will want to do this at an appropriate age which can be as young as 10 years old. Some families even have their children bring projects that they wish to invest in to their Annual Fund Meeting. Later, as the children grow, they will be familiar with the process and committed to serving the community. When you decide it is time to step back your children can take over the Fund and hopefully begin the mentoring process for their children.
When I make an advisement through our Fund will the recipient know it is coming from me?
Yes, every advisement goes out in the form of a check from the High Point Community Foundation that confirms that this is coming from your Fund. The check is also accompanied with a cover letter that underscores your family's commitment to the project or organization. You are copied on all correspondence.
Can I insure that after I am gone that my Donor Advised fund will continue to support those organizations I have supported in my lifetime?
Yes, as you and your Fund mature you can specify that upon your death you would like the Fund to continue supporting certain causes you choose. You also have the option of making a one-time gift, or you may have the funds revert to Unrestricted Funds which will help the Foundation's Annual Grants Program for years to come.
Can I advise to an organization that is not a 501(C)(3) through my Donor Advised Fund?
No, in order to maintain and preserve the tax deductibility of your contributions and those of other Donors, we can only give to those organizations that the IRS classifies as non-profit.
How do have receive information concerning my Fund?
The Foundation provides quarterly reports to all fund holders, but you may receive an update anytime. If you have a question concerning your Fund feel free to contact the Foundation office at 882-3297.
I am frequently asked to support organizations and good causes in our community. It is hard for me to say no to people in some situations. Can the Foundation help me with this?
Yes, often times with fund holders we are asked to become the screening arm of the Fund. Donors simply direct all solicitations to the Foundation Office and our President fields the requests and then will pass them on to you. Once you make a decision he will then pass this on to the organization. We are here to serve our fund holders and make giving more efficient and hassle-free.
**We encourage you to send us your questions. Please click here to send an email to the Foundation.