Donor Services/Types of Funds


Donor Services is an extension of our commitment to all donors and we know that this partnership is the key to the successful building of "social capital" and positive, long-term change in the community of High Point. We consider it an honor and a privilege to work with each of you to achieve your philanthropic vision and make High Point a healthy and prosperous community today and forever...

Types of Funds

High Point Community Foundation Endowment Fund
Field of Interest Funds
Special Interest Endowment Funds
Donor Advised Funds
Scholarships
Organizational Endowments
Gift Annuities

****HPCF financial statements (audit and 990) available per request from the Foundation office. Form 990-T currently not required by IRS guidelines, but will be available by request in the event guidelines change and it is required.

Endowment Fund

Description - The High Point Community Foundation Endowment Fund is a permanent endowment whose income underwrites discretionary grants made to nonprofit organizations that qualify under section 501(c)(3) and 170(c)(1)-(5) of the IRS Code in the greater High Point area. This fund also supports the foundation's operational expenses.

Selling Points - Donors who wish to provide the maximum flexibility for the Foundation in meeting community needs can choose this permanent, unrestricted endowment.

Who Might be Interested
  • People who wish to respond to the needs and to the growth of their community in perpetuity.
  • People who wish to help the Foundation fulfill its mission in the most flexible way possible.
  • People who have no specific areas of interest or whose gift would not be of a large enough size to create a separate fund in their name.


Field of Interest Funds


Description - These are funds from which the Foundation's Board, or specific grants committee, is free to make grants within the defined field of interest. Grants are made from the fund in accordance with the Foundation's payout policy.

Existing Field of Interest Funds include:

The Violet Hutchens Children's Education Fund - General fund for children's education that makes grants in conjuction with the Foundation's Annual Grants Program.

Cory McInnis Compassion in Education Fund - Provides funds to underwrite education projects in the High Point public schools. Grants are made in conjunction with the Foundation's Annual Grants Program.

Heart of High Point Fund - Established to support nonprofit organizations serving basic needs in the community; specifically food, shelter, clothing, medical care and rehabilitation. Grant requests are reviewed by the Heart of High Point Committee and grants are made year-round to eligible organizations.

City of High Point Public Schools' Principals' Discretionary Needs Fund - Established to support needs in High Point public schools that are not covered by the budget. Principals can submit a request for last resort funding to the Foundation for review by the Principals' Fund Committee.

**Click here for the HPPF grant request form. Save the form to your computer before you fill it out. You will then be able to send it back to us as an attachment. Please send to hppf@hpcommunityfoundation.org.


Selling Points - A donor with a particular interest can be sure that his or her gift will support only that category of interest.

Requirements to Create a Fund - Because this is an endowment from which separate grants will be made, it must generate sufficient income to warrant and sustain such a granting program. Therefore, this type of fund should be established with an individual gift of, or collective intent to raise, at least $250,000.

Who Might Be Interested

  • An individual, family or group with a specific category of interest.
  • A group wishing to target a specific issue in the community.
  • People wishing to establish a memorial to an individual for their interest in or accomplishments in a given area.


Special Interest Funds

Description - A Special Interest Fund is a permanent fund created by a donor who wishes to enable the Community Foundation to make a grant annually to a named organization. The annual payout is paid each that one specific named nonprofit organization.

Selling Points - A Special Interest Fund can help ensure that a named organization will continually support a certain type of endeavor, regardless of what changes may occur in the organization's leadership. Also, the assets of the fund are outside of the control of the organization so that the donor may be sure that those assets never will be tampered with in any way.

Requirements to Create a Fund - A Special Interest Endowment may be created with a gift of $7,500 or more.

Who Might Be Interested
  • Individuals with a keen interest in supporting a specific institution or a specific activity within that organization..
  • An individual who would like his or her annual gift to be made in his or her name.


Donor Advised Funds

Description - A Donor Advised Fund enables a donor to offer his or her advice to the Foundation's Board as to when, where, and for what purpose a grant should be made to a qualified nonprofit organization anywhere in the world.

Most Donor Advised Funds at the High Point Community Foundation are non-endowed, which allows the donors and advisors to recommend grants from both the income and the principal of the fund, provided the minimum balance is maintained.

Selling Points - A spouse or children may help advise the fund. All transactions, in and out, can be handled with complete anonymity. Additional contributions may be made at any time.

Requirements to Create a Fund - A fund may be established for as little as $7,500. A signed fund agreement is required that includes: name of fund, amount being given to create the fund, and names of advisors including the primary contact with authorized signature.

Who Might Be Interested
  • Individuals wishing to take a tax deduction at a time of high or extraordinary income and decide later how he or she wishes to distribute it.
  • Individuals receiving an inheritance, needing an immediate tax deduction, wanting to distribute once they have thought about it or as needs arise.
  • Individuals who wish to involve family in a collective charitable giving process where they can all decide together what grants should be advised to the Foundation.
  • Individuals handling another's affairs (such as an elderly parent) who know what grants they want to recommend at what time each year and wish the Foundation to attend to the details.


 

Scholarshipscholarships

Description - Scholarship programs come in many forms with many intents. Because such scholarships can be very labor intensive, they should be created in consultation with the Foundation. The Foundation may be limited in its flexibility in accepting scholarship programs to administer depending on its administrative capacity. The Community Foundation currently offers scholarship funds in which the Foundation reviews the propriety of process used by an outside (usually self perpetuated) group prior to the Foundation awarding the scholarship.

Selling Points - Scholarship funds are major programs at three of the top five community foundations in North Carolina. They are typically major programs in most well established community foundations. A community foundation can bring critical review of applications to bear on a given fund without becoming engaged in the politics of the institution to which that individual may be going.

Requirements to Create a Fund - At this time the Foundation does not have a general scholarship fund. Therefore, a minimum of $25,000 is required to establish a separately administered scholarship program at the Foundation.



Organizational Endowments


Description - Organizational Endowment Fundis are flexible instruments which provides Foundation management for the endowments of nonprofit and for-profit organizations. It allows those organizations access to the principal in their endowments under certain, very specific circumstances. One or several endowments may be established by an organization to address different needs.

Selling Points - Having a third party manage an organization's endowment can provide assurances to donors that promises will be kept regarding the use of the income from that endowment over time. Also, the Foundation has professional management which might not be available to organizations with endowments whose principal would either not attract professional management or would not be large enough to be cost effective.

Requirements to Create a Fund - An Organization Endowment may be established at the Foundation with a commitment of $7,500. This low threshold was created to encourage small nonprofit organizations to begin building an endowment and to help them with marketing that effort.

Who Might Be Interested

  • Nonprofit organizations interested in maximizing the performance of their endowments and interested in building endowments over time.
  • Businesses that are interested in creating a granting source to support charitable causes and interested in maximizing the performance of the fund.

Note: Organizational Endowment Funds are a service to the community. Therefore, the corresponding fees are lower than other Foundation fees. However, the elements of these agreements are set the same for all nonprofit organizations. Therefore, they are not negotiable.


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