Myths about a Community Foundation

There are many misconceptions about donating through the Community Foundation.

MYTHI can only donate through the Community Foundation to charities in Palm Beach and Martin Counties.

FACT: You may donate to any charity in the USA and, in most situations, you may support international charities as well.

MYTH: I must donate at least 5% of my fund balance annually.

FACT: You may donate out of your non-endowed charitable giving fund as you see fit. There are no required minimum or maximum distributions.

MYTH: A portion of my charitable fund must be endowed and adhere to a spending policy.

FACT: While endowed funds are available, the Community Foundation offers 100% non-endowed Charitable Giving Funds for those who wish to have the greatest amount of flexibility. 

MYTH: I can’t name my heirs as successors to my fund.

FACT: You can determine how future generations can be involved as successor advisors to your fund. 

MYTH: I must use the Community Foundation’s investment portfolio options to invest my charitable fund.

FACT: If you wish to invest your charitable fund, you may use the Community Foundation’s portfolio options or you may choose to use your own investment advisor. 

MYTH: There is a minimum amount needed to open a fund and to make distributions each year.

FACT: Minimums are not required to open a fund or to make distributions to your favorite charities.

MYTH: I cannot make multi-year gift commitments from my fund at the Community Foundation.

FACT: You may make multi-year gift commitments when you use the proper procedure and language that ensures these commitments are nonbinding and approved by the Community Foundation.

MYTH: If I give through the Community Foundation, all my information will be public.

FACT: Information about fund balances, grant-making history and contact information is not shared publicly. The level of anonymity is determined by each donor. 

How can we help you with your philanthropy? Please call Chris Snyder, Charitable Giving Officer, with any questions at 561.340.4512 or email him HERE