Frequently asked questions from donors and friends of CCF
Are you new to CCF? Or maybe you’ve partnered with us for so long that the fine details are fuzzy. Either way, you may have questions! We’ve compiled a list of FAQs to help and guide you. As always, please feel free to contact our office directly by calling 901-682-6201 if your question isn’t answered here or if you need additional information.
What is the minimum amount needed to create a donor-advised fund?
To open a noninvested donor-advised fund, the initial tax-deductible gift must be $2,500 or more. To establish an invested fund, the minimum gift is $10,000.
What is an invested fund?
With a balance of more than $10,000 or more, a donor can change to invest their fund. CCF will charge its customary administrative fees based on the prevailing schedule for such fees (which is subject to revision or amendment per requirement). Please see the donor-advised fund agreement for schedule details.
What are the administrative expenses for an invested donor-advised fund?
Administrative fees vary based on account balances. Please see number 6 on the donor-advised fund agreement for fee structure details.
Fees charged on invested funds are generally more than offset by the income and capital gains that are earned and retained by the fund. In addition, since July 1, 2006, fees earned by Christian Community Foundation are given away to ministries making a difference in Memphis through our Hope for Memphis Fund. The Hope for Memphis Fund allows donors to give twice: once through your fund and once through the Hope for Memphis Fund.
How do I make a grant recommendation from my fund?
All grant recommendations must be properly documented according to IRS standards. These can be easily made online at Donor Central. Please call our office at 901-682-6201 if you need assistance.
What organizations are eligible to receive grants?
Any United States-based agency that is a recognized 501(c)(3) of the Internal Revenue Code may receive a grant from a Christian Community Foundation donor-advised fund. However, all grant requests are reviewed and approved by the grant review committee of the Christian Community Foundation board of directors.
Organizations openly antithetical to Christian beliefs will not be approved. Grants cannot be awarded to individuals. Donors also may not receive tangible benefits from a grant. These include items such as tuition, meals, concert tickets and museum membership benefits.
What is the minimum grant I may recommend?
We request a minimum grant recommendation of $50.
What is the fee charged for recommending grants?
No fees are charged for recommending grants.
How often can I add to my fund?
You can add to your fund at any time with a gift of any amount.
Can I give assets other than cash to my fund?
You can give stock, mutual funds, retirement fund assets, real estate and/or other tangible property.
Can I remain anonymous when establishing a fund or recommending grants?
Yes, advisors can request that grants be awarded anonymously. You can also choose a name for your fund other than your name or your family’s name.
How often will I receive a statement?
Statements are uploaded to Donor Central quarterly, usually a week before the end of the following month.
How can I determine the balance in my fund?
Your fund’s balance can be determined by accessing Donor Central. If you have any issues, please call or email us.
What is the Hope for Memphis Fund?
The Hope for Memphis Fund was established by the Christian Community Foundation in 2006 to invest strategically in Christian organizations seeking city transformation spiritually, academically, economically and relationally.
The Hope for Memphis Fund issues grants from the surplus and earnings of the Christian Community Foundation and from donations made to the Fund. Grant recipients are Christian ministries primarily serving the economically disadvantaged residents of Memphis and the Mid-South region. A primary focus of the Fund is to make grants that improve effectiveness and build capacity of existing ministries.
The Hope for Memphis Fund committee considers grant applications twice a year based on the designated time frame related to each cycle.
What are the tax advantages of establishing a fund at CCF?
Donors who contribute stock and other appreciated assets are eligible for tax deductions and may reduce or eliminate liability for capital gains taxes. It is also useful to take charitable deductions in years of high income but make grant requests in years of lower income or retirement. Donors are strongly advised to consult with their tax advisors when making these decisions.
Donors may wish to make larger contributions to their fund in high income years prior to retirement. This allows donors to take maximum advantage of tax deductions during their highest income earning years and have it invested tax-free, allowing them to give during retirement when their income is reduced.
There are also many ways a charitable fund can help a donor reduce estate taxes, preserve retirement assets for family members and provide gifts for charity. CCF’s professional staff works closely with attorneys, accountants and other advisors to help donors make the best choices for their families.
What are the advantages of establishing a fund at CCF versus a private foundation?
Since CCF is a public charity, there are fewer Internal Revenue restrictions for gifts and grants compared to a private foundation. Generally, donors receive a higher tax deduction for contributions. Additionally, donor-advised funds are not subject to excise taxes and have no payout requirement. An alternative to creating a donor-advised fund is establishing a supporting organization at the Foundation. Supporting organizations offer the advantages of a donor-advised fund but are governed more like a private foundation.
What is CCF’s privacy policy?
At CCF, we are committed to protecting individual privacy and will not share personal information with outside parties.
We limit access of personal information to only those who need to know in order to produce compliance reporting, service your account and provide you with a broad range of services and products. Our employees, representatives and agents are required to maintain and protect the confidentiality of your personal information and must follow established privacy procedures. Donor names or amounts of donations are not revealed to the board of directors of the Foundation. We maintain physical, electronic and procedural safeguards to protect your personal information.
We strive to keep our donor and agency records complete and accurate. We will give you reasonable access to the information we have about you. Most of this information is contained in account statements you receive from us and applications you submit to obtain our services. We encourage you to review this information and notify us if you believe any information should be corrected or updated.