| Organizational Structure |
|---|
| Donors establish individually named funds within the
corporate structure of CFCI |
Donor must establish a separate nonprofit corporation and apply for federal
tax exemption with articles of incorporation, and bylaws |
| Donors can guide grant making activities of their funds |
Donor operates own grant program and manages contact with fund seeking
community |
| CFCI files one federal and one state tax report for all of it's funds |
Donor is responsible for investments, accounting, and state and federal
reporting |
| Tax Deductions for donors |
| Donor receives 100% fair market value charitable deduction for gifts of
publicly traded stock, closely-held stock, real estate, and other long-term
capital gain property |
Donor currently receives a fair market value charitable deduction only for
gifts of publicly traded stock. The deduction for gifts of other appreciated
property, such as real estate or closely-held stock, is limited to the donor
cost basis |
| Gifts of cash are deductible up to 50% of the donor's adjusted gross income
with a five-year carryover for any excess |
Gifts of cash are deductible up to 30% of the donor's adjusted gross income
with a five-year carryover for any excess |
| The fair market value of gifts for appreciated securities or real estate are
deductible up to 30% of the donor's adjusted gross income with a five-year
carryover for any excess |
Gifts of appreciated property are deductible up to 20% of the donor's
adjusted gross income with a five year carryover for any excess |
| Federal Tax |
| CFCI is exempt from most federal and state taxes | Subject
to federal tax of up to 2% annually on invested income |
| Pay-out Requirement |
| No IRS requirement that any amount be paid out annually in grants |
IRS requires an annual grant pay-out of 5% of assets |
