Frequently Asked Questions

• What is the Community Foundation of Dickinson County, Inc.?

  The Community Foundation is a public, tax-exempt, non-profit, philanthropic organization established and operated as a permanent collection of endowed funds for the long-term benefit of Dickinson County.

• What is the history of The Community Foundation of Dickinson County, Inc.?

  The Community Foundation of Dickinson County was founded in 1999. To endow the Foundation's operating expenses, over 40 individuals and business pledged $5,000 that later became the Fund for Abilene when, one year later, the Kansas Health Foundation began the GROW Healthy Kansas program to build community foundations. The Kansas Health Foundation's first initiative was to match money raised in a campaign to build funds to support the cost of a community foundation's operations. The Community Foundation participated in this program and received the match money. 

• Who runs The Community Foundation of Dickinson County, Inc?

  The Foundation has an independent governing body representing the broad interest of the community with members of the board serving limited terms. The board is responsible for seeing that all the funds entrusted to the Foundation are prudently invested to maximize income while preserving the principal.

• How does the Foundation get its funds?

  A community foundation actively seeks new, typically large contributions of permanent endowment from a wide range of donors who are generally residents of the area, and then provides assistance to those donors in fulfilling their philanthropic interest.

• Who receives grants from the Foundation?

  The unrestricted funds of the Foundation are awarded in a competitive process to nonprofit agencies in the community. The Foundation has guidelines and processes for distribution and works with applicant agencies on appropriate projects. There also are some funds accepted by the Foundation with restrictions placed by donors who designate the agency or nature of the grants to be made.

• How can a community foundation help its community beyond making grants?

  A community foundation also provides leadership on community issues by serving as a facilitator, convener or mediator around significant community discussions. Donors can ask the Foundation for assistance in identifying the needs in the community.

• Who invest The Community Foundation's money?

  The Community Foundation of Dickinson County Board of Directors established the philosophy and policies for investments. The Finance Committee is responsible for investments and investment oversight and regularly evaluates the portfolio.

• Will the Foundation ever change a donor's instructions?

  A common governing instrument, called a fund agreement, covers all gifts and funds in the Foundation. This agreement includes a “variance power” to modify the use of restricted funds if such restrictions become unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or area served. Those are the only conditions under which a foundation modifies the terms of a gift.

• What happens if the Community Foundation goes out of business?

  The Board of Directors of the Community Foundation would ensure the funds are placed in a qualified charitable organization.

• To whom is the Community Foundation accountable?

  A community foundation files an annual return with the IRS, which is a publicly available document. The State of Kansas also requires an annual report. The Community Foundation of Dickinson County is primarily accountable to the people of the area it serves and publishes an annual report that is available to all.

• Do I need a lawyer to talk to a foundation?

  The fund agreements that establish donor-named funds in the foundation are made available to each donor during preliminary conversations with foundation staff. It is always recommended that the donors’ individual counselors review charitable gift plans.

• How many community foundations are there?

  It is estimated that there are more than 1,000 community foundations throughout the country. They serve small communities, counties, whole regions of the state, whole states and in some cases, multiple state areas.

• When was the first community foundation started?

  In 1914, Frederick Goff, a Cleveland, Ohio attorney and president of the Cleveland Trust Company, started the first community foundation as a component of his bank. He had two goals: To create a philanthropic vehicle to facilitate donor’s charitable intentions in perpetuity even if their original became obsolete (variance power); and second, to establish a system whereby people of modest means could engage in large scale philanthropy if they pooled their contributions.

• How would I use my local community foundation?

  A family may choose to establish a named fund that bears their family name and continues their community giving in perpetuity. A community group may decide to establish a fund in honor of, memory of, a friend or community leader. A business may choose a community foundation to help with its grant making, thus saving time and personnel for the business, yet assuring support for their selected charitable interest. Some donors choose to make their community philanthropy anonymous, and the foundation is a perfect partner to help them. Nonprofit agencies often establish their endowments within a community foundation to guarantee their endowment donors that the principal of the gift is never disturbed, and the earnings will forever come to the agency.

• What's the difference between the United Way and a community foundation?

  A United Way typically serves only its member agencies, which is a small percentage of the community health and human service organizations. It makes annual distributions for general operating support to these agencies based on its annual fund drive proceeds. The Community Foundation supports all areas of the community – arts and culture, education, health and human services, recreation and civic affairs- and has no members who are guaranteed annual gifts. It distributes earnings in a competitive grant making process, generally on a one-year only basis. The Community Foundation distributes only the earnings from its endowment and not all the money that it holds. The community is well served to have both a United Way and a community foundation.

• How long does it take to establish a fund?

  It is a simple process involving a meeting with a representative of the foundation and the donor to review the fund agreement form and determine the donor’s desires and the most suitable way to accomplish them. Once the donor and other appropriate counselors of the donor approve the form, the initial contribution is made and the fund is established.

• How much does it take to establish a named fund?

  For the Community Foundation of Dickinson County, the minimum fund is $5,000 

  For an endowed scholarship fund , the minimum is $20,000

• Does it require a contribution of $5,000 to be a donor to The Community Foundation?

  There is no minimum contribution that may be made to the foundation as any amount may be added to existing funds.

• Must all gifts be cash?

  No. The Foundation is able to accept gifts of appreciated securities (which are particularly advantageous to the donor), real property, or in some cases, personal property. Some foundations also accept business and partnership interests. The Community Foundation offers the maximum charitable deduction available for estate and gift planning opportunities. The Foundation is generally able to provide information on giving techniques and assist donors to evaluate the most effective ways to accomplish their charitable goals.