FAQs

  • How can I contact the La Crosse Community Foundation?

  • How could I get a grant application?

    • Contact the Foundation at (608) 782-3223 or at the Contact Us link to discuss your proposal with Foundation staff.  If your project fits the Foundation’s criteria, you will be sent an application.  For more information, visit the Grant Seekers page.

  • How can I make a contribution?

    • Gifts of cash or check
    • Online giving through Network for Good
    • Memorials or gifts honoring loved ones
    • Matching gifts – some employers offer a matching gifts program
    • Deferred gifts through wills and charitable trusts
    • Gifts of stock and real property

  • How can I start a fund?

    • Call the Foundation to clarify your charitable vision, shape a permanent fund, and choose the most appropriate way to give, whether its cash, check, appreciated stocks or retirement fund assets.

  • What is the benefit to giving through the Foundation and not directly to the nonprofit agency?

    • Permanence.  Your fund is reinvesting every single year in a greater community.
    • Community needs change and evolve and your fund will be there to meet those changing needs and the people served who you care about.
    • Your family members can remain engaged in local philanthropy in the community in which they were raised even if they live outside of the La Crosse area.
    • There is not a more cost effective way to support your community than through a permanent endowment fund at the community foundation.

  • Can I give to an already established fund? 

    • You may make a contribution to any established fund.  When you send the contribution, attach a note as to where to direct it.

  • Can I make a contribution to the Foundation without starting a fund?

    • Absolutely.  Any gift will help the community, forever.

  • What are the reasons to give to the Foundation?

    • Simplicity - one contribution can address a number of different needs and/or charitable organizations.
    • Tax benefits – contributions qualify for maximum deductions for income, gift, and estate purposes.
    • Professional management – the Foundation’s professional staff and voluntary board provide careful administration and oversight.  Staff is available to answer questions, identify community needs, and screen grant requests.
    • Perpetuity – the funds will serve the community now and in the future because only the earnings are spent. 
    • Security – all assets are held in perpetuity.  The Foundation board provides careful stewardship of all gifts.
    • Flexibility – if the intended use of a gift should ever become obsolete, the Foundation will strive to follow your wishes while allowing for changes that occur in every viable community.
    • Public accountability – annual independent auditing, public disclosure of all grant activities, and careful selection of board members assure accountability and transparency in the public interest.

  • What are the tax advantages compared to other giving options?

Private Foundation Comparison

 

Private Foundation

LCF Community Impact or Designated Funds

LCF Donor Advised Fund

LCF Supporting Organization

Administration

Detail annual filing with IRS

LCF carries out all record-keeping and accounting

LCF carries out all record-keeping and accounting

LCF carries out all record-keeping and accounting

Grantmaking Expertise

For larger foundations, a professional staff

LCF staff assistance to review and monitor proposals

LCF staff assistance to review and monitor proposals

LCF staff assistance to review and monitor proposals

Control

Trustees have complete control of distributions and responsibility for asset management

LCF Board of Directors responsible for grantmaking to carry out donor's intent and asset management

Donor advisors recommend grant recipients to LCF Board for approval; Board responsible for managing assets

Own Board of Directors responsible for grantmaking and asset management

Cost

Legal and accounting fees, insurance, office space, staff and operational costs

No cost to establish; investment and management fees

No cost to establish; investment and management fees

Cost to establish; investment and management fees

Legal Identity

Separate nonprofit entity

(Donor's choice of name) Fund of LCF

(Donor's choice of name) Fund of LCF

Donor's choice of name; separate nonprofit entity affiliated with LCF

Tax Status

Private Foundation

Public Charity

Public Charity

Public Charity

Taxation of Investment Income

2% Annually

None

None

None

Payout Requirement

Annual grants must equal 5% of corpus

None

None

None

Deductibility of Gifts

Deductible up to 30% of adjusted gross income; gifts of appreciated property deductible at fair market value (up to 20% of AGI)

Deductible up to 50% of adjusted gross income; gifts of appreciated property deductible at fair market value (up to 30% of AGI)

Deductible up to 50% of adjusted gross income; gifts of appreciated property deductible at fair market value (up to 30% of AGI)

Deductible up to 50% of adjusted gross income; gifts of appreciated property deductible at fair market value (up to 30% of AGI)

 

 

 

 


Home | Donor Information | Grant Information | Legal Documents | Funds & Scholarships
Supported Agencies | CPI | FAQs | Newsletters | Contact Us