The Winston-Salem Foundation: FAQ

WHAT ARE THE MINIMUM AMOUNTS TO ESTABLISH FUNDS?

There are no minimum gift amounts required to establish Donor-Advised, Field of Interest, Unrestricted, Designated, or Agency Funds. A permanent Scholarship Fund may be established with a gift of $10,000. Non-Endowed Advised Funds must maintain a $1,000 minimum balance.

CAN I FULFILL MY PLEDGES WITH A DONOR-ADVISED FUND?

Many times donor advisors include "pledge" language in their recommendations to the Foundation for their donor advised funds. In accordance with the Treasury Department regulations, grants awarded from The Winston-Salem Foundation funds may not be used to fulfill personal pledges or a financial obligation of a donor.

The Foundation cannot pay pledges that were pre-existing personal commitments. We suggest that instead of completing a pledge card indicating a legally binding commitment, you communicate with the charity your intent to recommend a grant from your fund at The Winston-Salem Foundation. This is not a legally binding commitment. We will not honor recommendations that reference a pledge or copies of invoices.

We recommend for both your convenience and the convenience of a charity who will receive funds through a donor advised fund, that you include special instructions such as "capital campaign" or "general support" when you make your recommendation. Space is provided for these instructions on the donor recommendation form.

WHAT IF I WANT TO MAKE A GRANT TO A CHARITY OUT OF STATE? OR OVERSEAS?

Donors may support any charitable organization across the United States. International organizations may be supported provided there is a qualified US-based nonprofit available to receive grants on their behalf.

IS THERE ANY LIMIT TO THE NUMBER OF GRANTS I CAN MAKE OR THE AMOUNT OF EACH?

There is no minimum for number of grants made from a donor advised fund. The Foundation does require that all grants be a minimum of $100.

WILL I RECEIVE ACKNOWLEDGMENT OF MY GIFT FOR TAX PURPOSES?

Yes, the Foundation acknowledges gifts to all funds. We offer maximum tax advantage under state and federal law.

WHAT ARE THE BENEFITS OF A DONOR-ADVISED FUND OVER A PRIVATE FOUNDATION?

There are many reasons why establishing a donor-advised fund can be more beneficial than a private foundation. (Learn more )

HOW MUCH DOES IT COST TO SET UP A FUND?

There is no set-up fee to establish a fund or have the Foundation serve as trustee. Fees for funds are based on fund value and type. (learn more)

HOW DO I RECOMMEND GRANTS?

Donor advisors may submit grant recommendations by faxing or mailing your recommendation form to the Foundation, or log-on to the Foundation's website to register and make recommendations on-line. (learn more)

HOW ARE ENDOWMENT FUNDS INVESTED? CAN MY FINANCIAL ADVISOR BE INVOLVED?

Endowment funds are invested with 65-70% equity and 30-35% fixed income positions. The spending policy allows for 5% of each fund's trailing 12-quarter market value average to be used for charitable purposes annually unless donors enable the spending of principal. (learn more)

The Foundation values its relationship with many investment managers. If your investment manager is not one the Foundation currently holds a relationship with, we would be happy to discuss ways in which to involve them.

WHAT GIFTS ARE ACCEPTED OTHER THAN CASH AND STOCK?

The Foundation accepts gifts of cash, securities, real estate, personal property, retirement plan assets, and life insurance. Naming the Foundation in your Will or living trust is also a way to support the causes you care most about. (learn more)

WHAT IF I NEED HELP WITH MY GRANTMAKING?

The Foundation's expertise in the community is available to all of our donors. A donor services officer is happy to answer any questions you may have about your grantmaking.

CAN I REMAIN ANONYMOUS?

Yes, the Foundation honors a donor's right to remain anonymous and keeps donor records confidential. Please make the Foundation aware of your desire to remain anonymous.

HOW DO I READ MY STATEMENT?

Click here to see a sample statement and its components described.