WHAT ARE THE MINIMUM AMOUNTS TO ESTABLISH FUNDS?
There is a $10,000 minimum gift amount required to establish an unrestricted fund. A $25,000 minimum gift is required to establish an endowed donor-advised, field of interest, designated, or agency fund. A permanent scholarship fund with standard guidelines may be established with a minimum gift of $30,000, and a scholarship with customized guidelines can be established with a minimum gift of $50,000. Non-endowed advised funds must maintain a $1,000 minimum balance. Top
CAN I FULFILL 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.
We suggest that instead of completing a pledge card indicating a legally-binding commitment, donors communicate with the charity their intent to recommend a grant from their fund at The Winston-Salem Foundation. While the Foundation can make multi-year grants (or grants with multiple payments) from donor-advised funds, these are not legally-binding commitments. Please note that we will not approve recommendations that reference a pledge or include copies of invoices.
We recommend for both donor convenience and the convenience of a charity that will receive funds through a donor-advised fund, that donors include special instructions such as "capital campaign" or "general support" when making a recommendation. Space is provided for these instructions on the donor recommendation form. Top
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 U.S.-based nonprofit available to receive grants on their behalf. Top
IS THERE ANY LIMIT TO THE NUMBER OF GRANTS I CAN MAKE OR THE AMOUNT OF EACH?
There is no minimum number of grants that must be made from a donor-advised fund, and there is no limit on the number of grants that an advisor can recommend. The Foundation does require that each grant be a minimum of $100. Top
WILL I RECEIVE ACKNOWLEDGMENT OF GIFTS FOR TAX PURPOSES?
Yes, the Foundation acknowledges gifts to all funds. We offer maximum tax advantage under state and federal law. Top
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) Top
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 fund type. (learn more) Top
HOW DO I COMMUNICATE WITH THE FOUNDATION ABOUT THE GRANTS I WANT TO RECOMMEND?
Donor advisors may submit grant recommendations by faxing or mailing a recommendation form to the Foundation or by logging on to the Foundation's Web site to make recommendations online. (learn more) Top
HOW ARE ENDOWMENT FUNDS INVESTED? CAN FINANCIAL ADVISORS BE INVOLVED?
Endowment funds in The Winston-Salem Foundation Investment Pool are invested with 65-70% equity and 30-35% fixed income positions. The spending policy allows for 4.3% of each fund's trailing 12-quarter market value average to be used for charitable purposes annually unless donors enable the spending of principal. (In 2015, this percentage will change to 4.2%.) (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 to involve them. Top
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 a will or living trust or as a designated or contingent beneficiary are also ways to support the causes you care most about. (learn more) Top
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. Top
CAN I REMAIN ANONYMOUS?
Yes, the Foundation honors a donor's right to remain anonymous to the organizations you support. Please make the Foundation aware of your desire to remain anonymous so that we can tailor your fund, your grants, and our records accordingly. Top
HOW CAN I BECOME A MEMBER OF THE FOUNDATION'S LEGACY SOCIETY?
You can inform the Foundation that you have made provisions of $25,000 or more through a deferred gift, such as a charitable bequest, charitable remainder trust, qualified retirement plan, life insurance, real estate, or other asset, or you can establish an unrestricted endowment at the Foundation with a market value of $10,000 or more or another type of endowed fund valued at $25,000 or more. (learn more) Top