FAQs:

1. How quickly are grants processed?
We request that grant recommendations be received by the 1st and 15th of each month. The approved grants will then be mailed within 3 weeks of the due dates. The intervals are necessary to allow time for staff research, processing and approval by the HCCF Board.

2. What kind of grants cannot be made from the donor advised fund I established at HCCF?
Agencies not certified 501(c) (3) by the IRS may not receive grants from HCCF donor advised funds. In addition, grants cannot be made to individuals, nor do we allow grants that would be used for a purpose not permitted by the Internal Revenue Service. Such purposes include, but are not limited to pledges, dues or membership fees, tickets, political contributions, or any purpose that confers a benefit to any individual such as tuition payments.

3. Can a donor-advised fund at HCCF be used to pay a pledge?
No. When you make a contribution to a donor advised fund at the Community Foundation you are entitled to take the full amount as a tax deduction. This is because you have received nothing (in excess of purely incidental benefits) in return for your contribution. If the HCCF satisfies your pledge, you will be receiving something in return for your contribution—release of a debt. Therefore, grants from a donor advised fund may not be used to satisfy a personal pledge made to a charity. However, you may place a “pledge sticker” on a signed pledge card indicating your intent to request a grant for a specific amount from your donor advised fund.

4. I received an acknowledgement of my gift from the agency – Does that mean I can take the deduction on my income taxes?
No. Your income tax deduction was earned when you made your contribution(s) to the donor advised fund you established. The acknowledgement of your contribution from HCCF is your receipt to document your gift on you tax return. Acknowledgements from agencies are sent to let you know that a gift was received and appreciated.

5. Can I recommend grants anonymously?
Yes. The agency will be notified that a donor who prefers to remain anonymous recommended the grant, and the agency will be advised to acknowledge receipt to HCCF. We will then forward the acknowledgement to you.

6. Is there a process whereby I can recommend the grant to be paid out over several years?
Yes. You may make a request for a grant to be paid in recommended intervals from the fund you established. The Board will review the entire amount of the grant at the time the grant is recommended, and upon Board approval the amount of the entire grant will be reserved in the fund you established. Grant checks will be issued at the intervals you recommended.

7. Is there a process whereby I can recommend grants to be paid at specific intervals (e.g., quarterly) for an indefinite period of time?
Yes. You may request that a certain sum or percentage of the fund you established be paid to specified agencies on a regular basis. The Board will independently review each payment. Upon Board approval, the grants will be paid.

8. Are the agencies researched prior to grants being processed?
Yes. We make sure agencies qualify as an IRS section 501 (c) (3) organization. In addition, information files are maintained on agencies that have received HCCF grants.

9. Can I phone in grant recommendations?
We strongly recommend that you do not do so. We do accept grant recommendations by fax or on-line thru our website. Go to www.hopeccf.org and look for the Recommend a Grant link on the bottom right-hand corner of the home page. 10. If I have questions about a grant or about the fund I established, whom do I call? For initial inquires, call Brenda Brazley, Director of Donor Relations, 901-682-6201.