Donor Advised Funds
The Foundation's Donor Advised Fund provides you with the opportunity to designate a gift for the college as well as any other eligible 501(c)3 charitable organization in the country. This avoids the need for you to set up your own private foundation and significantly reduces the administrative reporting, legal requirements, and cost.
Our purpose in offering this fund is to provide another option for you as we move forward with announcing our major gifts campaign. This option will not be a panacea but may attract you if you have an interest in the Central Florida Community College, and also want choices. This option will enable you to provide immediate support for the college and allow you to make an immediate or later decision to support the Community, In any event, your gift to the Donor Advise Fund will give you an immediate tax deduction.
To establish a fund, you will need to complete a simple application form. You then deposit an irrevocable gift (e.g. cash, securities, real estate) to establish a Donor Advised Fund account; any gift may be anonymous. All gifts immediately qualify for a tax deduction. For the non-CFCC portion, an individual account will be established in your name.
The CFCC portion of the your gift is treated exactly like any other Foundation gift. For the non-CFCC portion, you will recommend to the Foundation, that a grant(s) be given to any qualified 501(c)3 organization(s) in the country. Grants will be awarded twice annually, June 15 and December 15, in minimum amounts of $500. Quarterly status reports will be given to each donor.
Outline of Conditions
Donor Gift |
CFCC Portion |
Non-CFCC Portion |
| Initial Gift of $10,000 minimum |
50% or more |
Up to 50% |
| Future Gifts $1,000 minimum |
50% or more |
Up to 50% |
| Eligible for Match? |
Yes |
No |
| How Invested? |
Asset allocation used by other CFCC Foundation funds |
In a single asset allocation mutual fund investment account |
| Administrative Fee |
Same as all Foundation funds |
1.5% annually, deducted monthly |
| Length of Donor's Gift |
One time or in perpetuity |
One life or maximum of 20 years, whichever is less |
The Foundation Board reserves the right, with a 60 day notice to the donor, to close any non-CFCC account if there are insufficient funds to maintain the account. Any proceeds remaining in the non-CFCC account at the end of its life cycle will automatically be converted to the general Foundation Endowment Account, and may be eligible for state match funds.
You will benefit from the expertise and knowledge of the Foundation's thirty-five member Board, which has had a fiduciary responsibility to the college and public for over 41 years. All funds are professionally managed. A public accounting firm will provide annual reports to the College and Foundation Boards certifying the accuracy and use of all funds.
At your request, the Foundation will assist you by suggesting qualified non-CFCC organizations meeting your areas of interest. The Donor Advised Fund option will help us attract gifts to better serve our students while providing a broader range of services to you and our community.
