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Hampton Roads Community Foundation
Donor Advised Fund |
Private Foundation |
| Donor Involvement |
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Donor recommends grants to nonprofit organizations that are approved by the Hampton Roads Community Foundation board of directors. |
Donor appoints board, which controls investments and grantmaking. |
| Tax Status |
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Public charity. |
Private charity. |
| Income Tax Deductions for Gifts of: |
| Cash |
Up to 50% of adjusted gross income. |
Up to 30% of adjusted gross income. |
| Appreciated Stock |
Fair market value up to 30% of adjusted gross income. |
Fair market value up to 20% of adjusted gross income. |
Real estate and closely held stock |
Fair market value up to 30% of adjusted gross income. |
Cost basis up to 20% of adjusted gross income. |
| Grantmaking Support |
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Professional staff is available to help donors with grantmaking, provide input on community needs, and verify nonprofit status of groups. |
Donors must arrange and support their own grantmaking and monitoring structure (unless it has its own staff) |
| Start-up Costs |
Initial Costs
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None.
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Several thousands of dollars for legal and accounting expenses and filing fees. |
| Minimum Contribution |
$25,000 or more |
Typically millions of dollars. |
| Administration |
| Ongoing costs |
Pooled administration; low annual fee. |
Several thousand dollars for legal and accounting expenses and filing fees. |
Reporting |
Hampton Roads Community Foundation handles all reporting. |
Annual 990 tax form must be filed. |
