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FJC Programs
CGF programs
CGF Menu Options:
- What is an FJC Collective Giving Fund?
- How Does an FJC Collective Giving Fund Work?
- How Do I Establish a Collective Giving Fund with FJC?
- What Are the Advantages of FJC Managing a Collective Giving Fund?
- Collective Giving Fund FAQ
FJC Collective Giving Fund FAQ
Why do people need Collective Giving Funds?
Collective Giving Funds give groups the opportunity to pool together their resources in support of organizations or causes. Since the CGF is managed by FJC, participants can concentrate on their goals for the collective, without having to worry about the administrative oversight or tax burdens of an independent organization. FJC solves these problems by accepting tax-deductible donations designated for the CGF, providing tax receipts to donors, managing the funds maintained in the account, and completing all due diligence on grant distributions.
What fees are involved for FJC’s services?
FJC applies an administrative fee of 1% annually, based on the average daily balance of the account. Additionally, we apply a transactional fee on funds received, which is typically set for the agreement term at 2%, depending on the expected volume of contributions and distributions. Unlike many other community foundations, we do not charge an application fee, renewal fee or minimum balance fee.
What types of assets can be contributed to my Collective Giving Fund?
Contributions to a CGF can be made in the form of cash, via credit card or appreciated securities (including mutual funds) at any time, for any dollar amount. To benefit from a fair market value deduction, securities must be held for at least one year.
FJC can also accept, with prior approval, other forms of property, such as stock in privately held companies, “144” stock and other restricted securities, and interests in real estate and other properties. Please contact FJC to discuss contributions of this nature.
How are grant recommendations made?
Advisors on the CGF may submit grant recommendations via email, online using the secure FJC DonorWeb, or in writing on a customized Grant Recommendation Form by postal mail or fax. Please note,we cannot accept recommendations over the phone.
Are there any limitations on the amount of grants that can made from a CGF?
An Advisor may recommend any number of grants from a CGF during the year. The only requirement is that each grant recommendation is for a minimum of $100 and there are enough funds in the account to honor the recommendation at the time it is submitted.
FJC will contact the Advisor if the recommendation does not meet the minimum amount, if there are insufficient funds in the account, or if we have any other questions or concerns regarding the recommendation.
What types of organizations are eligible to receive a grant from a CGF?
You may recommend grants to any qualified tax-exempt organization, or qualified religious institution, in good standing with the IRS. Distributions can also be made to international charities and qualified domestic organizations that have not yet received their tax-exempt ruling that meet due diligence requirements and are approved by FJC for distributions on an agreement and reporting basis.
What types of payments are not eligible for distribution from my Collective Giving Fund?
FJC cannot honor the following recommendations from your Fund:
Pledges - FJC cannot honor pledges that have been made to an organization. his is a personal obligation that you have entered into and cannot be honored through a CGF. FJC can honor solicitation requests.
Tuition - No form of tuition, or the enrollment fees for extracurricular activities, can be paid from a CGF. If a distribution to a school is submitted without a specific designation, FJC will confirm with the school, in writing, that the funds received will not be applied to the tuition of any particular individual.
Non-deductible Portion of Memberships or Tickets - FJC can only distribute the deductible portion of memberships and tickets to events from a CGF. We will gladly include personal checks for the non-deductible portion with our check and letter sent to the organization.
Gift Intended for the Benefit of One Named Individual - FJC cannot honor recommendations for gifts that will benefit one named individual. For example, “Please apply this gift towards the tuition of John Smith.”
Gifts can be designated for funds being raised by a particular individual for an event. For example, “This gift is designated for Jane Smith’s participation in the Race for a Cure.”
As an Account Advisor, if you are not sure if a gift qualifies for distribution from a FJC Collective Giving Fund, please contact our office for clarification.
Can the investment choices for the Fund be changed?
An Advisor may recommend a reallocation of the account balance among FJC’s investment choices three times each calendar year. Special investment options are available for balances in excess of $1 million, subject to FJC’s review and approval. FJC may allow the investment of account funds to be managed by investment managers outside of our in-house options.
Who can be named as Advisors on a CGF?
Each Collective Giving Account may have up to three Advisors at any one time. Advisors may recommend the investment allocation of the account balance and request distributions from the CGF.