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Capaciteria.org - The Nonprofit Capacity Resource Index
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
How The Collective Giving Fund Works
Once the Advisors on the account have been selected and they have completed the Collective Giving Fund Letter Agreement and Application, the CGF is ready to start receiving donations. There is no minimum initial contribution required to establish a CGF, nor any restrictions on subsequent contributions. Contributions of stock, or other appreciated assets held for one year or more, avoid capital gains tax on the appreciation. Funds received by FJC for a CGF are invested based on the account’s Investment Allocation and are available for distribution at any time. The investment income earned on the account helps defray the modest administrative fees charged to cover program costs.
Individuals, corporations and other foundations are free to make contributions to the account at any time. There is no minimum amount for contributions. All donors will receive a tax receipt from FJC for their contribution per Federal requirements.
Account Advisors may recommend an unlimited number of grants, for a minimum of $100 each, to qualified U.S. public charities or, through FJC’s Grant Assistance Program, to certain other qualified domestic and overseas charities and projects. All grant checks can identify the name of the fund or be sent anonymously and are accompanied by a letter that includes the name of the fund and the Advisor that recommended the grant, as well as any special restrictions or instructions requested by the Advisor. Click here to see a sample of the standard transmittal letter sent to an organization. Account Advisors may submit grant recommendations via the FJC DonorWeb, email, fax, or postal mail at any time.
Advisors on the account may view the account activity online at any time. They may also recommend a reallocation of the account’s investments three times each calendar year, allowing for all contributions to be maximized to the fullest extent. All Advisors, and other authorized account representatives, can receive a Quarterly Statement of Activity for the account.
All contributions received on behalf of the account will be subject to a modest transactional fee of 2%; the balance of the contributions received is applied to the account. There is also an annual fee of 1% of the average daily balance maintained in the account. This fee is posted to the account quarterly at a rate of ¼ of 1%.