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FJC Programs
YPF programs
YPF Menu Options:
- What is an FJC Young Philanthropist Fund?
- How Does a Young Philanthropist Fund Work?
- How Do I Establish a Young Philanthropist Fund with FJC?
- What Are the Advantages to Opening an FJC Young Philanthropist Fund?
- Young Philanthropist Fund FAQ
FJC Young Philanthropist Fund FAQ
What types of assets can be contributed to an FJC Young Philanthropist Fund?
Donors can make additional contributions to an FJC Young Philanthropist Fund (YPF) in the form of cash, via credit card or appreciated securities (including mutual funds) at any time, for any dollar amount.
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.
What will donors need for their tax records?
Each time a contribution is made to a YPF the donor will receive a tax substantiation letter as required by the Internal Revenue Service.
Although we ask organizations which receive grants from your Fund to acknowledge your gift, this is not a tax receipt. Donors receive their deduction at the time they contribute to your FJC Fund; you will not receive a deduction when you recommend grants to a charity.
How are grant recommendations made from a Young Philanthropist Fund?
Unless FJC is instructed otherwise at the time the account is opened, the Young Philanthropist may submit recommendations on their own. The Recommenders may submit grant recommendations via e-mail, online using the secure FJC DonorWeb, or in writing on their customized Grant Recommendation Form by postal mail or fax. Please note we cannot accept recommendations over the phone.
Are there any limitations on the number of grants that can be made from a YPF?
The Recommenders may recommend any number of grants from the YPF during the year. The only requirement is that each grant recommendation is for a minimum of $180 and there are enough funds in the account to honor the recommendation at the time it is submitted.
FJC will contact the recommender if their request does not meet the minimum amount, if there are insufficient funds in the account, or if FJC has any other questions or concerns regarding the recommendation.
What types of organizations are eligible to receive a grant from a YPF?
Grants may be recommended 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 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 a YPF?
FJC cannot honor the following recommendations from your Fund:
Pledges - FJC cannot honor pledges to an organization. This is a personal obligation that you have entered into and cannot be honored through your YPF. FJC can honor solicitation requests.
Tuition - No form of tuition, or the enrollment fees for extracurricular activities, can be paid from the Fund. 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 the Fund. We will gladly include the recommender’s personal check 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.”
If you are not sure if a gift qualifies for distribution, please contact our office for clarification.
Can the investment choices for the YPF be changed?
Recommenders on the account 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 teh investement of account funds to be managed by investment managers outside of our in-house options.