Ideas for Giving
Giving Back ~ Starting A FundCFSOMD is a 501 c3 tax exempt, public charity created by and for the people of southern Maryland. We are made up of charitable funds from many different local donors which are used to address local, regional and national needs.
The Funds at the Community Foundation are used to provide grants and scholarships for 501 c 3 non-profits, educational institutions (private/public/religious) and governmental agencies. Funds may be endowed (perpetual funds – grants given annually) or non-endowed (grants given throughout the year).
Community Foundations are not limited in their focus and represent a broad area of interests including but not limited to:
Opening a fund is simple.
There is no maximum amount to establish a Fund.
The minimum amount needed to open a fund is $5,000.
The advantages we offer to a donor lie in our ability to simplify the giving process, by offering flexibility, local expertise, and administrative convenience. We can accommodate nearly any kind of giving a donor wants, either a present gift or deferred. We have staff members who can help you define your giving interests, arrange site visits, research worthy charities in all areas of the country, we handle all check writing, and other backroom functions. We have investment advisors who handle all the investments for our endowed Funds.
What is an endowment? An endowment is a permanent fund on which the earnings are available for grants for nonprofit organizations while the principal (the amount deposited into the fund) remains intact. The amount available for the grants are based on the Community Foundation’s spending rate. Our current spending rate is 4%.
Every donor who establishes an endowed fund at the Community Foundation of Southern Maryland receives quarterly statements detailing all transactions in and out of the fund and investment performance. Wherever the funds are invested, the donor may recommend to the Foundation on where to spend/grant the income/earnings only, based on the Foundation's spending rate. The non-endowed funds may be spent/granted in whole or however the donor chooses and the spending is not based on a spending policy. Both endowed and non-endowed funds are able to accept donations at anytime.
The advantages we offer to a donor lie in our ability to simplify the giving process, by offering flexibility, local expertise, and administrative convenience. We can accommodate nearly any kind of giving a donor wants to do, either a present gift or deferred. We have staff members who can help you define your giving interests, arrange site visits, or research worthy charities in all areas of the country. We have a financial staff that handles all the investments (if desired), check writing, and other backroom functions.
Because we are a public charity and not a private foundation, federal law does not require us to distribute any set amount in grants each year, so donors can contribute more to the fund in one year, then recommend grants over time as their giving interests dictate. Most gifts from donor advised funds go to IRS-recognized public charities.
A new Maryland state tax credit called "Endow Maryland" will reward donors who help build permanent charitable funds for local communities across the state—and right here in Southern Maryland. Learn more about the benefits and how to apply.
What is philanthropy? The word is of Greek origin, meaning, "Love for humankind." Today, philanthropy includes the concept of voluntary giving by individuals or groups to promote the common good.
Philanthropy addresses contributions by individuals or groups to other organizations that in turn work to alleviate the causes of poverty or social problems—improving the quality of life for all citizens.
Philanthropic giving also supports a variety of activities in the areas of research, health, education, arts and culture, and environmental issues.
Ways to become a philanthropist with the Community Foundation of Southern Maryland
The Community Foundation of Southern Maryland Accepts: