How do I start a fund at TCF?
Just call (918-494-8823) or e-mail ( firstname.lastname@example.org) TCF. TCF can set-up an appointment for you to meet with one of its staff members to discuss your charitable goals and how TCF can assist in meeting them.
What is the minimum gift required to start a fund at TCF?
For most types of funds, TCF requires an initial deposit of $5,000. Supporting Organizations generally open with $500,000 or more. Learn more about the differences between the types of funds TCF offers.
Can I name the fund I create?
Absolutely, that’s part of the fun! Remember, the degree to which you choose to be recognized is reflected in the name of your fund. You may name the fund after yourself or your family, or in memory of a loved one. You may also name the fund after a particularly meaningful concept, such as “Gratitude,” or give it an entirely original name you create.
What are the tax benefits to a fund at TCF?
Unlike gifts to private foundations which are limited to a 30% deduction based on a donor’s adjusted gross income, charitable contributions to community foundations can be deducted for amounts up to 50% of a donor’s adjusted gross income. Learn more about the differences between TCF and a private foundation.
What types of assets can I contribute to TCF?
Almost anything. See our list of commonly contributed assets.
Can other people contribute to the fund I establish at TCF?
Absolutely. Just have them write the name of the fund in the memo line of their check.
Can grants from TCF benefit nonprofits outside the Tulsa area?
Absolutely. Many of our funds assist nonprofit agencies in surrounding area such as Bartlesville, Oklahoma City, and Idabel. In addition, our donors commonly support efforts throughout the United States and in a few foreign countries.
Will my grant requests always be honored?
Although donors may make suggestions and grant recommendations, TCF maintains primary control over all grantmaking activity. The foundation keeps the wishes of donors in mind for all decisions, and seeks to fulfill these wishes as fully as possible. TCF performs due diligence on the recipient nonprofit for each grant made.
Are grant requests limited to a certain amount?
No. The only limit to a grant amount is the balance in the fund.
Does TCF assist donors in finding high-quality nonprofit organizations to support?
Yes, often. TCF’s program staff have developed worksheets to help new donors identify their values and define their philanthropic goals. Once donors have a clearer picture of their goals, staff can arrange tours and introductions with local agencies.
How long does it take for a grant distribution requests to be processed?
Please allow a window of 10 business days for grant requests to be processed and mailed to the appropriate nonprofit agency. However, TCF staff strive to process all grant requests as quickly as possible.
What if I pass away? What happens to the money in the fund I advise at TCF?
Donors commonly name successor advisors to funds at TCF – often a trusted friend or family member. Funds without successor advisors are directed by the TCF Board of Trustees. TCF strives to ensure that these “trustee-advised” funds continue to support the same types of agencies and causes the donor supported during their lifetime.
Can I get a refund of a gift I make to TCF?
All gifts to TCF are irrevocable, just as they are to other charitable organizations under Internal Revenue Code guidelines.