Advantages of the Community Foundation

We work with advisors and donors every day to help them better our community. The advantage of a community fund is that it can pool resources and provide even greater assistance. We can also provide tax advantages and secure accountability on all gifts.

Start Your Own Charitable Fund: Through the Foundation, an individual, family, company, foundation, or charitable organization can establish funds tailored to general or specific interests. You will find it's easy to become part of the philanthropic cycle-and the Foundation staff assists with everything.

Create A Lasting Symbol: You may choose any name for your fund, and grants awarded will always be recorded in that name, a lasting symbol of your interest and concern. Should you desire anonymity, the Foundation will protect your identity. Your gift benefits the community in perpetuity.

Take Advantage of Significant Tax Savings: As a public charity, the Arlington Community Foundation offers the highest level of tax benefits for charitable giving. You may contribute cash, publicly traded and closely held stock, mutual funds, real estate, insurance policies, or tangible personal property and receive the maximum tax benefit according to Internal Revenue Service rules. The Arlington Community Foundation has been classified by the Internal Revenue Service as tax exempt under Section 501 (c) (3) of the Internal Revenue Code; as a "publicly supported organization" under Section 170 (b) (1) (A) (vi); and as "not a private foundation" under Section 590 (a). As such, the Foundation is not subject to the excise tax levy and various restrictions placed on private foundations by the Tax Reform Act of 1969.

Benefit from Professional Management: Foundation funds are invested in a balanced portfolio that produces funds for grant making while providing for asset growth and security of principal.

Accountability: A volunteer Board of Trustees comprised of 28 Arlington County community leaders sets policy and approves all grants. Board members are appointed for rotating three-year terms.

•·         A Finance and Investment Committee oversees the investment of the Foundation's assets and a Program and Distribution Committee reviews all competitively awarded grant applications and makes recommendations to the board for final approval. All grant requests must be approved by the Board of Trustees.

•·         Donors who establish named funds receive periodic reports on their fund's progress showing additions to the fund, income earned, and grant payments made. A yearly independent audit by a certified public accountant ensures fiscal responsibility.

•·         A full-time professional staff administers the Foundation and there are no hidden costs. A low 1.25 percent administrative fee covers all fund management and periodic reporting-99 percent of your gift goes where it should, to the community.

The Arlington Community Foundation has been classified by the Internal Revenue Service as tax exempt under Section 501 (c) (3) of the Internal Revenue Code; as a "publicly supported organization" under Section 170 (b) (1) (A) (vi); and as "not a private foundation" under Section 590 (a). As such, the Foundation is not subject to the excise tax levy and various restrictions placed on private foundations by the Tax Reform Act of 1969.