DONORS – Giving Opportunities
Will County residents who partner with The Community Foundation of Will County are diverse. They have individual charitable interests, unique family situations, and specific financial circumstances. However, they share one characteristic — they all want their giving to make an impact. They want to contribute to the betterment of Will County and its people for years to come.
The Community Foundation of Will County understands that every philanthropic agenda is unique and that the needs of the county are broad and evolving. In its own grant making, the Foundation prioritizes basic human needs, education, health and the arts. Our donor partners share these interests as well as many others, and we remain flexible to address a variety of evolving community needs. There are numerous options to consider as you work with us in defining your own giving program:
Donor Advised Funds
These funds, which may be endowed or expendable over a period of years, allow you to be actively engaged in the grant making process and to designate a successor generation of advisors. They are attractive alternatives to private family foundations because of their tax advantages and reporting. You benefit from all of the resources of The Foundation in establishing and increasing such funds as well as recommending the causes and organizations supported.
These funds enable the Foundation to continue to respond to evolving community needs and to develop new areas of support.
You may establish funds that are directed toward an area of interest or specify a charitable organization or organizations as the perpetual recipient/s of support. These funds may be established with endowed or expendable resources.
Field of Interest Funds
These funds allow donors to establish broad parameters for the use of resources, such as education, the arts, or people with disabilities. You may contribute to an existing field of interest fund or create one of your own.
The kinds of resources that may be used to establish—and increase—funds through The Foundation are as varied as the funds themselves. Commitments of cash, securities, and other property are the most traditional forms of fund support. Bequests often allow Foundation partners to launch or build funds with commitments not feasible otherwise. Beyond bequests, there are many other estate planning options to help you fulfill your charitable intentions. Just a few of these include:
Charitable Remainder Trust
This trust makes payments of a fixed percentage of its assets to you, a family member, or another loved one either simultaneously or consecutively for a period of time. At the end of this period, the remainder of the trust is paid to The Will County Community Foundation for charitable purposes.
Charitable Lead Trust
This is the reverse situation from a charitable remainder trust. The Community Foundation of Will County receives returns from your trust for a specified period. At the end of the “lead” period, as specified by the donor, the remainder of the trust is paid to designated family members or others.