Field of Interest Fund

What is it?  A Fund to issue financial support to either a particular area of interest or a particular group of people.

Best for the following:

  • Individuals that want to support specific programs at a variety of nonprofits that are focused on the same broad category of need (i.e animal welfare, early childhood education, etc.);
  • A company wanting to establish an employee disaster relief fund for employees across the nation.

What are the benefits?
1. YOU CHOOSE the area(s) to support
Do you want to support a particular field of interest such as Veterans, the arts or animal welfare?  Does your company's reach span across the country and you would like to establish an employee disaster relief program?  YOU decide the criteria for applicants and CTCF will manage the application process.

2.  TAX-FREE GROWTH
If you choose to have your Fund invested at CTCF, any gains achieved by the Fund are tax-free growth that you can use to provide more support to your chosen field(s) of interest. Each month you will receive a report showing the activity of your Fund, tracking both deposits and distributions. *Past returns are no guarantee of future performance.

3. DOUBLE your FUND
A Field of Interest Fund at CTCF qualifies as a recipient of an employer charitable matching program.  Check with your employer to determine if they have a charitable matching program and how much they match annually.

4.  SIMPLIFY your tax DEDUCTIONS
If you are leveraging an employer charitable matching program, any donations from your paycheck (initiated by you, via your employer) to your Fund will be included in your W-2 at the end of the year.  This simplifies your giving by reducing the donation letters you would normally have to keep track of in order to include them as tax deductions!

5.  AVOID Capital Gains or Ordinary TAX
If you have proceeds from a stock sale that you are planning to donate, be sure to consider gifting the stock directly to your Fund.  Instead of selling the stock, paying taxes and then being left with a smaller amount to donate, verify how long you have owned the stock.  You may not have to pay capital gains tax if you have owned the stock longer than one year or ordinary tax if less than one year when you gift the stock directly to your Fund.

 

How do I establish a Field of Interest Fund?
You will need to fill out the “Fund Agreement” which includes choosing a unique name for your Fund.  The Fund Agreement outlines the parameters of your Fund, and areas such as the following are covered:

  1. Who will be the primary advisors for the Fund and who will be on the application review committee?
  2. What are the parameters that will be used to determine eligibility to receive a grant or relief payment from the Fund?
  3. Do you want the Fund to be invested?
  4. Administrative costs to establish and maintain the Fund.

To review a copy of the Fund Agreement or for more information, call or email Julie Johnson at (512) 863-4186 or juliejohnson@chisholm-trail.org.