Philanthropists feel good about doing good when they establish charitable community funds and endowments at the Lake Community Foundation.

They are assured a secure place for their charitable donations where funds and endowments are grown and preserved according to prudent investment principles. Philanthropists also benefit from the combined wisdom of a board of directors who are local community leaders and recognize the needs of their community.

Community Foundations

What is a “community foundation”?

A community foundation is a public charity established to serve specific charitable interests or charitable interests in a designated geographical region…more


How does a community foundation differ from a private / family foundation?

The benefits of working with a community foundation are numerous.
They include: Cost, Tax, Privacy, Payout, Administrative and Professional
Advantage…
more


How many community foundations are there and what are their assets?

There are more than 700 community foundations in the United States…more


Why should I choose to work with LCF?
… tax benefits of planned giving, or to simplify their giving, or to leave a legacy for generations to come. An important specific reason is that the LCF board of directors consists of community leaders who know the needs of the community…more









Is my gift to the Lake Community Foundation tax deductible?

Yes. LCF is recognized by the U.S. government as a 501(c) (3) non-profit…more

 

Are there other benefits of establishing a fund with LCF?

Yes. Here are several more reasons and benefits of working with the Lake Community Foundation: Flexibility to create a fund tailored…more


Can I honor my family name through a gift to LCF?

Yes. Endowments, donor advised funds and special scholarship funds are frequently named after individuals or families…more


What are the various fund types or donor relationships possible when working with LCF?

…Donor Advised Funds, Unrestricted Gifts, Designated Beneficiary Funds and Field of Interest Funds. In addition…more


Can corporations establish a fund relationship with a community foundation like LCF?

Yes.


How do I set up a fund with the Lake Community Foundation?

…as easy as making a phone call: 352.357.7259…more


I’d like to give but I still need income. Can LCF help?

Yes. Life income gift arrangements, such as charitable gift annuities…more


What does it cost to set up a Donor Advised Fund?

There are no out-of-pocket expenses…more


What is the definition of an endowed fund? Is that the same as a trust?

An endowment is a long-term fund invested with two key objectives…A trust is created as a legally distinct entity…more


When I make a gift to LCF, can I direct how the funds are to be invested?

Yes, at the time the fund is established you may choose…more


Why should I make my contributions to LCF with a Donor Advised Fund rather than make donations directly to the individual charities?

It’s smart…it’s simple…it’s satisfying…more