The Cobb Community Foundation (“CCF”) was created in 1993 by a group of Cobb County business leaders to make it easy for everyone to give back to their community.
CCF provides multiple vehicles through which individuals, families, businesses and other organizations can contribute cash, marketable securities, real estate and other assets for charitable purposes. Donor Advised Funds allow most of the functionality of a private, family or corporate foundation without the corresponding complexities and costs.
You can create a Donor Advised Fund with as little as $5,000 with the completion of single form. You add to that fund whenever you choose, and with every contribution, you receive immediate tax benefits.
You can recommend which IRS-qualified public charities will receive grants from your Donor Advised Fund, when and in what amounts. You can even decide who will make those recommendations when you are no longer able to do so. Donor Advised Funds be funded with cash, although it often makes more sense to use low-basis assets or in some cases even real estate or closely-held business interests.
Likewise, these funds are often created in high income years, such as years when deferred comp is recognized, or real estate or other assets sold at a gain. While Donor Advised Funds can give to any public charity, including those outside of Cobb County, there are no requirements for when these grants must be made, giving the donor whatever time is needed to make those decisions.
A Scholarship Fund can be an ideal mechanism for companies, service clubs and other organizations to support the education of employees, family members of employees and other students meeting the selection criteria established. The Cobb Community Foundation can guide you through the process of defining your criteria, creating your application, appointing your selection committee, and evaluating and notifying your candidates. Likewise, we can simply handle all of it for you, if you would prefer.
A Designated Fund allows you to support a designated charity and make it easy for others to do so, as well. You can participate in decisions regarding the timing and amount of payments from the fund to your designated charity or simply have the Cobb Community Foundation coordinate those decisions with the charitable beneficiary.
Designated Funds are often created as endowments, although that is not a requirement. A Field of Interest Fund supports a particular cause, such as the arts, animal welfare, education or homelessness. Like a Designated Fund does for a single organization, a Field of Interest Fund makes it easy for you and others to ensure that resources are available to support those initiatives and organizations which focus on the causes that matter most to you.
Field of Interest Funds can be endowed or non-endowed. Unrestricted Funds are the choice of donors who want their gifts to address the community’s changing needs, both now and for generations to come. When you create a community endowment, or give to an existing one, you know that your gift will be available when and where it is needed most.