What is the Community Foundation of Portage County?

The Community Foundation of Portage County is your trusted local resource for charitable giving. It is a nonprofit organization created to provide a lasting source of charitable giving through endowment funds. Our job is helping donors share, both now and for generations to come.

Donors may contribute to a number of funds already established within the umbrella structure of the Community Foundation, or fulfill their personal philanthropic vision for the community by choosing to start their own fund.

The Community Foundation offers permanence, simplicity, tax advantages and flexibility.

How does Community Foundation work?

Donors create their charitable funds with tax-deductible gifts of cash, stocks, real estate or other property. All funds are pooled and prudently invested by money managers that are approved by the Foundation's Board of Directors. A percentage of the money in each fund is available annually for grants that support the work of nonprofit organizations and programs of 501 ( c ) 3 locally, statewide, nationally or across the globe. The principal grows right here at home building gifts that keep on giving.

Why work through Community Foundation of Portage County?

Convenience. Local expertise. Permanent giving. Tax advantages. We work with you to make charitable giving as easy as possible. We have a strong board of directors consisting of local community leaders. Our staff knows Central Wisconsin and our local nonprofit organizations and changing needs.

An endowment can serve to teach philanthropy to your children and continue your giving in perpetuity. We are dedicated to carrying out your charitable wishes today and for generations to come.

What is an Endowment?

Think of a savings account where only the interest earnings can be used. As additional gifts are made and the base of the fund (sometimes called the corpus of the fund) grows, the interest earnings also grow.

The Community Foundation manages over 100 such funds at this time and there are more funds being developed regularly. Unlike a savings account, however, the Community Foundation pools these funds and oversees the management of all of the combined assets to maximize the gains and minimize any fees. Then, the earnings are proportionally returned to the individual funds to be distributed to the various causes for which they were developed.

In this manner, endowed funds give now, and go on giving back to the community forever. Donors are able to leave a legacy to those organizations or programs that they want to make sure are there for future generations.

How are Grant Recipients Chosen?

Grant recipients are chosen in different ways, depending upon the type of fund.

Donor Advised Funds allow donors, and successors they choose, flexibility to recommend how the grant money is spent.

Designated Funds provide donors with a way to recommend annual grants to one or more charitable organizations. Scholarships are included in this category.

Donors who want to support the changing needs of a particular cause, such as the arts, women's issues, the environment, etc., may set up a Field of Interest Fund. Most grants are awarded through a competitive application process that is determined by the board.

Donations to a Non-restricted Fund are distributed through an annual competitive grants process. The Grants Committee recommends the projects for approval by the Board of Directors.

Supporting Organization Funds have their own boards and award their own grants, with the Community Foundation handling the financial and administrative work. Often smaller family foundations fall into this category.

How can I afford to Give?

More than 4000 people have contributed to the Community Foundation in one way or another since it was created. Many would not be considered wealthy. But today, everyone who has ever given is a (shared) millionaire!! That's right, we share assets of millions of dollars that have grown over time and are now giving back to the community we love.

Donors can make a gift of any size to an existing fund. Just send your contribution to the Community Foundation and note the fund in which you would like your gift deposited.

Those wishing to endow a new fund may start the process for as little as $600. In ten years, an annual $600 gift will have grown into $10,000, the level where the endowment begins to return grants to the community in perpetuity.

Contact the foundation at (715) 342-4454 or email us at foundation@cfpcwi.org to set up a time to chat about your philanthropic dreams for our community.

What is the difference between a Community Foundation and a Private Foundation?

Community Foundations are simpler and often more economical than a private foundation. A named donor advised fund through a community foundation is like having a "foundation within a foundation."

While enjoying the fun of recommending grants, the donor avoids excess regulatory rules, excise taxes, accounting and legal fees, tax reporting, managing investments, audits or other federal reports.

The above is often a good alternative for those thinking of a private foundation but do not have several million in assets. There is a slight loss of control, however, as the community foundation will reserve variance powers to insure that all processes are legal, that grants go to charitable organizations/projects and that the donor is making grants consistent with their purpose statement.

Private Foundations maintain total control of their assets. To keep up with and follow the laws, they will often opt to hire administrative and legal staff to coordinate the efforts of their foundation. While there is no magic number, the efficiency of a private foundation is gained only when very large assets are being managed.

Recently, a new category has been developed that is a bit of a combination. Private Foundations that want to have their own boards and do their own granting, but wish to have a community foundation do much of the administration are doing this through what are known as Supportive Organizations of community foundations

The Community Foundation of Portage County values all efforts to give back to the community and will work with all individuals, families, foundations or organizations in any way possible to maximize our ability to collectively make this community the best place in which to grow, to work, to play and to retire.

Can I involve my financial advisor or attorney in establishing a fund?

Absolutely. We often work with area professional advisors to make sure that donors get the greatest tax advantages from their charitable giving.

In fact, your professional advisor is often in the best position to determine the right financial vehicle for your family as well as your charitable interests.

Once you have made your decisions and are comfortable sharing your ideas, we look forward to sitting down with you and your advisor to work things out in the most efficient and effective manner for you to give.