Geneseo Is For Tomorrow
Questions
Why was GIFT established?
GIFT is a component fund of the Quad Cities Community Foundation and as such we are the only organization in Geneseo that can offer the benefits of a legally designated Community Foundation. Other foundations in our community are private foundations. Being a Community Foundation allows donor flexibility to direct contributions to the area they want to benefit, provides greater tax benefits and allows them to maintain association with their gift if they so desire.
As a donor, what kind of recognition will I receive?
You will receive a written expression of thanks from GIFT's advisory committee and an acknowledgement of the gift in accordance with federal regulations. Your gift will also be recognized in our press releases, annual report and on our website. You can name your own GIFT fund so that grant recipients will be reminded of you and your generous caring for your community for years to come.
If I wish to make an anonymous donation, will my privacy be protected?
Yes.
If I wish to make a donation with proceeds going to a particular cause, can a donation through GIFT allow that to happen?
Yes, GIFT's donor advised funds allow you to customize how your gift will be used.
What are the benefits of donating through GIFT versus establishing a private foundation to further the benefactor that I designate?
There are several. There are tax advantages that allow more of your gift to be directed to beneficiaries. There are less governmental regulations and the expenses that are associated with complying with them.
Can I specify exactly what the funds I donate will be used for?
Yes. Your donation can be designated to benefit whatever organization or cause you choose.
Is GIFT operated under the supervision of, or have ties to the Chamber of Commerce, or any other community organization or business?
No, we are in no way affiliated with the Chamber of Commerce or any other local organization or business. GIFT is overseen by an Affiliate Advisory Board made up of Geneseo community citizens. We are a component fund of the Quad Cities Community Foundation.
What is the relationship with the Quad Cities Community Foundation?
GIFT focuses on serving the Geneseo and surrounding communities and emphasizes and advises local decision-making and grant making. We operate under the fiscal management and guidance of our host Community Foundation, which has met National Standards for U.S. Community Foundations. The Quad Cities Community Foundation is the host for GIFT and provides:
legal expertise
administrative staff support
education and marketing materials
networking
training
Can I direct my funds toward other local foundations?
Yes, as long as the donation is consistent with the by-laws of that foundation.
Can I continue to use my current investment adviser?
Yes, you can use your current adviser when contributing $500,000+ or you can choose to utilize the professional investment team offered by our host community foundation, the Quad Cities Community Foundation.