Frequently Asked Questions

Frequently Asked Questions

Maximize the impact of your philanthropic gifts by making full use of our donor services.

How do I set up a fund?
To create a fund, you sign an agreement that conveys your irrevocable gift to Eastern Carolina Community Foundation. A donor advisor(s) is designated in the agreement as the only person(s) who can recommend disbursements from the fund – usually the donor acting alone or with another individual.

What is the minimum amount required to start a fund?
$5,000 is the suggested minimum to start an endowed fund, which enables you to make  grants from the fund’s interest. You can also build a fund over time by starting a Green Leaf Fund that requires a minimum donation of $1,000 with an agreement to reach $5,000 in 5 years.

How do I make additional contributions to my fund?
Additional contributions can be made at any time. Some funds receive automatic bank transfers monthly. Often funds receive additional contributions from a bequest or other types of planned giving.

How do I make a grant?
The donor advisor(s) recognized in the fund agreement may submit grant recommendations for one or more charities using a customized grant recommendation form. Grants may only be made to nonprofit organizations or churches, schools or government entities. Staff will research and document the charitable status of the proposed recipient using criteria established by our Trustees in accordance with IRS guidelines.

Who maintains contact with the grant recipients?
When the Foundation makes a grant, the recipient is informed by letter and a copy is sent to you as confirmation. The recipient receives a grant agreement that details any stipulations concerning the award. Unless you request anonymity, a grant distribution will identify the fund and the name and address of the fund’s primary contact person for acknowledgment purposes.

Can a grant recommendation be disallowed?
Yes. Certain grants are disallowed by IRS guidelines if personal benefit or services are rendered to the donor, donor advisor(s) and/or related parties. Common examples include:

  • Memberships in a nonprofit organization like museums or guilds.
  • Tickets to fundraising dinners or golf tournaments.
  • Goods purchased at charitable auctions and other fundraising events.
  • Gifts to a private foundation.
  • Gifts to individuals.
  • Gifts for lobbying purposes or to support political campaigns.
  • Gifts to fulfill legally binding personal pledges of financial support.

What about fund investment?
Fund investment  is under the supervision of a Finance and Investment Committee appointed by our Board of Trustees in accordance with our Statement of Investment Policy. Regular reviews are conducted to monitor investment performance and activity.

Can I involve my family?
Yes! Encourage your children to carry on your tradition of philanthropy by appointing them as successor advisors. Experience indicates that the legacy of philanthropic commitment is instilled through example and shared activities.

Can I support the community foundation in other ways?
Yes! There are many ways to support the community foundation. We invite you to join

  • Partners in Philanthropy by making a multi-year commitment of $1,000 or more
  • Friends of the Foundation by making an annual gift in any amount that is important to you. It’s just as important to us!
  • Women in Philanthropy is a giving circle of committed caring women who annually donate $500 — $250 for women 40 and younger — to collectively support Pee Dee charities.

Let us know of your interest in serving on a committee or the Board of Trustees. We welcome your input on any aspect of our operations.