Communities Foundation of Texas Supports Private Foundations

A private foundation can be a great vehicle for charitable giving, but sometimes the process of managing the foundation’s operation can add stress to the joy of giving or become a burden. Communities Foundation of Texas (CFT) can work with you to find a solution that makes your giving simple and fulfilling.

Utilizing CFT Staff Expertise

In the growing landscape of philanthropy and nonprofit organizations, we understand that it can be difficult to find and/or assess the right charitable programs to fund. Through the Giving GuideNorth Texas Giving Day, and other community grant initiatives, CFT staff have extensive knowledge of nonprofits in North Texas. We are happy to provide a curated list of funding opportunities and nonprofit needs that align with a foundation’s charitable values, stated purpose and goals. Additionally, CFT can operate a separate grant application process and provide review and vetting services, if desired. Many individuals, foundations and corporate partners rely on CFT staff knowledge and experience to find specific grant opportunities.

Beyond our philanthropic services, foundations may utilize CFT to make grant payments on behalf of the foundation. CFT staff will ensure that the nonprofit recipients meet the necessary due diligence requirements, handle all check processing needs, and can also write grant agreements to provide reporting on the use and impact of funds.

Conversion of the Private Foundation

At different times in the life of a private foundation, we understand that an individual or family may need to decide if operating the foundation is the right thing. Administrative expenses, IRS compliance regulations and changing family dynamics can all impact the joy and the success of maintaining an independent charitable organization. We have worked with many people to retire the private foundation entity in favor of opening a donor-advised fund because the fund allows them to maintain the same name, identity and charitable goals as the current foundation without the administrative burden. Multiple generations can be part of the granting process, like with a board, ensuring that family values of philanthropy get passed down. Charitable giving, without the burden of administration, can be a welcome option at some point in the life of the foundation, and we are happy to explore all options with you or your client.

I would be happy to talk about the ways in which CFT can assist with the administration of your private foundation! Feel free to reach out to me at 214-750-4146 or cnewham@cftexas.org.

Impact in the Wake of Tragedy

On July 7th as we were all devastated by the violence downtown and the loss of lives of our dedicated police force. Early in the morning of the 8th, Communities Foundation of Texas staff were at work to find the best way to respond and be impactful in our community.  Quickly we were able to:

  • Open CFT’s fund for disaster relief and recovery to receive outside contributions and grants for middle to long-term support. CFT’s intention in these instances is to encourage all contributions for immediate support, but to also provide a place for people to support recovery and healing after the immediate needs are met. We ask “What will the community need to get beyond the initial damage and destruction?” Many donors and CFT fund holders have given money to support the long-term healing and community unity work needed to be not only whole, but better.
  • Quickly provide the online giving form and support for WFAA to seek contributions for the Assist the Officers Foundation. This page went live and was broadcast by WFAA and the Tegna network across the state and has resulted in more than $300,000 raised for victim support. We are grateful to be a long-time partner with WFAA in all of their charitable outreach.
  • Assist Craig and Kathryn Hall with utilizing their full network to raise dollars for all shooting victims. CFT has had a long relationship with the Halls and when the Halls wanted a quick and efficient way to raise support, they turned to CFT to create a new fund. Their giving page quickly in order to offer a $100,000 match through the family foundation for all contributions raised.

CFT was able to act quickly and with an eye toward the future of our community in our response due to the strong relationships we have developed with donors. The ability to use these strong bonds to be quick, efficient, responsive and timely for our fund holders and our community is critical, and it is the reason we are all proud to be part of CFT.