Giving Fund

The Giving Fund has all of the benefits of a private family foundation and more. It is a flexible giving solution through which you may devote a portion of your wealth for the support of special ministries and nonprofits, receive an immediate tax deduction, and make grants at a later date.

Description of Services

For the individual families and corporations with the heartfelt desire to significantly influence your community during your lifetime, a Giving Fund is an outstanding way to achieve your passion. WaterStone will help you transform your assets into living water. Not only will your contributions facilitate your current tax planning, but you will experience—in a greater way—God’s joy in charitable giving. With additional testamentary funding by will, charitable trust, gift annuity, retirement plan or insurance policy, you and your family can leave your own personal stamp on history.

A Giving Fund is just what the name implies. Your initial advice to the fund is given to WaterStone via the application, which advises to whom, how much and when to give from the fund. You may revise your fund purpose by adding or deleting ministries or charities, saving you the time and expense of changing wills, trusts or other legal documents.

Characteristics of a Giving Fund:

  • A clear, specific purpose approved by the Board of Directors.
  • Minimum initial deposit of $1000 (except for deferred funds).
  • Grants may be recommended for 501(c)(3) organizations, scholarship programs, and Ministry Program Funds.
  • Grants may be recommended by application for non-qualified charitable, religious, educational, scientific, and health related activities.
  • Minimum grant amount of $100. Grant requests made online are at no charge. All other grant requests to qualified organizations will be assessed a $10 fee per grant.
  • The Fund will be responsible for any legal or other direct expenses incurred on behalf of the fund.
  • Investment of Fund assets is dependent on value.
    • Funds retaining $25,000 or greater may select an approved investment pool.
    • Funds retaining $200,000 or greater may recommend unique investment policy statements to be approved by the Investment Committee.
    • Qualified accounts may recommend an investment advisor.
  • Cash balances will receive an indexed money market return.
  • A deferred fund may be established to receive estate distributions upon giver’s death.
    • No minimum deposit
    • No current fees
    • Once funded, standard pricing schedule applies
    • For an immediate distribution, settlement and closure, 1% fee assessed.

FAQs

Do you have web access to my Giving Fund?

All Fund Advisors will be given a unique login with a password to access their Giving Fund through our WaterStone website at www.waterstone.org. The Online Fund View is available to manage all your fund’s transactions and to view your fund balances.

How do I make a gift?

There are several options available for cash gifts. Mail a check, make an online credit card gift or an electronic check gift. We can also establish an automatic electronic gift from your checking account with appropriate giver authorization.

Who do I make my check payable to?

Make your check payable to WaterStone # (insert your Giving Fund number) and send to 10807 New Allegiance Drive, Suite 240, Colorado Springs, CO 80921. Please do not send currency in the mail.

How do I make a gift via credit card or electronic check?

Credit card and electronic check gifts may be given through our website by selecting "Make a Gift," logging in with your unique login credentials and by completing the form. Alternatively, you may contact our office. There is a small fee for credit card gifts assessed to your Giving Fund.

May I make a regular electronic gift directly through my bank account?

Yes, we will be happy to accept regular electronic gifts. All we need is giver authorization and a voided check. Please contact our Giving Strategies team for more details.

Do you accept gifts of real estate, business interests, stock or other non-traditional assets?

Yes. The WaterStone passion is to help transform these types of assets into living water fit for the Kingdom of God. Please contact us and our capable staff will help determine the best solution for your personal charitable objectives.

When do I receive a contribution receipt?

Receipts are updated each Friday and are available online by logging into your Donor Fund View on WaterStone’s website.

An annual cumulative receipt will be mailed to you at the beginning of each year.

How will I know the balance of my Giving Fund?

You may access your Giving Fund account through the Online Fund View to obtain your current fund balance and view other transactions. WaterStone financial statements are available quarterly and will be posted to the Online Fund View with an email notification sent to you. All investment accounts will be updated as statements are received to their current fair market value. You may contact Giving Strategies for additional questions about your fund balance and transactions.

How do I request a grant to a ministry or charity?

To recommend grants is easy. Just access your account through our website at www.waterstone.org with your unique login and password. Using the Grant Recommendation menu, you may set up your favorite charities and ministries and submit grant requests. Regular recurring grants may also be established. You may also complete and submit a Grant Recommendation Form providing the name of the recipient, address, amount and the preference for the gift. There is a small fee of $10 for all grants that are not submitted through the Online Fund View.

What is the turnaround time for a grant check to be issued?

Checks are issued once a week, usually on Wednesday. Once the status of the charity or ministry has been verified by the WaterStone Giving Strategies team and there is sufficient cash available in your Giving Fund, the turnaround time can be less than a week. The time may vary for Giving Funds with investments (which must be converted to cash) and for requests to ministries or charities that must be verified for compliance qualification.

What type of ministries and charities can receive grants from my Giving Fund?

Grants may be recommended for 501(c)(3) nonprofit organizations and churches that are approved by our Board of Directors.

Are there any grants that are not acceptable?

WaterStone seeks to encourage givers undertaking a broad range of charitable and educational endeavors as well as direct Christian ministries. Our passion is to implement all recommended charitable giving not contrary to our Statement of Faith, current policies, or current guidelines of the Internal Revenue Service.

WaterStone however will not authorize distribution of charitable funds to advance activities that the Board of Directors through its Leadership deems to be inappropriate, in conflict with the Statement of Faith, or contrary to this organization’s purposes, even though such purposes may be legitimate for tax-deductible gifts.

The Internal Revenue Code specifically disallows charitable distributions which might:

  • - Provide private benefit to the giver or a related individual;
  • - Pay dues or membership fees;
  • - Purchase tickets to a charitable event or benefit, such as banquets, golf tournaments, auctions, or sponsorships;
  • - Pay a pledge made by a giver to another charitable organization;
  • - Pay for school tuition – except within the context of an established scholarship program;
  • - Support charities on the terror-watch list; or
  • - Support a political party or candidate for election.

WaterStone retains the ultimate right to determine approval or disapproval for distribution.

When a grant is given, how will the recipient know that I recommended the gift?

All grant checks include a notification stating your preference for the gift, the Giving Fund name, and your name and address.

May I give anonymously?

If you wish to remain anonymous, just let us know by checking the box, “Make this Grant Recommendation Anonymous” in the Online Fund View Grant Recommendation or on the Grant Recommendation Form.

May I recommend grants from my Giving Fund for foreign organizations or to organizations that do not have their tax-exempt status?

Grants recommended for unqualified charitable or religious activities may be supported as an extension of the mission of WaterStone. The WaterStone Board of Directors reviews all grants recommended for non-501(c)(3) charitable and ministry activities submitted through the Grant Application process. Please contact Giving Strategies for more details.

How will the assets of my Giving Fund be invested?

Investment options are dependent on the total assets available in your Giving Fund.

  • - Funds retaining $25,000 or greater may select an approved investment pool.
  • - Funds retaining $200,000 or greater may recommend unique investment policy statements to be approved by the Investment Committee.
  • - Cash balances will receive an indexed money market return.

Contact Giving Strategies for information.

Who is responsible for legal expenses?

Giving Funds at WaterStone are responsible for any legal expenses incurred on behalf of the fund.

What pricing applies for the “deferred” Giving Fund?

Pricing for a “deferred” Giving Fund at WaterStone is assessed only upon funding. Funding typically occurs with the settlement of the estate-planned gifts. However, many givers discover that with current giving through their Giving Fund, they, too, may experience the joy of things they never imagined in their lifetimes.

How do I name my Giving Fund in an estate gift?

To name your WaterStone Giving Fund as the charitable beneficiary for a Will, Bequest, IRA, Insurance, Trust, etc. list as follows:

Charitable Beneficiary or Charitable Distributions:

The Christian Community Foundation, Inc. dba WaterStone, Tax ID # 75-1750059, for benefit of [Insert Name of WaterStone Giving Fund], [Insert Fund #].

What is the Federal Tax Identification number of WaterStone?

The Federal Tax Identification number is 75-1750059. Christian Community Foundation, Inc. dba WaterStone is the name of the legal entity.

How can I communicate with you?

Communication is easy. You may contact us by mail, phone, fax or email.

  • WaterStone
  • 10807 New Allegiance Drive, Suite 240
  • Colorado Springs, CO 80921
  • Voice: 719.447.4620 Fax: 719.447.4700
  • Email us