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.
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.
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.
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.
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.
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.
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.
Every gift to WaterStone will receive a tax-deductible receipt, usually within two weeks of the receipt of the gift in our office.
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.
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.
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.
Grants may be recommended for 501(c)(3) nonprofit organizations and churches that are approved by our Board of Directors.
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:
WaterStone retains the ultimate right to determine approval or disapproval for distribution.
All grant checks include a notification stating your preference for the gift, the Giving Fund name, and your name and address.
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.
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.
Investment options are dependent on the total assets available in your Giving Fund.
Contact Giving Strategies for information.
Giving Funds at WaterStone are responsible for any legal expenses incurred on behalf of the 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.
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 #].
The Federal Tax Identification number is 75-1750059. Christian Community Foundation, Inc. dba WaterStone is the name of the legal entity.