FAQ
What can I access online?
You have full access to your fund through an Online Fund View portal and can review:
- Giving Fund balance
- Statements
- Contribution activity; print receipts
- Grant history
- Recommend grants
How do I make a gift (contribution) to my fund?
- Check*
- Credit Card
- Electronic Check
- ACH / Wire
*Make checks payable to “WaterStone” referencing your fund number on the memo line and mail to 10807 New Allegiance Drive, Suite 240, Colorado Springs, CO 80921.
How do I make a gift of marketable securities?
Contact Giving Strategies at [email protected] for transfer instructions.
Do you accept gifts of real estate, business interests, stock, or other non-traditional assets?
When do I receive a contribution receipt?
What is the grant (distribution) process?
Which charities qualify for grant distributions?
You may give to any charity that is an IRS registered, tax-exempt 501(c)3 whose mission statement does not conflict with WaterStone’s Statement of Faith.
The IRS specifically disallows charitable distributions that:
- Provide private benefit to the giver or a related individual;
- Pay dues or membership fees;
- Purchase tickets to a charitable event or benefits, 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.
May I recommend grants from my Giving Fund for foreign organizations or to organizations that do not have their tax-exempt status?
How will the assets of my Giving Fund be invested?
- Funds held in cash with WaterStone will earn an indexed money-market return.
- Funds with a maintained balance of $25,000 or above have the option of participating in one of WaterStone’s investment pools.
- Funds retaining $200,000 or greater may recommend an approved outside investment advisor.
What kind of pricing and fees can I expect?
- Our pricing schedule is tailored to each fund and the level of giving. Please contact us for more information.
- Deferred funds do not incur fees until activated through funding.
How do I name my Giving Fund in an estate gift or will?
To name your WaterStone Giving Fund as the charitable beneficiary for a Will, Bequest, IRA, Insurance, or Trust, list as follows:
The Christian Community Foundation Inc. dba WaterStone, Tax ID # 75-1750059, for benefit of (Name of WaterStone Giving Fund), (Fund #).
*Do not include specific charities in your estate documents as these will be listed in your Giving Fund Purpose and can be updated at any time.
Private Foundation vs. Giving Fund
In recent years, private foundations have come under increasing scrutiny by Congress and the Internal Revenue Service due to recent abuses and questionable practices. Giving Funds are a very attractive alternative since they avoid the administrative responsibilities and provide many other benefits. Converting private foundations into Giving Funds is a growing trend in the nonprofit arena. Learn more about Private Foundations vs. Giving Funds here.
Public Access
A WaterStone Giving Fund operates similar to a private foundation but with added flexibility and maintaining the highest level of confidentiality and respect for your privacy. Depending upon your objectives, you may simply enhance your family foundation with the addition of a Giving Fund or completely dissolve your family foundation into a Giving Fund. WaterStone has the experience to assist you with either approach.
IRS compliance
The IRS requires all foundations to file an annual tax return. With a Private foundation, this burden falls on you. A WaterStone Giving Fund simplifies this process because we handle the administrative and fiduciary responsibilities for you.
Do I need an attorney to establish a Charitable Pooled Trust (CPT) and what is the minimum contribution amount to open the fund?
- The CPT is simple to establish and no attorney is needed
- The initial contribution minimum is $50,000
How/why does the CPT offer an unprecedented charitable deduction?
A CPT that has been open for three years or less qualifies as a “young fund” which is eligible to use the yearly applicable federal rate (AFR) in calculating the charitable tax deduction; because of the low applicable rate the tax deduction is usually quite significant.
What Charitable Remainder Trust does WaterStone provide?
What is the minimum amount to establish a WaterStone trust?
A Charitable Remainder Trust is recommended for initial contributions over $250,000.
What are the best assets for setting up a Charitable Trust?
How do I set up a trust?
Does my trust need a trustee?
Yes, a trust requires a trustee. WaterStone can serve as the trustee or the trust creator can serve as his/her own trustee.
Additonal Questions?
Please don’t hesitate to give us a call or send us an email.
