General | Donor Accounts | Discretionary Grant-Making Programs | Contributions | Investments | Administration | Philanthropic Services | Tax Advantages | Planned Giving | Southwest Iowa | Scholarships

General

Q: How many donors does OCF have?

A: The Omaha Community Foundation currently has over 950 donors. This, of course, continuously changes with the addition of new donors and fund accounts.

Q: What are the differences among the accounts?

A: Each of the Foundation's accounts differs in the way it serves donors. The Foundation's professionals will be happy to help you choose an account that works best for you, depending on your needs. All of our accounts are designed to assist individuals with their philanthropic giving, allowing them to support the organizations about which they care the most, while maximizing tax benefits and simplifying the administrative duties of giving back.

Q: Do all accounts have to be endowed or permanent?

A: No. Some of our accounts are designed to operate as endowments so they will last into perpetuity. However, it is your choice, as a donor, what type of account you choose to use.

Donor Accounts

Q: Can I direct or advise distributions from my account to charities outside the greater Omaha area?

A: Yes. While our focus is predominantly greater Omaha, southeast Nebraska and southwest Iowa, you may advise grants to any publicly qualified charity nationwide.

Q: Once I deposit my money with the OCF, do I still have a say in where the gifts go?

A: Yes, you may continue your involvement in suggesting uses for funds in the account(s) you establish over time.

Q: How often can I recommend distributions from my account?

A: As often as you like. Charitable Checkbook grants are processed on Tuesdays and Thursdays; Donor Advised grants are processed on Thursdays.

Q: Is there a minimum grant amount?

A: Yes--$100.00.

Q: Can I suggest a grant online?

A: Yes. Once your account has been established, you will be issued a user name and password that you will use to advise grant distributions online, through MyOCF. MyOCF also allows you to view your account online (with updates made daily, Monday through Friday) and customize your philanthropic interests.

Q: Can I suggest grants from my account to be made anonymously?

A: Yes.

Q: Do I get a checkbook from which to write checks when opening a Charitable Checkbook?

A: No. You inform us through the website, by phone, or by fax where you would like funds from your account(s) to be distributed. We process the check(s) and send a letter to each recipient agency, indicating the grant was from you. You will receive a copy of the letter.

Q: Can I transfer funds from my Charitable Checkbook to a Donor Advised Fund, or vice versa?

A: Yes and no. You can transfer funds from a Charitable Checkbook to a Donor Advised Fund, but not from a Donor Advised Fund to a Charitable Checkbook.

Q: If there is a balance remaining in my account when I die, do I have to leave the undistributed funds at the OCF?

A: Charitable Checkbook donors have the opportunity to choose one of three disposition options. Two options are OCF funds; the third option is to create a Donor Advised Fund at the OCF that can name successor advisors or a permanent fund that benefits charities of your choosing.

Q: What is the minimum amount required to open a Charitable Checkbook? Donor Advised Fund? Supporting Organization?

A: $1,000 for a Charitable Checkbook; $25,000 for a Donor Advised Fund; $1 million for a Supporting Organization. If you are donating $1,000, or more, per year to charity, you are a great candidate for an OCF account.

Q: Am I required to keep a minimum balance in my account?

A: No.

Q: How often will I receive statements?

A: You will receive a statement detailing your fund account each quarter. By signing up for online access, you can also view your account at any time.

Discretionary Grant-Making Programs

Q: What is the Fund for Omaha?

A: The Fund for Omaha is the OCF's primary discretionary grant-making fund. A 15-person committee, made up of eight OCF directors and seven community representatives, reviews grant requests from area nonprofits operating in Douglas, Sarpy and Pottawattamie counties. Grants are awarded in both the spring and fall. For more information, contact the Director of Philanthropic Services.

Q: Where can I find out about grant programs available through the Foundation?

A: There are two main ways grants are made through the Omaha Community Foundation. The first is at the direction or advice of a donor. Donors who have accounts at the Omaha Community Foundation can direct or advise where they want grants to be made. This is an individual decision and depends on the interests of the donor. The second way is through the Foundation's discretionary grant-making programs. For more information, go to Grants and Scholarships, and there will be a drop-down list of available grant programs from which to choose.

Contributions

Q: Is it better to donate cash or appreciated assets?

A: It is usually more tax-efficient to donate an asset that has appreciated in value. In so doing, you can avoid having to pay capital gains tax on the appreciation, and you can usually deduct the full market value of the asset.

Investments

Q: How are funds invested?

A: They are invested according to investment strategies recommended by the Finance Committee of the Board of Directors. This committee meets quarterly to review investment results. For Donor Advised Funds of $50,000 or more, you may make recommendations from a selection of alternative investments, if you choose.

Q: How much does the Foundation manage?

A: The Omaha Community Foundation currently has $415 million in assets. Again, this number is fluid and continuously changing with the addition of new donors and fund accounts, as well as the number of grants made each year.

Administration

Q: How does the OCF get its funding?

A: The OCF has two primary sources of revenue. It retains earnings from the investments of Charitable Checkbook balances and generates revenue from the administrative fees charged on Donor Advised Funds, Supporting Organizations and other component funds.

Philanthropic Services

Q: What does philanthropic services mean?

A: Philanthropic services include anything that helps donors achieve their charitable goals. They might include:

• Developing philanthropic mission statements and strategic giving plans
• Evaluating a nonprofit agency; researching a particular issue
• Performing a needs assessment
• Providing administrative services for your family or corporate foundation
• Facilitating and/or recording minutes of family or corporate giving committee meetings
• Overseeing a grants program that meets a donor's charitable goals
• Training for grant committee members in assessing requests
• Sharing, upon a donor's request, one or more of the 200+ grant applications that come through the OCF each year on a variety of nonprofit categories
• Assisting with program evaluation
• Researching the eligibility of organizations to accept charitable donations
• Arranging for site visits
• Hosting educational forums
• Equipping donors with the tools to achieve maximum satisfaction from their relationship with the Omaha Community Foundation.

Tax Advantages

Q: Is my donation to the OCF fully deductible?

A: Yes. The OCF is a 501(c)(3) organization and, for tax purposes, donations are treated the same as gifts to any other qualified charity.

Planned Giving

Q: Is it possible to make a deferred gift to the OCF?

A: Yes. There are many deferred gift options, including gift annuities, charitable remainder trusts, lead trusts, and bequests. Contact us for more information.

Southwest Iowa

Q: Where can I find out about grant opportunities in southwest Iowa?

A: For more information, visit the Southwest Iowa section and then click on the county in which you are interested. Information regarding grants is posted 45 days prior to the granting cycle.

Scholarships

Q: Where can I find out about scholarship opportunities?

A: Go to Scholarships in the Grants and Scholarships section of this site.