The Community Foundation of Frederick County is one of more than 800 independently operating community foundations across the country. Each community foundation is unique in how it operates and how it serves its local community. Learn more as we debunk 10 myths about The Community Foundation of Frederick County .
Myth #10: The Community Foundation digs foundations.
Can you imagine that we are really digging foundations at Everedy Square?
Fact: The Community Foundation is a 501c3 nonprofit organization dedicated to connecting people who care with causes that matter. We tailor philanthropic dreams into charitable funds that award grants and scholarships throughout Frederick County.
Myth #9: The Community Foundation is a bank.
We are not a bank.
Fact: You don’t make a deposit….you make a gift.
Myth #8: The Community Foundation invests in its very own special stock market that only goes up!
What planet is THAT stock market on?
Fact: The Community Foundation invests in the same stock market as everyone else and carefully monitors its investments, striving for steady, long-term growth.
Myth #7: The Community Foundation is only for the rich.
You don’t have to be a millionaire to start a fund with the Community Foundation.
Fact: Funds start at $25,000 and are structured according to Community Foundation policies and donor intent. Additionally, gifts of any amount can be made to existing funds or to support a specific cause.
Myth #6: Only cash can be used to start a fund.
The Community Foundation accepts more than gifts of cash.
Fact: The Community Foundation also accepts stocks, bonds, real estate, cryptocurrency, and other real property. However, these items must be able to be sold eventually so that the proceeds are invested with the other gifts in the fund.
Myth #5: The Community Foundation is a division of Frederick County government.
The Community Foundation is a NOT division of Frederick County government.
Fact: The Community Foundation is a 501c3 nonprofit organization – a public charity with 24 volunteers serving on the Board of Trustees.
Myth #4: The Community Foundation skims 15% off of every donation to pay for administration.
Fact: Every contribution is placed in its entirety into the fund, according to the donors’ instructions.
Myth #3: The Community Foundation’s distribution policy is 1% and its management fee is 5%.
Fact: The Community Foundation’s distribution policy is 5% and our management fee is between 1-2%, depending on the type of fund.
Myth #2: The Community Foundation only covers Frederick City, not Frederick County.
It’s in the name!
For Good. Forever. For Frederick County.
Myth #1: Donors must have their tax returns prepared by Don Linton.
Don Linton, Jerry Offutt and Charlie Main founded the Community Foundation in 1986.
Fact: Clients can use their own professional advisors for financial and legal advice.