What is the Huntington County Community Foundation (HCCF)?
HCCF is a public, tax-exempt 501(c)3 charitable organization that is built to be a funding hub for all charitable organizations and causes within Huntington County. We accomplish this through building and growing endowment funds.
What is an endowment fund?
An endowment fund is a collection of donations with the same unified purpose. The principal of the donations is never distributed and will remain in the fund forever. Annual monetary distributions come only from the earnings on the investment of the donations. Our current distribution percentage is 4% of the fund value at the end of the previous year.
How are the funds invested?
Our funds are managed by financial advisors who work closely with an investment advisory firm to properly diversify our investment portfolio. This double layer approach helps us mitigate the risk and maximize the growth of our endowment funds.
Why would I give to HCCF when I could give directly to a local charity?
Our job at HCCF is not to be in competition with local charities for your donations. Local charities certainly need our donations to stay financially viable and provide their valuable services to our community. We simply offer an alternative funding source. By distributing a percentage of our endowment funds annually, we help ease the pressure of yearly fundraising for our local charities and increase their overall sustainability.
Is there a minimum donation amount?
There is no minimum donation amount for any of our existing funds which are detailed in the back of this report (we have over 100 different funds). However, if you would like to start your own endowment fund, we ask for a minimum of $5,000 for an endowment fund and $10,000 for a scholarship fund.
Are there different types of endowment funds?
Yes. Scholarship funds help Huntington County residents further their education after graduating high school. Designated funds are specific to one purpose such as operational support of a specific local charitable organization. Field of interest funds are specific to one cause such as education or the arts and are allocated in the form of grants for projects that meet the specified cause. Donor advised funds have the unique ability of allowing the donor to have an ongoing say in the distributions of their fund. Unrestricted funds, also known as our Community Impact funds, are used to award grants to Huntington County charitable organizations.
How does HCCF cover its own operating expenses?
HCCF administers an annual fee for endowments of 1% for the fund’s first $250,000, 1/4% for the fund’s second $250,000, and no fee for the fund’s value over $500,000. Our fees are lower than a majority of community foundations. Revenue from fees and an annual distribution from the HCCF Board of Directors Operating Endowment Fund help cover HCCF operational expenses.
How does HCCF operate?
Two paid employees, an Executive Director and a Director of Accounting, manage the day-to-day operations. Community volunteers donate their time and talents to serve on the HCCF Board of Directors, providing oversight of the administration and investments and serving on various foundation committees.