Frequently Asked Questions
How does the Chosen Valley Community Foundation achieve its vision?
The Chosen Valley Community Foundation is a not for profit corporation that offers donors an opportunity to realize their philanthropic vision directed toward the Chosen Valley. Their vision is realized by grants awarded to organizations and individuals within the community resulting in a shared effort to benefit the place we live.
How do we do this?
The CVCF is a not for profit corporation made up of community volunteers who work with donors to identify their funding goals, provide stewardship of the funds, and select appropriate recipients for the awards.
What does this mean for donors?
The Chosen Valley Community Foundation is a Minnesota non-profit corporation recognized as a 501(c)3 tax-exempt organization by the IRS. This means that donors are eligible to donate gifts like cash, stock, property and the like, tax-free, and use those gifts to fund grants. It means that you have an opportunity to participate in an ongoing concern carrying your good name with it well into the future.
Where do donated funds go?
The Chosen Valley Community Foundation affiliates with the Rochester Area Foundation to allow us to use their professional fund management services. The CVCF continually maintains jurisdiction of the money.
What area do we serve?
The Chosen Valley Community Foundation serves the area designated by the Chatfield School District. Thus, we are a Foundation for the betterment of Chatfield and the surrounding community.
What does this mean for those living in this area?
It means that donors through the Foundation can play a major part in improving the quality of life in an already wonderful place to live and work. It means that benefactors have a way to direct their charitable contributions back to the community. It means that the Chatfield area can benefit from the generosity of its benefactors and continue to make this a great place to live and work. Finally, it means that Chatfield can keep area assets working for Chatfield’s benefit.
What are the options for donors?
As a Minnesota non-profit corporation recognized as a 501(c)3 tax-exempt organization we must limit the funds toward charitable concerns such as arts, culture, environment, health and human services, community improvement, public safety, education, and youth development. Through asset growth and development, the Foundation builds and maintains funds to provide a perpetual source of income. Donors have the opportunity to place their funds in any of these areas:
- Permanent Fund, where the capital from the contributions to this fund is never withdrawn. Grants offered through this fund are supported only by the income from the capital.
- The Consensus Fund, where the reserves are available for immediate grants. A portion of the reserves may be held for future growth; however, at the consensus of the Foundation’s board, all available funds may be used.
- Designated Fund, where donors have the opportunity to designate where their contributions are used. Donors may choose to fund specific areas of interest such as scholarships, culture, health care, civic improvement or support, or youth or the arts. Donors may also choose to provide another organization with a perpetual stream of income far into the future.
What does this mean for grant recipients?
It means that qualifying organizations can apply for and receive grants from the Foundation using a portion of the profits from this endowment to advance worthy projects and concerns in our area.
How do we accomplish this?
Through asset growth and development, the Foundation builds and maintains funds to provide a perpetual source of income. Donors have the opportunity to place their funds in any of the areas of the Permanent Fund, the Consensus Fund, and the Designated Fund.
How do I get started?
Contact the Foundation or any board member. A representative from the organization will work with you and help you to meet your philanthropic goals.