Frequently Asked Questions
For Fund Advisors
Who should I contact if I have questions?
Please contact the Gift Planning and Donor Relations Department at 216-861-3810 or toll-free 877-554-5054.
What are the Goff and Legacy societies?
These are Cleveland Foundation recognition societies. Membership in The Frederick Harris Goff Society is available to donors who have contributed gifts of $10,000 or more. The Legacy Society recognizes donors who have made a planned gift or commitment in the form of bequests, trusts, life insurance, charitable gift annuities or through other provisions in their estate plans for a future gift to the Cleveland Foundation.
Is there a fee or cost associated with joining the Goff or Legacy societies?
No fees or costs are associated with joining the Goff Society.
Can I make additional gifts to my fund?
You can make additional gifts, outright or planned, to the fund at any time.
Can I include the fund in my estate plans?
Certainly. We would be happy to discuss how you can include the foundation in your estate plans.
Are there fees assessed against the fund?
Yes. Each fund will be charged an administrative fee and investment fee.
What is the difference between appreciation and investment income?
Appreciation is comprised of realized and unrealized gains due to changes in market value of the assets in which your fund is invested. Investment income includes dividends and interest income from assets in which your fund is invested.
What is the spending policy?
The foundation currently recommends an annual spending policy of 6% of the fund’s market value as of December 31st.
When can I begin to recommend grants?
You can recommend grants once your fund reaches $10,000. We ask that you recommend grants of $250 or more.
How do I recommend grants?
As a donor advisor, you can recommend grants to support any 501(c)(3) organization or verified charitable entity (e.g., schools, religious institutions). While you retain advisory privileges for the fund, the final determination on grantmaking rests with the foundation’s board of directors as required under the Internal Revenue Code.
You may recommend grants as frequently as you wish; however, we request that each grant be made for a minimum amount of $250.
Grant recommendations may be submitted using a Grant Recommendation Form or by accessing your fund through MyTCF.
Can I recommend grants outside of Greater Cleveland?
Yes, you can recommend grants to recognized charitable organizations throughout the United States.
Can I make international grants?
Grants can only be made to United States-based, tax-exempt organizations. Many international organizations have U.S. affiliates to which you may be able to recommend a grant distribution.
Can I recommend a grant to a Cleveland Foundation initiative?
Yes, donor-advised grants to support Cleveland Foundation initiatives are permitted. Descriptions of some Cleveland Foundation initiatives can be found elsewhere on the Foundation’s web site.
Can I include my children or spouse in grantmaking?
We encourage families to discuss their charitable interests together. However, only the donor or the donor advisor indicated in the fund agreement can officially make a grant recommendation.
How can the Foundation help identify nonprofits that I can support?
Your staff contact person is eager to serve as a resource for any questions you may have regarding priority community needs and/or nonprofit organizations in the region. We can provide you with suggestions of nonprofit organizations and/or projects that match your interests.
Are there limits to the grant I can recommend?
As a donor, you are prohibited from receiving a personal benefit from a grant that you have suggested. Federal laws impose penalties on the person making a disallowed grant recommendation or receiving the benefit from a grant, and on the Foundation. Examples of personal benefits include:
- Receipt of tickets for an event
- A table at an event (unless purchased and donated back to the nonprofit)
- Memberships
- Greens fees for a charity golf tournament
- Satisfaction of a personal pledge of the donor
What is Donor Connections?
Donor Connections is a quarterly publication that highlights local nonprofit organizations and their current needs.
What are “Donor Conversations?”
Donor Conversations are periodic information briefings offered to donors on topics related to philanthropy and community needs.
What is Giving Voice?
Giving Voice is a quarterly publication for our donors that includes articles on philanthropy, tax and financial information, Cleveland Foundation initiatives, and community leadership.
For Our Endowment Partners
Who should I contact if I have questions?
Please contact the Gift Planning and Donor Relations Department at 216-861-3810 or toll-free 877-554-5054.
What is the benefit of having an endowment fund at The Cleveland Foundation?
Benefits of an endowment fund include administrative and investment oversight as well as access to planned giving support.
Can additional gifts be made to the fund?
Additional gifts, outright or planned, can be made to the fund at any time. If your supporters are interested, they can make online contributions to the fund.
Can donors include the fund in their estate plans?
We’d be happy to discuss how your donors can include the endowment in their estate plans.
Are fees assessed against the fund?
Yes. Endowment funds are charged an administrative fee and investment fee.
What is the spending policy?
The Foundation currently recommends an annual spending policy of 6% of the fund’s market value as of December 31st.
How can my organization request a distribution?
Complete and submit the distribution authorization form.
Are there educational services or workshops available to my organization?
Representatives from your organization will be invited to participate in educational seminars designed to complement your endowment and planned giving expertise. In addition to the seminars, you will also receive Foundation newsletters.