What is the mission and function of the Piedmont Community Foundation?
Our Mission is to facilitate and act as a catalyst, conduit and steward for charitable giving in meeting the ever-changing needs of the community in northern Virginia, focusing on Loudoun and Fauquier Counties; functioning as a positive and creative force to join donors and community in a collective power dedicated to the growth of a permanent endowment as the most effective means to meet the needs of the community now and in the future”.

Functions: The Piedmont Community Foundation seeks to build and manage a collection of distinct charitable funds in partnership and established by local individuals, families, corporations, and nonprofit organizations. Funds are pooled and invested for distribution to charities in our community. Some funds have grant-making that is advised by the establishing donors while others are part of a competitive community grant program.

Why would I contribute to a community foundation rather than starting my own private foundation?
Setting up a private foundation can be expensive and time consuming. Significant rules and regulations apply to all private foundations and the tax deduction is limited to thirty percent (30%) of adjusted gross income as opposed to fifty percent (50%) for gifts made to public charities such as the Piedmont Community Foundation. View a comparison overview of PCF and Private Foundations

Why would I contribute to a community foundation rather than donating directly to the charity of my choice?
A community foundation allows many donors to assist their charitable causes, through gifts and bequests, to establish family legacies via permanent endowment funds, with ease and minimal cost in one large foundation.

Who supervises the investments?
The Investment Committee is responsible for the investment of the PCF trust or fund that is, and the aggregate of the unrestricted trusts or funds that are, a component part of the Piedmont Community Foundation. An Investment Policy guides all Foundation investment actions. A copy of the Investment Policy, and who serves on the current Investment Committee is available upon request. At this time there are no outside investment managers. The portfolio composite of mutual funds does not charge a separate management fee; each fund within the portfolio has its own internal fees and expenses listed in the fund’s prospectus, which can be disclosed upon request.

What type of gifts does the community foundation accept? Is there a minimum gift accepted?
The Piedmont Community Foundation is able to accept a wide range of gifts, including cash, stock, real estate. A Gift Acceptance policy guides all gift transactions. There are no minimums on gifts if given to existing funds, including the Community Fund (the endowment for community competitive grants) and the General Fund (the unrestricted fund for operating and general purposes). If you wish to set up your own distinct fund there are minimums: once established, additional gifts can be made in any amount at anytime. Individual or family funds require a $10,000 opening gift. Corporate or Agency funds require a $20,000 to $30,000 opening gift depending on donor requirements.

What types of fund options are offered?
There are 6 fund types, that can be customized per donor need, click for details.
Designated Fund
Field-of-interest Fund
Donor-advised Fund
Agency Fund
Unrestricted Fund
Restricted Fund

If we have been unable to answer your question here, please contact our office or send us e-mail with your specific question.
540-687-5223 • kkrei@verizon.net

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