Frequently Asked Questions
We understand that community foundation lingo can sometimes be confusing. In an effort to help, we are pleased to present answers to the following frequently asked questions.
If your question is not answered below, please contact our friendly staff at (405) 488-1450.
What is a community foundation?
A community foundation is a collection of individual funds and resources given by local citizens and businesses to enhance and support the quality of life in their community.
What does a community foundation do?
A community foundation professionally manages and distributes charitable gifts and bequests in a manner consistent with the donor’s interests.
Why should I use Communities Foundation of Oklahoma?
Our donors and fund holders have a strong sense of community and personal commitment to making a significant contribution back to their community. They are given the ability to easily support causes important to them while investing their donation for the long-term. In addition, donors can receive excellent tax advantages while gaining the security of accountability for how their money is used.
I'm not wealthy so why should I think about giving a small amount through Communities Foundation of Oklahoma?
We offer a way for everyone, no matter their financial wealth, to give back to their community.
What are my fund options? How do I set up a fund?
Our team is happy to answer questions or visit with you and/or your organization’s board to further discuss your options. Please contact our office at (405)488-1450.
What services do I receive as a donor and is there a fee for this?
Communities Foundation of Oklahoma provides the IRS reporting, fund accounting, investment management, and grant distributions. CFO also follows the due diligence process for you and helps assure all grant and scholarship recipients meet proper IRS criteria. You will receive quarterly financial and investment reports and will be notified of any grant opportunities. Each type of fund has a different fee structure ranging from 1 percent to 5 percent.
Communities Foundation of Oklahoma
P.O. BOX 21210
OKLAHOMA CITY, OK 73156