Frequently Asked Questions
Q
If I make a donation, is it tax deductible?
A
Absolutely. The Community Fund of Lake Forest is a registered 501(c)(3) charitable organization.
Q
How are the donations invested?
A
There will be an Investment Committee of qualified individuals from the community. This committee
will make recommendations to the Board. No member of the Investment Committee will benefit
financially from the decisions of the committee.
Q
Once I make a contribution, will I be solicited annually or expected to donate in the future?
A
Because CFLF operates as an endowment, your gift will support Lake Forest’s qualified organizations
for many years to come via its structure of donating investment returns annually. That said, the Fund
will work diligently to grow its principle to allow grant levels to increase and more broadly support its
mission
Q
How will the Fund be managed if it gets very large?
A
At some point we would consider adding an Executive Director, but the spirit of the Fund will always
look to volunteerism for its support.
Q
Why should I make a contribution to the Community Fund of Lake Forest instead of directly supporting the causes I’ve supported for many years.
A
The key benefit of CFLF is that it makes grants to a broad range of community charities that the donor may not know or have the time to review. The Grants Committee regularly vets all Lake Forest charities and works to ensure that the funds are distributed broadly and in accordance with our charter. That said, the Fund is not intended to compete with other causes and would never discourage any direct contributions.