Valley Falls Community Foundation

Benefits of Affiliation with GMCF

Being an affiliate and component fund of the Greater Manhattan Community Foundation offers numerous benefits and advantages that balance local control with professional staff management services and support and strategic development and policy advantages. 

Nonprofit Status

Both GMCF and VFCF are 501(c)(3) tax-exempt charitable organizations, which enables GMCF, VFCF and the other GMCF affiliated funds to receive tax-deductible contributions.  GMCF issues charitable receipts for donations made to both GMCF and to all of its affiliates which conform to applicable IRS standards. 

Local Control

Locally affiliate governing boards (including the Board of Directors of VFCF) and/or locally selected Fund Advisory Committee members make decisions daily about how affiliated fund charitable dollars are invested and spent. GMCF has ultimate legal responsibility for all funds entrusted with it to ensure that funds are used consistent with provisions of IRC Code Section 501(c)(3) and applicable IRS Regulations and in compliance with donor intent.  Likewise, all local community foundations have the same legal obligations and responsibilities. 

Financial and Administrative Services

Affiliated component funds of the Manhattan Foundation have access to GMCF's financial and administrative services and expertise. GMCF is vested with primary responsibility for all day-to-day financial and investment activities, including recording donor contributions; making disbursements; issuing receipts; providing for cash management; preparing and filing IRS Form 990; obtaining an outside, independent audit of its financial statements (inclusive of audits of VFCF and other affiliate component funds of GMCF) by an independent CPA firm and issuing the financial reports for the Manhattan Foundation and its affiliates and component funds (including VFCF). Affiliated funds with both endowed assets and expendable donor funds can invest in one of five investment portfolios designed for nonprofits and charitable funds and offered and managed by GMCF's investment manager and advisor, The Trust Company of Manhattan. 

National Standards

GMCF (inclusive of its affiliate component funds) has received recognition for having organizational and financial practices that are in compliance with National Standards established by the Council on Foundations. This demonstrates GMCF's integrity and accountability to donors, as well as the integrity and accountability to donors of VFCF and the other GMCF affiliate component funds. 

Peer Learning Network

GMCF and its affiliates use and apply peer learning techniques to assist in continuing their efforts to build community involvement and leadership. GMCF also facilitates multiple peer-learning opportunities on many relevant topics whenever possible in its efforts to assist and help its affiliated fund leaders. GMCF accomplishes these objectives by offering and participating in programs specifically designed to increase the confidence and skills of these individuals. 

Contributions to Multiple Funds

The Manhattan Foundation and its affiliates are contributing to the evolution of charitable giving habits and programs in various communities to support services, causes and programs that are intended to have greater impact upon the long-term sustainability of communities. These educational efforts are helping many donors to evaluate the multiple causes they can choose to support with their current and planned gifts. 

Marketing, Communications and Web site

GMCF makes its marketing materials available to both its affiliated funds and to other community foundation funds at minimal or no charge. Sample or customized media relations materials, donor letters and financial planner communications are among the materials that can be provided. The Manhattan Foundation also maintains an extensive Web site, as do many of its affiliates, which provide information to the public, to GMCF affiliated funds and other funds, to potential donors and to financial planners. The ability to accept online donations is also provided by the Manhattan Foundation. 

Training and Technical Assistance

Various staff members at GMCF have extensive backgrounds, knowledge and recognized expertise in community development, strategic planning, planned giving and the development of public-private partnerships, all of which is shared on an on-going basis with other communities and community foundations who request information in these areas.  Manhattan Foundation staff and its Governing Board Members are also available to help affiliates and other funds get organized, provide guidance for strategic planning and advise on effective fundraising techniques. Workshops on topics ranging from leadership development to donor visitation techniques are held statewide. 

Gift Planning Assistance

The Manhattan Foundation and its affiliates, including VFCF, provide assistance and ideas for gift-giving to attorneys, CPAs, insurance agents, financial planners, bankers and brokers and their clients/donors in instances where they are providing charitable gift planning services. Brochures and materials on the benefits of charitable giving are available to these various service providers and the public generally at no charge. 

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