IMPACTING AND PRESERVING THE FUTURE FOR ALL OF US Silicon Valley Community Foundation
LETTER FROM CEO Welcome to the new Silicon Valley Community Foundation Thanks to the commitment of people like you, Silicon Valley Community Foundation is creating opportunities and addressing the most important challenges facing our region and the world. The historic merger of Peninsula Community Foundation and Community Foundation Silicon Valley which created our community foundation provides a unique opportunity for you to make a lasting difference in the areas that you care about most. As an institution, the community foundation is the largest in California and manages more assets than nearly every other commercial gift fund or bank-managed fund in the United States. We manage more than 1,500 funds, ranging from $10,000 to $90 million. As a donor, you can count on us to deliver world-class service along with opportunities to grow your funds and maximize your philanthropic effectiveness. We are an ideal partner to assist you with achieving your philanthropic goals. We can provide you with maximum tax advantages from the simplest to the most complicated charitable gifts. You will have access to our expert grantmaking staff in assisting you with developing and implementing your philanthropic vision. You will have opportunities to share ideas and partner with like-minded donors who share your interests for improving our community. And, by managing your philanthropic activity through us, you help the community foundation support important projects throughout San Mateo and Santa Clara counties that strengthen our community. We represent more than 96 years of accumulated experience with a new mission to bring innovation and fresh approaches to both old and new challenges facing our community. We invite you to join with us. Sincerely, Emmett D. Carson, Ph.D. CEO and President
Our vision, mission and values reflect our commitment to serving the vibrant and diverse communities in San Mateo and Santa Clara counties. Vision, Mission and Values The vision of Silicon Valley Community Foundation is to be a comprehensive center for philanthropy that inspires greater civic participation throughout San Mateo and Santa Clara counties. The mission of Silicon Valley Community Foundation is to strengthen the common good, improve quality of life and address the most challenging problems. We do this through visionary community leadership, world-class donor services and effective grantmaking. We value: Collaboration Inclusiveness Integrity Respect Diversity Innovation Public Accountability Responsiveness To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org page 1
WHAT IS A COMMUNITY FOUNDATION? A community foundation is a tax-exempt institution dedicated to improving the quality of life and serving the residents of a specific region. There are nearly 700 community foundations in the United States and at least 470 community foundations in 41 other countries around the world. Community foundations are sustainable philanthropic institutions with long-term vision and leadership, providing grants that address a region s present needs as well as future challenges. They also enable donors to support charitable causes across the United States and around the world. Successful community foundations are known for their high degree of personalized service. Community foundation staff will actively engage with you and your professional advisor to design individual charitable giving plans that fit every situation. These plans are designed to give you the most tax advantages for your charitable contributions. Additionally, as part of the community foundation family, staff will provide continual personal assistance for your grantmaking and charitable giving needs. Community foundations fund grantmaking through various types of funds and an unrestricted endowment. Usually when a private citizen, family or corporation makes a gift to the community foundation, a fund is opened. Popular funds include donor advised funds and bequests. However, you can contribute various types of assets, including personal wealth, real estate and pre-ipo stock, and can choose from multiple fund options. Most funds allow you to directly advise a grant to a nonprofit that has special meaning to you, and you can also contribute to the endowment fund. A community foundation s endowment fund is a permanent charitable resource that grows through your support. It provides much-needed funding to local nonprofit organizations, and during times of disaster or emergency, acts as a savings account protecting and serving the needs of the region. page 2 To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org
OUR HISTORY Before Silicon Valley, our community was known as the Valley of the Heart s Delight. This wonderful region has long been a warm and welcoming land of opportunity where people achieve their dreams, both large and small. It is also a place where citizens of our community created long-term endowment funds and charitable institutions for the region s local benefit. The result was the establishment of Peninsula Community Foundation and Community Foundation Silicon Valley. More than 50 years later, a landmark merger established Silicon Valley Community Foundation as a new voice and catalyst for innovative solutions. The complementary strengths of both parent foundations offered an extraordinary opportunity for greater impact than either could realize alone. Silicon Valley Community Foundation is dedicated to providing world-class services to donors and nonprofits and inspiring even greater civic participation throughout the region. To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org page 3
WHY CHOOSE SILICON VALLEY COMMUNITY FOUNDATION? When it comes to charitable giving, we know you have many options. As the largest community foundation on the West Coast and one of the largest in the nation, we can help you receive the maximum tax advantage on your charitable gift and provide you with effective grantmaking tools. We can also partner with your professional advisor and easily transition your assets whether stock, real estate or personal wealth to meaningful community grants. Our business is helping people achieve their charitable goals locally, nationally and internationally, and making a long-lasting, positive impact on the community. At right is a chart comparing the benefits of our donor advised funds, one of our more popular giving vehicles, with common options available through financial institutions. Many other fund options are available for your review. page 4 To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org
Donor Advised Fund at Silicon Valley Community Foundation Commercial Gift Funds Private Foundation Donor Control Donor recommends grants to qualified nonprofits, and may choose from among the community foundation s investment options. Grants are approved by the community foundation s board of directors. Donor recommends grants to qualified nonprofits, and may choose from among the firm s investment options. Grants are approved by trustees of the gift fund. Donor appoints board, which controls investments and grantmaking. Tax Status Public charity as a fund under the community foundation s public charity status. Public charity as a fund under the nonprofit status of the firm s charitable subsidiary. Private charity as a separate 501(c)(3) organization under Section 509(a). Requires annual tax filings. Income Tax Deductions for Gifts of: Cash Up to 50% of adjusted gross income Up to 50% of adjusted gross income Up to 30% of adjusted gross income Stock Fair market value up to 30% of adjusted gross income Fair market value up to 30% of adjusted gross income Fair market value up to 20% of adjusted gross income Real Estate Fair market value up to 30% of adjusted gross income Fair market value up to 30% of adjusted gross income, if accepted by firm Cost basis up to 20% of adjusted gross income Philanthropic Services Professional staff is available to develop strategy, provide input on community needs, identify and assess grantees and verify nonprofit status. Donor education, family engagement and peer networking provided as desired. Varies by firm. Most do not offer personalized advice on grantee selection or family engagement. Board must arrange and support their own grantmaking, monitoring and administrative structures. International Grants Allowed Usually not allowed Allowed Distribution Requirements None Varies, typically 5% of average fund assets over five years. 5% of net assets annually, otherwise a 30% penalty tax. Privacy Donor may remain anonymous. Donor may remain anonymous. Officers, directors and trustees listed in IRS Form 990-PF. To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org page 5
THE BENEFITS OF CHOOSING SILICON VALLEY COMMUNITY FOUNDATION Financial tax advantages and strong investment returns are not the only reasons for choosing Silicon Valley Community Foundation. Opening a fund with the community foundation gives you access to world-class donor services, unmatched by any of our competitors. Here is a snapshot of what we offer to help make your giving experience simple and customized for your needs: Personal Service. Our expert staff has in-depth knowledge of the issues, opportunities and resources within our community. We offer a wide range of services to help make the most of your charitable giving. Superior Expertise. Our staff includes friendly, helpful individuals from diverse backgrounds and a wide range of professional experience, including attorneys, educators, investors and community activists. Donor Engagement. This department will provide you with a philanthropy manager who will connect you with like-minded donors through workshops and social events, inform you about issues and causes upon your request, and guide you through DonorConnect. DonorConnect. Our online portal enables you to recommend grants to charities, check fund balances, download fund statements and investment performance reports, review gift and grant history and make fund additions quickly and easily. Community Connections. These limited edition funding opportunities vetted by our program staff reflect immediate needs in our community. New grant proposals are posted quarterly for your review. Grants & Gifts Administration. As you advise grants, this department will take care of backend paperwork and processing, ensure that nonprofits receive grant checks and award letters in a timely manner, and provide you with statements to track your grantmaking. News and Updates. Our e-newsletter and magazine provides updates on the latest philanthropic news, including legislative changes that may affect your charitable giving. We also feature stories about how other community foundation philanthropists and nonprofits are making an extraordinary impact in our region and beyond. Educational and Networking Events. Throughout the year we hold special events, receptions and educational workshops exclusively for community foundation donors. Additionally, several of our popular giving circles offer their own networking and social events. page 6 To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org
SUPPORTING THE COMMUNITIES WE SERVE Making Home A Better Place Unlike financial institutions, the community foundation s vested interest is entirely in you and in this community we all share. Your support, through fees and partnerships, provides the community foundation with the resources be a voice at community meetings that sometimes stretch late into the night, to convene discussions with public officials about how to respond to a disaster, and to help caring nonprofits provide more effective services to those in need. Even if your philanthropic interests are across the country or around the world, by placing your fund at the community foundation, your fees help strengthen our local community in immeasurable ways. We share your commitment to this region whether your family has lived here for generations or you ve chosen to make it home and are uniquely qualified to help turn commitment into action and get the results you expect. To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org page 7
PROFILES IN PARTNERING WITH US Richard (Dick) Lavenstein Dick has always been very hands on with his charitable giving. A fundholder for more than 20 years, he created and actively oversees a field of interest fund. His fund focuses on improving and enriching the preschool through first grade experience for children and parents in low-income communities in San Mateo and Santa Clara counties. He recently completed his estate planning, ensuring that his passion and dedication to children and families will continue for years to come. I have an investment in the community, not just a charitable gift. My partnership with the community foundation has resulted in numerous benefits, he says. Over the years the community foundation has provided me with expert guidance from program staff and the validation and partnerships needed to continue my investment long after I m gone. page 8 To learn more about Silicon Valley Community Foundation, visit www.siliconvalleycf.org
PROFILES IN PARTNERING WITH US Lata Krishnan and Ajay Shah Lata and Ajay have partnered with the community foundation by opening a donor advised fund and a scholarship fund. To them though, the value of the community foundation goes beyond having more than one type of fund. They note that, For us, the community foundation has been a great source of information and inspiration. We are inspired by the access and opportunities to meet other individuals with similar mindsets and have benefited from the exposure to a wide breadth of charitable giving possibilities. Over the years, their charitable giving strategy has evolved, becoming more global in nature and open to collaboration. In 2001, Lata co-founded the American India Foundation, an international development organization charged with the mission of accelerating social and economic change in India. Ajay and Lata are committed to making a difference in the lives of marginalized individuals both in the Silicon Valley and India and are excited to partner with Silicon Valley Community Foundation in their specific focus of education.
mountain View 2440 West El Camino Real, Suite 300 Mountain View, California 94040 tel: 650.450.5400 fax: 650.450.5401 To read more about the Silicon Valley Community Foundation, visit: www.siliconvalleycf.org