About the CFMC – Did You Know?
In this blog we address frequently asked questions and misconceptions about the Community Foundation for Monterey County (CFMC). Do you have a question? Give us a call at 831.375.9712 or email us and we’ll add it to the list!
You don’t have to be wealthy to partner with the CFMC.
The CFMC seeks to make philanthropy accessible to everyone. Donors can make gifts of all sizes to any fund. A donor advised fund can be created with a gift of $5,000. You can also donate in any amount through the annual Monterey County Gives! campaign that benefits more than 160 nonprofits.
You can grant anywhere.
Though the majority of grants (90%) are to nonprofits serving Monterey County, donor advised fund holders can recommend grants to any qualified 501(c)3 nonprofit in any state, and even internationally. The CFMC philanthropic services team conducts due diligence on grantees and can partner with other community foundations throughout the country.
Funds can be endowed or non-endowed.
Donors can choose whether their fund is non-endowed (able to grant the full amount each year) or endowed (the principal is invested and the fund grants a percentage in perpetuity). Almost all new donor advised funds are non-endowed.
Grantmaking is our top priority.
Grantmaking creates impact. Impact inspires giving. Giving creates more grantmaking. We inspire philanthropy to grow grantmaking. This strengthens our communities.
We partner with our donors.
The CFMC works with our donor advisors to maximize the effectiveness of their giving. We share grant opportunities for co-investment and host donor education events throughout the year.
We can assist nonprofits with complex gifts.
In some cases, nonprofits don’t wish to accept complex assets. The CFMC can accept gifts of complex assets. We can establish vehicles such as Charitable Gift Annuities or Charitable Remainder Trusts to benefit specific nonprofit(s) or fields of interest that donors select.
Nonprofits can create funds to take advantage of the CFMC’s investment expertise.
More than 70 nonprofits have created funds to take advantage of the CFMC’s investment expertise. Funds are invested as part of the CFMC’s $220 million portfolio. Agencies benefit from low fees, investment diversification and reduced administrative burden. Agencies with stewardship funds can retrieve assets any time with a vote of their board of directors.
We strengthen nonprofits beyond grantmaking.
The Center for Nonprofit Excellence of the CFMC provides consulting, networking, professional development and resources to help nonprofits fulfill their mission.
We are not a county agency.
Though the CFMC has “Monterey County” in its name, it is an independent 501(c)3 nonprofit. We are one of nearly 800 community foundations nationwide.
We are “Here for Good.”
Our funds are established by individuals, families and businesses who partner with us in their lifetime or through their estates to benefit a wide variety of causes. The CFMC is also a community leader engaging around affordable housing, homelessness and other important issues to help improve the quality of life in Monterey County.