Donors

Recent News

WCF Welcomes Rebecca Putter
The Board of Advisors of the Westchester Community Foundation (WCF) announce Rebecca Kraley Putter was appointed program officer at the Westchester Community Foundation in December 2011. Her responsibilities include developing and implementing strategic grantmaking in the areas of the arts, academic opportunity, strong nonprofits, and the Westchester Fund for Women and Girls. 

Prior to joining the Foundation, Ms. Putter served as a consultant to regional community foundations and nonprofit organizations; a grantmaker at The Columbus Foundation in Columbus, Ohio; a development consultant for a government agency in the West Indies; and an associate at the Carnegie Council for Ethics in International Affairs in New York, New York. She has been an active volunteer with a number of nonprofit organizations, most recently Habitat for Humanity and the American Red Cross. She holds a bachelor’s degree in political science from Vassar College and a master’s certificate in international security from Stanford University.

“We are so pleased to welcome Rebecca to our staff,” said Catherine Marsh, Executive Director of the Westchester Community Foundation, “Her combination of talents, along with her background addressing community challenges, bring a unique perspective to our work as a community foundation.”

“I am thrilled to accept this position as program officer” said Ms. Putter, in accepting the appointment, “and look forward to bringing my experience in the nonprofit, government, and community foundation world to the Westchester Community Foundation where I join a group of skilled professionals dedicated to strengthening our community through charitable giving.”
 
"Community Matters" Film 3
307285_10150348690280966_131314930965_8342751_258809645_nWestchester Community Foundation is sponsoring a 2011-2012 film series dedicated to generating discussion around topics that affect us locally, including health, environment, education, housing, and energy. The third film in this series was "Mothers of Bedford" which was shown on Tuesday, November 15 at Jacob Burns Film Center.  This film offered a look into the minds and hearts of the women inmates of New York’s Bedford Hills Correctional Facility. 
 
Film Series "Community Matters"
Westchester Community Foundation is sponsoring a film series dedicated to generating discussion around topics that affect us locally, including health, environment, education, housing, and energy. The second film in this series was Wretches & Jaberers, scheduled for Wednesday, September 21.  This film debunks the myth that autistic individuals do not have feelings, cannot communicate, and have low intelligence.  The autistic individuals in the film use assistive technology to express themselves and communicate with others.  The Foundation has supported a range of programs that encourage persons with those with autism express themselves through music, theater, visual arts, and, with the help of assistive technology, be educated in the public school system.


 
Individuals & Families PDF Print E-mail
The WCF staff all live in Westchester and bring to their work a profound knowledge of the region, its nearly one million people, institutions, and resources.

Why Start A Fund?

  • Lifetime and estate planning
  • Inheritance
  • Windfall profits
  • Appreciated assets - securities
  • Sale of business
  • Acquisition of closely held stock through sale, gift, or inheritance
  • To memorialize a loved one
  • Life insurance policy
  • IRA

What Is the Westchester Community Foundation?

The Westchester Community Foundation, a division of The New York Community Trust, is one of 650 community foundations around the nation:

  • The WCF manages and administers charitable funds for individuals, families, and businesses, allowing donors to focus on their philanthropy, not on the paperwork.
  • The WCF has awarded millions of dollars in grants to support nonprofit organizations located throughout Westchester, the country, and the world.

Since 1975, the WCF has been helping Westchester County make a difference.

Why Consider Opening A Fund In The WCF?

Charitable giving through a fund in the WCF offers donors maximum tax benefits without the bother of administration. The WCF staff performs all of the administrative work - bookkeeping, accounting, and check writing - and assures that only bona fide charities are supported. The New York Community Trust, the largest community foundation in the country, managing assets of $1.8 billion, oversees investment of the WCF funds in order to generate income for charitable giving now and into the future.

A gift of $5,000 starts a fund. A broad array of assets is accepted to start a fund, more options than are available when establishing a private foundation.

More economical than a private foundation

The benefits of charitable giving through a WCF fund accrue, no matter its size. Whether a gift of $5,000 or $5 million starts a fund, donors gain: immediate and favorable tax advantages; investment and management of funds by The New York Community Trust; freedom from the burden of filing annual reports with the IRS and the New York State Office of Charities; and relief from excise or penalty taxes and a mandatory annual payout. Unlike the time and effort required to establish a private foundation, setting up a WCF fund usually takes less than an hour and can be accomplished by a simple letter agreement. The savings to donors are considerable, both in set-up and on-going administrative fees.

More advantageous than a commercial gift fund

In addition to investment and fund management, unlike most commercial gift funds, WCF donors have the added bonus of access to an entire staff knowledgeable about the nonprofit sector. Even donors with a well-articulated philanthropic vision benefit from the WCF staff's expertise. Through forums, newsletters, and site visits, WCF donors can learn more about the region, its nonprofit community, and its changing needs.

The WCF is one of 650 community foundations throughout the world and a member of the Council of Foundations, which permits access to a network of information about nonprofit organizations and issues throughout the country.

Although it's the "Westchester" Community Foundation, donors may direct their philanthropy nationally as well as locally.

How to Start A Fund

Most funds are started by a simple one-page letter and the transfer of cash, stock, or other assets valued at $5,000. Of course, funds started with more complex forms of assets - closely held stock, limited partnership interests, restricted securities, and intellectual property rights might take more time to process. However, most WCF funds can be opened in less than an hour.

There are five basic fund types from which to choose: Unrestricted Fund, Field-of-Interest Fund, Designated Fund, Donor-Advised Fund and Scholarship Fund.

Funds must maintain a balance of $5,000 for a minimum of five years. Grants may be suggested from income generated from investment of the fund, or from a portion of principal and income from funds with more than $5,000.

Types of Funds

Unrestricted Fund

An Unrestricted Fund allows the Foundation's Board of Advisors to distribute grants to meet emerging challenges and needs in Westchester.

Field-of-Interest Fund

A Field-of-Interest Fund enables your client to focus his or her giving on a particular area of charitable interest, e.g., children.

Designated Fund

A Designated Fund names the charity or charities your client would like to support with the advantage that should it become unnecessary, undesirable, impracticle or impossible to continue making grants, the Foundation can redirect funds for important charitable puproses.

Donor-Advised Fund

A Donor-Advised Fund, while legally unrestricted, enables your client to recommend grants to nonprofit organizations.

Scholarship Fund

A Scholarship Fund helps students pursue their academic goals. Your client may even define the guidelines for the candidates, as well as the school.

Personalized Services

Advantages of a Public Charity

Because the WCF is itself a public charity, donors may deduct the full market value for all gifts that start a fund or add to an existing one. Donors may deduct up to 40% of their adjusted gross income for appreciated property and 50% for cash. These allowable deductions surpass the limits allowed for contributing to a private foundation.

Assets Accepted

A WCF fund can be started with a broader array of assets than a private foundation. In addition to cash and securities traded on major exchanges, the WCF accepts closely held and restricted stock; interests in limited partnerships; literature copyrights, motion picture and television rights; life insurance; IRA's; and the annual payout of a private foundation.

Flexible Timing

WCF donors can establish a fund during their lifetime through an outright gift, a variety of deferred payment plans, and by will or trust. This flexible timing maximizes tax benefits and can tailor your givings into an overall planning strategy. WCF accepts a variety of deferred giving instruments, including Charitable Remainder Trusts, Charitable Lead Trusts as well as gifts of life insurance policies and IRA's.

Experienced staff

WCF donors enjoy the personalized service that a professional staff well versed in Westchester County can offer. WCF staff has a wide range of experienced and professional degrees. The WCF staff is committed to knowing Westchester. The New York Community Trust staff is available to assist donors with information about New York City and national charities.