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210 North Central Avenue

Suite 310

Hartsdale, NY 10530

 

P: (914) 948 - 5166

F: (914) 948 - 5197

[email protected]

 

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Cash

You may use cash to establish a new fund, or add to existing funds. The minimum amount needed to establish a Donor-Advised Fund is $5,000. If you would like to set up a new Donor-Advised Fund, please contact Laura Rossi, Executive Director, for a Fund Agreement.

 

For existing funds, you may follow the instructions below:

 

  1) Cash gifts by check

 

Please make checks payable to “Community Funds, Inc.” and mail it to:

 

Community Funds, Inc.

Attn: Wen Weng

909 Third Avenue, 22nd Floor

New York, NY 10022

 

*Please reference the fund name and fund number on the check.

 

  2) Sending gifts of cash by wire or ACH

 

 

First: Ask your bank to make the transfer. 

 

Instructions for wires and ACH transfers are:

JPMorgan Chase Bank
270 Park Avenue, 43rd Floor, New York, NY 10017
ABA No. 021 000 021
Account Name: Community Funds, Inc.
Account Number: 134 757 998

Attn: Liz Lewis (718) 242-0170

 

*Please reference your fund name and fund number.

 

  3) Then: Notify us of your gift

 

Let our Controller, Wen Weng, know the amount you are planning to transfer so that we can make sure that it is received. 

 

Wen Weng, Controller

Community Funds, Inc.
909 Third Avenue, 22nd floor, New York, NY 10022
Phone: 212-686-0010 Ext. 499 | Fax: 212-532-8528

[email protected]

 

 

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Securities

We accept many different forms of securities. The most common one that donors give are publicly-traded stock, but we also accept mutual fund shares, bonds and many other forms that may require some special instruction for delivery. See below for a list with specific instructions on how to transfer the particular securities. Please contact Raymond Salibar, Investment Administrator, if you have any questions.

 

  1) DTC transfers of securities

 

Most stock gifts can be delivered to our brokerage account through DTC. If you are uncertain whether your gift is eligible for DTC, please contact your broker or bank custodian. Note: If you are giving one security valued in excess of $100,000, please refer to the section on these gifts below. Gifts of restricted stock, thinly traded stock, and foreign shares are also discussed in a separate section below. 

 

First: Ask your broker or custodian bank to deliver the shares to:

Pershing LLC
DTC # 0443
Account Number: N7M100327
Account Name: Community Funds, Inc. 

 

Download a letter of authorization (LOA) to send to your broker, custodian bank, or investment advisor.

 

Then: Notify us of your gift
DTC identifies only the sending institution—not the individual account. We have no way of matching you with your gift unless you notify us. Please let our Investment Administrator, Raymond Salibur, know the name of the security and the number of shares being delivered, and the name and number of the fund that will be receiving the gift. Also, please provide the name of the delivering broker or bank and the name and phone number of the contact person at the institution. 

 

Raymond Salibur, Investment Administrator
Community Funds, Inc.
909 Third Avenue, 22nd floor. New York, NY 10022
Phone: 212-686-0010 Ext. 455 | Fax: 212-532-8528

[email protected]

 

You may also download this information on Procedures for Gifts of Publicly Traded Securities here: 

 

  

 

  2) Gifts of mutual fund shares

Gifts of mutual fund shares require special instructions from us before donors make the transfer. Please contact Raymond Salibur before making a gift of mutual fund shares.

 

  3) Gifts of one security valued in excess of $100,000

Gifts of large positions (valued in excess of $100,000) require special instructions from us before donors make the transfer. Please contact Raymond Salibur before making a large gift of one stock.

 

  4) Gifts of restricted (e.g., Rule 144), thinly traded, or foreign stock

Gifts of Rule 144 or other restricted stock, thinly traded stock, or foreign shares require special instructions from us before donors make the transfer. Please contact Raymond Salibur before making gifts of any of these securities.

 

  5) Gifts of securities registered in your name or securities in dividend reinvestment plans

Securities registered in donors' names or securities held in dividend reinvestment plans require special instructions from us before donors make the transfer. Please contact Raymond Salibur before making gifts of any of these securities.

 

  6) Gifts of fixed income securities

Bonds require special instructions from us before donors make the transfer. Please contact Raymond Salibur before making gifts of any fixed income securities.

 

 

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Unusual Gifts

Community Funds has, from time to time, accepted unusual gifts such as shares of closely held corporations, partnership interests, real estate, works of art, intellectual property, or jewelry. Since these gifts tend to be complicated they often require a long lead time. If you would like to discuss this type of gift, please contact Jane Wilton.

 

Jane Wilton, General Counsel
Community Funds, Inc.
909 Third Avenue, 22nd floor, New York, NY 10022

Phone: 212-686-2563 | Fax: 212-532-8528

[email protected]

 

 

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Convert a Private Foundation
 

If you are feeling burdened from administrative regulations, family disagreements, or succession planning in your private foundation, consider converting your private foundation to a fund at the Westchester Community Foundation. We will work with you to create a fund that best fits your circumstances and maximize the level of control and help you would like with your grantmaking. Please contact us to discuss possible options.

 

Professional advisors may be interested in reading more about the topic in

our Winter 2015 and Fall 2015 Professional Notes publication.

 

 

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