Q. What is the Nicholas County Community Foundation?
A. The NCCF is a collection of charitable endowments operating under the administrative umbrella of a single public charity. By IRS definitions we are non-profit, tax-exempt and publically funded. The Nicholas County Community Foundation is a 501(c)3, public charity, created by and for the people of Nicholas County in 2006.
Q. What is an “endowment”?
A. Simply put, an endowment is an investment in the future of Nicholas County. Your gift is invested to provide support for a specific purpose you choose and to ensure the principal amount of your gift grows. Your original principal is never spent, only the return on investment (interest) up to a defined percentage. Any remaining interest income is put back into the fund so it continues to grow. The NCCF is the youngest community foundation in the state of West Virginia and the only serving foundation for Nicholas County.
Q. Are community foundations common?
Q. How can we contact you?
Q. How can I give a gift?
A. Gifts of all sized are accepted and appreciated. To create a named funds normally begin with gifts of $10,000 or more. The NCCF accepts gifts of any size. Gifts can be made to the community’s Fund for Nicholas County (unrestricted endowment fund) or to an existing fund. Additionally, we can accepts gifts of appreciated securities, real estate, as well as with the creation of charitable gift annuities, charitable remainder and charitable lead trusts.
Q. Who establishes funds with the NCCF?
Q. How much do I need to contribute to create a fund?
A. $10,000 minimum for your own endowed fund with up to 5 years for Build Over Time Fund. However, we accept any sized contributions, with your choice as to which existing fund the donation is to be applied.
Q. How do I apply for a grant?
A. The NCCF annually accepts grant requests from 501(c)3 organizations and governmental institutions for up to $15,000. The grant deadline is September 1st of each year. Visit the grants page for more information.
Q. Where do I mail contributions?
Q. Can I make donations online?
Q. How is the money invested?
A. The NCCF Board retains the responsibility for the overall investment management. Currently, Truit is our investment manager.
The primary objective for the investments of the Foundation is the preservation of capital while providing for the long-term growth of principal without undue exposure to risk. The goal for the annual total return on the assets, net of investment manager fees, shall strive to meet or exceed the greater of 9% or Consumer Price Index plus 6% over a five-year moving period.
Asset Class Target% Minimum Maximum
Equities 60 25 75
Fixed Income 30 10 50
Alternatives 10 0 20
Cash/Equivalents 0 0 50
Q. What are the fees?
A. 100% of all donations are paid into the designated fund. The NCCF does assess a small administrative fee from the funds assets to help offset administrative costs. The fee is up to 1% of the market value annually for endowed funds and 2.5% annually for non-endowed funds. Our investment manager (BB&T) also assess a fee of less than 45 basis point.