(304) 872-0202 nccfwv@gmail.com

FAQ

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?

A. There are only about 700 such foundations in the United States. Community foundations make up one of the fastest growing sectors of philanthropy in the United States today. The first community foundation was established in Cleveland in 1914. Today, we join a field of more than 700 community foundations across the United States, with combined assets of approximately $45 billion.

Q. How can we contact you?

A. You may email us at NCCFWV@gmail.com or call us at (304) 872-0202.

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?

A. Most funds are set up by individuals and groups of individual. Some are “wealthy”, others come from more modest means. What these people have in common is a desire to give back to their community—whether it’s protecting the environment, honoring the memory of someone they loved, setting up a scholarship fund to help students in need, supporting local arts organizations or funding any other charitable cause imaginable.

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?

A. Tax deductible contributions can be made out to NCCF and mailed to: PO Box 561, Summersville, WV 26651. If you would like to direct your gift to a specific fund please write the name of the fund in the memo line.

Q. Can I make donations online?

A. Yes! Simply click on the DONATE button on the left of the screen to make a tax-deductible donation securely online here

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.

Q. How is my privacy protected?

A. We do not rent, sell or trade our mailing lists. Periodically, we do send out information that we feel may be of interest to the recipient – such as our Annual Report. If you receive information from us and you wish to be removed from our mailing list, please contact us and we will gladly accommodate your request.

Q. How are Donors Recognized? Can I remain Anonymous?

A. Our annual report includes specific details of all of our endowment funds as well as list of donors who made gifts to the NCCF or to one of its funds. The amount of a contribution is not disclosed. If you prefer to remain anonymous and do not wish for your name to be included in this list, please contact us and we will gladly accommodate your request.

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