Frequently Asked Questions

Below you will find a list of commonly asked questions.  Click the arrow key to the right to view the answer.

What is the Nicholas County Community Foundation?

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.

What is an “endowment”?

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.

Are community foundations common?

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.

How can we contact you?

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

How can I give a gift?

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 unrestricted endowment fund or to an exisiting 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.

Who establishes funds with the NCCF?

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.

How much do I need to contribute to create a fund?

Different types of funds require different amounts of investment, the least expensive being a named unrestricted endowment fund starting at least a $5,000 endowment gift. However, a fund can be started with as little as $1,000, with five years to build to the full amount. This permits the donor to name the fund and designate the non-profit beneficiary of the fund while building the fund over time. See Starting a Fund for more information

How do I apply for a grant?

The NCCF annually accepts grant requests from 501(c)3 organizations and governmental institutions for up to $20,000. The grant deadline is September 1st of each year. Visit the grants page for more information.

Where do I mail contributions?

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.

Can I make donations online?

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

How is the money invested?

The NCCF Board retains the responsibility for the overall investment management. Currently, BB&T and United Bank are our investment managers.

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
Fixed Income 35 25 50
Alternatives 0 20
Cash/Equivalents 0 50
Equities 65 25 75

 

 

 


What are the fees?

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.  Our investment managers (BB&T and United Bank) also assess a fee of 75 basis point.

How much is distributed annually from a fund?

The targeted distribution (or spending rate) annually is 5 percent of the value of your funds average balance, calculated after 16 investment quarters.  For funds on record less than 16 full quarters, but at least four, we use the average of the quarters it has been in existence.  The distribution is inclusive of NCCF’s administrative fee.

How is my privacy protected?

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.

How are Donors Recognized? Can I remain Anonymous?

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.