Create a Fund

Creating a New Fund

Step 1
Identify your giving goals. Do you want the fund to be permanent (endowed)? Will there be restrictions to a field of interest or a specific organization? The Community Foundation offers a variety of types of funds flexible to meet your individual needs.
Step 2
Decide whether you wish to participate in grant making decisions or leave that task to the Foundation’s Board of Directors.
Step 3
Determine what type of assets will be used to establish the fund. Donors have many options. You decide what works best for you and your income tax situation.
Step 4
Decide when to give. Are you able to make an outright gift now or a series of gifts during the next 2 to 5 years or do you wish to consider making a planned gift through your estate plan to establish the fund?
Step 5
Finalize the gift by choosing the fund’s name, signing a fund agreement and arranging for the transfer of assets to the Foundation. A minimum may be required to establish a fund.
The Cedar Falls Community Foundation will make examples of fund agreements available upon request. For more information contact the Cedar Falls Community Foundation.


Donations
Designate Other Fund

How to Give to New and Exisiting Funds

The Cedar Falls Community Foundation accepts donations in a number of ways. Contributions to the Cedar Falls Community Foundation are fully tax deductible. Gifts may include monies or other properties, both real and personal, in trust or otherwise, as may be acquired by will, gift or otherwise. Gifts may be directed or undirected. Donors are encouraged to consult with their personal tax advisor, accountant, or attorney before making donations.

Some examples of gifting methods:

  • Assets of a family or private foundation
  • Appreciated stock
  • Bonds
  • Cash
  • Charitable Remainder Trust and other planned gifts
  • Closely held stock
  • IRAs or other retirement funds
  • Life insurance
  • Mutual fund shares
  • Real estate or personal property
  • Wills and bequests

Donations
Designate Other Fund

Consult with your personal tax advisor, accountant, or attorney.
Contact the Cedar Falls Community Foundation to learn more about the foundation and options for giving.

Gift Acceptance Policy. Questions? Please contact the Cedar Falls Community Foundation at cfcf@cfu.net.
Privacy Policy. Questions? Please contact the Cedar Falls Community Foundation at cfcf@cfu.net.

Address: Cedar Falls Community Foundation
P.O. Box 546
Cedar Falls, IA 50613

Telephone: 319-243-9170

Email: CFCF@cfu.net

Fund Types

Agency Funds
These funds are established by non-profit 501(c)(3) organizations. Contributions from many different donors are collected and invested with the Cedar Falls Community Foundation. Distributions are granted to support the programs or operations of the non-profit organization. Funds may be named in honor of an individual, family, organization, or business. If you are interested in establishing an Agency Fund, contact the Cedar Falls Community Foundation.

Designated Funds
There are two types of designated funds. A donor may specifically assign a non-profit organization to benefit from the fund. Alternatively, the donor may elect to support a particular area of community life such as the arts, education, health care, seniors or youth. The Cedar Falls Community Foundation actively searches for worthy projects within the defined field of interest and offers grants or awards only to those organizations or projects that fulfill the mission and the intent of donor’s field of interest. Other donors can designate that contributions be deposited to any designated fund. If the donor’s designated organization ceases to exist or ceases to deliver the services that the fund was designated to support, the Cedar Falls Community Foundation will seek alternatives to carry out the donor’s intentions and desires. Funds may be named in honor of an individual, family, organization, or business. If you are interested in establishing a Designated Fund, contact the Cedar Falls Community Foundation.

Designated Non-Permanent Funds
When individuals or groups join together on a grassroots project for the community, they may come to the Community Foundation so their project is eligible to accept tax-deductible donations. The Community Foundation is not able to accept every proposed project, however if accepted, a Designated Non-Permanent Fund Agreement and Fiscal Sponsorship Operating Agreement will be developed. If you are interested in establishing a Designated Non-Permanent Fund, contact the Cedar Falls Community Foundation.

Donor Advised Funds
With this type of fund, donors can consolidate their charitable giving into one invested fund. Donors receive a tax deduction for contributions to the fund. Once the fund is established, donors may recommend grants be made to any 501(c)(3) public charity. Grants are made from the fund with the approval of the Community Foundation Board in the name of the fund and the donor receives recognition for the gift. Funds may be named in honor of an individual, family, organization, or business. If you are interested in establishing a Donor Advised Fund, contact the Cedar Falls Community Foundation.

Scholarship Funds
A scholarship fund allows donors to help deserving students further their education. Donors may designate any level of education from preschool to postgraduate work as well as field of study and eligibility requirements. Funds may be named in honor of an individual, family, organization, or business. If you are interested in establishing a Scholarship Fund, contact the Cedar Falls Community Foundation.

Testamentary Funds
Testamentary funds are established by individuals who wish to create a charitable legacy for the community. These funds are established via a planned gift through your estate. These funds will be administered according to the guidelines specified in your estate plan. The Cedar Falls Community Foundation can work with you during your lifetime to develop a formal agreement describing how the fund will operate after your death. Funds may be named in honor of an individual, family, organization, or business.

Unrestricted Funds
Unrestricted funds are essential to building a flexible and responsible community endowment that can respond to changing and emerging needs. These funds enable the Cedar Falls Community Foundation to make grants to a variety of community organizations, programs and services. Unrestricted funds are established without designation as to how the contributions and/or earnings will be spent. The Foundation’s Board of Directors determines how the fund can most effectively meet the community’s most pressing needs. Funds may be named in honor of an individual, family, organization, or business.

Endowed & Non-Endowed Funds

Any of the preceding funds may be established as endowed or non-endowed.

Endowed funds are created when a donor instructs the Community Foundation to invest a gift to generate spendable resources in perpetuity to fulfill his or her intent. Distributions are limited to the Fund’s distributable income determined in accordance with the Foundation’s spending policy.

Non-endowed funds may be of a permanent or non-permanent nature and differ from endowed funds in that distributions are not limited to the fund’s distributable income. Non-endowed funds often receive contributions from multiple donors, including the general public.

Permanent non-endowed funds are created when a gift is sufficiently large to have a multi-year impact but the donor does not specify whether the gift should be expended or held in perpetuity. Permanent non-endowed funds are invested as if they were subject to the terms of an endowed fund. However, the Community Foundation Board has the discretion to spend all or part of the gift amount for the purpose designated by the donor.

Non-permanent funds are generally held for limited period of time and are generally used to support a specific project. During that period of time the gift amount and all of the earnings are expended as the donor specified so that no funds remain at the end of the term.

CFCF Endowments

Mary Beckman Endowment: Cedar Bend Humane Society
This fund was established by a testamentary gift under the Will of Mary G. Beckman to establish an endowment fund for the Cedar Bend Humane Society.

Mary Beckman Endowment: Cedar Falls Public Library
This fund was established by a testamentary gift under the Will of Mary G. Beckman to establish an endowment fund for the Cedar Falls Public Library.

Robert Eller Study Abroad Endowment
This account was established by Robert Eller. It was placed with the Cedar Falls Civic Foundation to make it possible for a graduate student at the University of Northern Iowa to have the opportunity to study a semester in another area of the country or of the world. The choice of student is made by a Professor Emeritus Committee at the University of Northern Iowa.

CFCF Non-Endowed Funds

Altrusa Club
The Cedar Falls Altrusa Club holds annual fund-raisers and encourages and supports scholarships for local individuals. Over the years this account has supported scholarships.

American Association of University Women
The AAUW Cedar Falls Branch offers the Transition Scholarship to non-traditional female students. For more information, see "Serving the Community/Grants & Scholarships".

Black Hawk – Bremer League of Women Voters
This account is funded by contributions and was established for the purpose of supporting the printing of materials to inform the general public about voter’s rights and privileges and for educational purposes.

Robert and Shirley Berg Endowment: James & Meryl Hearst Center for the Arts
The Shirley (Robert) Berg Estate left a bequest for the Hearst Center for the Arts. This Endowment will be disbursed solely to benefit the Hearst Center for the Arts for the purposes which include but are not limited to the preservation of the existing art collection, building and enhancing the permanent art collection through the acquisition of new works of art, supporting visiting exhibitions, supporting special cultural programming and capital projects that benefit the facility.

Robert and Shirley Berg Endowment: Cedar Falls Public Library
The Shirley (Robert) Berg Endowment fund’s assets were received through a bequest under the will of Shirley Berg. This Endowment shall be used to support the provisions of Public Library programming and services for the benefit of the residents of the City of Cedar Falls. Specifically, the Endowment is to be used to assist in the funding of programs and projects outside the scope of normal and expected programming as well as significant capital projects. Support of participation by the Library in joint programming efforts with other local libraries is permitted. The Endowment may also be used to support the sponsorship by the Library of significant exhibitions and special programming.

Cedar Falls Community Foundation Enhancement Account
This fund was put in place by the Foundation to make it possible to offer community groups the opportunity to access funding for initial support toward creative ideas that might not otherwise be available to our citizens. The intent is to provide initial funding for a project that would be self-supporting and able to return the initial dollars to the CFCF Enhancement Account.

Cedar Falls Community Theater
The Cedar Falls Community Theater requested the establishment of this account. At this time funds from this account are used make payments on capital improvements to the Cedar Falls Community Theatre.

Community Main Street Fund
This fund was formed to facilitate charitable giving to promote and support revitalization efforts in the Cedar Falls downtown district, north of 7th Street to the Cedar River, and east of Franklin Street to the Cedar River. The Fund is to be used to maintain and improve the landscape and streetscape of the Cedar Falls downtown district. The purposes for which the Fund may be used include public lighting, green space developments, banners and signage, pedestrian and bicycle amenities, facade improvement, handicapped accessibility, and projects such as a public plaza and an ice rink..

Cedar Falls Public Art Fund
The Cedar Falls Public Art Fund was established by the Cedar Falls Art & Culture Board to facilitate charitable giving that will promote and support public art programs and projects of the Board and its Public Arts Committee.

Cedar Falls Public Library Endowment
The assets of this Endowment have been generated from gifts and contributions by individuals, companies and organizations to the Cedar Falls Civic Foundation for the support of Public Library services within the City of Cedar Falls. No assets of the Endowment are to be construed as accruing to or being able to revert to the City of Cedar Falls or its general fund. The Endowment monies shall be used exclusively to support the provision of Public Library services to the residents of the City of Cedar Falls. Specifically, the Endowment is to be used to assist in the funding of programs and projects outside the normal and expected programming as well as capital projects for the Cedar Falls Public Library. Funds shall be used to fund non-budgetary projects and programming, start-up costs associated with new budgetary programs and capital items (including equipment) not included in the City of Cedar Falls’ Capital Improvement Projects.

Cedar Falls Woman’s Club Endowment
This Endowment account was established to receive donations through gifts and bequests for long-term support of the Clubhouse and its continuing presence in our community.

Cedar Falls Woman’s Club Building Fund
The Cedar Falls Woman’s Club dedicated the Victorian home at 304 Clay Street in 1929. The home was built in 1867 by Joseph T. Knapp and was secured through a gift of $20,000 and an intensive fund-raising effort by the members of the Woman’s Club to raise $10,000. During the past 80 years, the Woman’s Club has retained the Clubhouse with minimal changes and necessary maintenance. This fund is used to maintain the home and make upgrades as necessary. The Cedar Falls Woman’s Club Building Fund is funded with donations and grants. Projects are in place and on-going as fund-raising efforts allow.

Diamond Community Enhancement
This fund was established by a gift to the Cedar Falls Community Foundation by Saul and Joan Diamond. The purpose of the fund is to stimulate lifelong learning by providing experiences in the fine arts or the history of Cedar Falls that offer options for interactive or multi-sensory experiences that go beyond merely listening or viewing.

Downtown Ice Rink
This account was established with a donation from Linda Anderson to create a downtown ice rink. The project goal was to provide another ice rink and enhance the area surrounding the rink with trees and lights.

Friends of Clay Street Park
Friends of Clay Street Park was established by Jonathan Taiber to provide funds to enhance the Clay Street Park user experience and the Park's role in the neighborhood through the support and improvement of the Park's infrastructure.

Friends of the Cedar Falls Public Library
The Cedar Falls Public Library has a space called the Book Nook to allow the general public to donate books, magazines, periodicals and other associated materials in support of the Library. These items are place for purchase with monies earned going toward support of the Library. The Friends of the Cedar Falls Public Library recommend direction of appropriate disbursements from this fund.

Overman Park Association
This account was established to, by way of private donations, support and benefit activities toward the historic Overman Park area of Cedar Falls. An Overman Park Neighborhood Committee was established to work toward this effort. Monies donated are used for printing of educational materials and support of Committee activities.

Peter Melendy Scholarship
This scholarship fund was established in 2014 to honor the recipients of the annual Peter Melendy Community Builder Award. Applications are not yet being accepted to this fund.

Prairie Rapids Whitewater Course - Prairie Paddlers
This account was established by the Prairie Rapids Paddlers’ group. The goal is to build a white-water play park in Cedar Falls at Gateway Park. This Committee continues to work toward this effort.

Kathryn L. Ray Endowment: Cedar Falls Public Library
The assets of this fund were received through a bequest to the Cedar Falls Civic Foundation under the will of Kathryn L. Ray for the benefit of the Cedar Falls Public Library. The monies in this fund shall be used to support the provision of Public Library programming and services for the benefit of the City of Cedar Falls. Specifically, this fund is to be used for programs outside the scope of normal and expected programming as well as significant capital projects for the Cedar Falls Public Library. Support of participation by the Library in joint programming efforts with other libraries is permitted.

Kathryn L. Ray Endowment: Cedar Falls Recreation Center
The assets were received through a bequest under the will of Kathryn L. Ray to the Cedar Falls Civic Foundation to be used for the Cedar Falls Recreation Facility. It is the opinion of the Foundation that it was the intent of Mrs. Ray to broadly benefit and enrich the delivery of recreational and leisure services within the City of Cedar Falls. Consequently, income from the fund may be used to support recreation and leisure services programming as well as the improvement of all recreation physical facilities within the City of Cedar Falls.

Ella C. Rownd Trust
The Rownd Trust was established in 1967 under the Will of Ella C. Rownd as a memorial to herself, her husband, C.A. Rownd, and their son, Fred Rownd. The Trust has served as a catalyst and change agent within the City of Cedar Falls by discovering and responding to significant capital needs and opportunities within the community. Total gifts to the community from the Rownd Trust exceed $800,000. 

Veterans Memorial Park
Veterans Memorial Park was established in 1997 as a fitting memorial honoring our Country, paying tribute to the five military services and recognizing the individual sacrifices and service of Cedar Falls’ and local veterans. The focus of the Park is a 50 foot flag pole placed in the circular area paved with stained concrete and engraved bricks. The base of the flag pole is comprised of 5 jet black granite tablets mounted in a pentagon-shaped foundation of exposed aggregate. Each tablet is etched with the seal and name of a branch of the Armed Forces. Engraved bricks may be ordered through the Cedar Falls Park Division - 319-273-8643. Donations to this account are used for engraving and placement of bricks, as well as upgrade, repair and maintenance of the Park.

Foundation News

5/18/2017

New Board Members Announced

The Cedar Falls Community Foundation, a nationally accredited community foundation, held its Annual Meeting on April 27, 2017 and elected three new board members.  Carol Lilly, Ty Kimble, and Mark Ripplinger will join the Foundation Board, replacing retiring board members Robert Dieter, David Mason Jr. and Bruce Verink.  Past Foundation President Miller Roskamp also retired

5/11/2017

Three Scholarship Recipients Will Study Abroad

The Cedar Falls Community Foundation has announced that three scholarships have been awarded from the Robert Eller Study Abroad Endowment for Fall 2017 study abroad. The Robert Eller Study Abroad Endowment was established by emeritus UNI Education Media Specialist Robert Eller to foster the educational, professional, and personal growth of undergraduate students at the University