Frequently Asked Questions

Question:

How does Triangle Community Foundation differ from a private foundation?

Answer:

A private foundation is usually endowed by a single family or corporation and controlled by that family or corporation. In contrast, a community foundation derives its support from a broad spectrum of the general public and is controlled by a board of community leaders. Because it is publicly supported and controlled, the community foundation is accorded certain advantages over private foundations by the IRS, including the following:

Higher deduction limits for donors.

No excise tax imposed.

No minimum payout requirement.

No separate tax reporting on individual funds.