What is the Bedford Community Foundation?
The Bedford Community Foundation (BCF) is a public foundation actively
serving our community as a fund developer, fund manager, and
grant maker. We also serve as a conveyor, planner, and enabler
for special projects. It becomes a union of many gifts, many
different estates, or parts of estates, contributed for the most
part by people of a particular community for the benefit of that
community.
Where
does the foundation get its funds?
The BCF receives its money from individuals, families, organizations, or corporations
interested in providing financial support for charitable purposes and organizations,
which serve the residents of the Bedford Township and surrounding areas. These
gifts and bequests make up the permanent endowments of the BCF, the income from
which is used to make grants.
How
are the gifts made to the foundation?
A donor may make a gift or bequest of any size to the BCF for the community's
benefit. Many donors provide unrestricted gifts to the Fund of Bedford. This
fund responds to community needs as they arise. Other donors designate a specific
organization or area of concern. Scholarships and memorial funds are also popular.
Contributions may be eligible for tax purposes as allowed by law.
How
are assets managed?
A volunteer finance committee, comprised of experienced financ professionals,
set the overall investment policies. The committee, staff, and evaluation consultant
monitors the performance of investment managers carefully.
Who
decides how the funds are distributed?
A volunteer grants committee recommends Grant awards, after review by professional
staff. Trustees of BCF make the final decision regarding all non-designated distributions.
Where
does the money go?
Grants are made to charitable organizations serving the residents in Bedford
Township and surround areas in the areas of health, human services, economic
development, the arts, education, and civic affairs. Grant amounts vary depending
on the nature and need of the request.
- Your gift must be to a permanently endowed fund.
- The maximum credit of a $200 donation is $100 dollars.
- The maximum credit of a $400 donation is $200 dollars.
- For a resident, estate, or trust, the credit is the lesser of 10% of the taxpayer's tax liability for the current tax year before claiming any credits allowed by the Income Tax Act; or $5,000.00 for a $10,000.00 gift.
- For single business taxpayers, the lesser of 5% of the taxpayer's liability for the tax year before claiming any credits allowed by the Single Business Tax Act; or $5,000.00 for a $10,000.00 gift.
- If you give less than the maximum, your credit will be 50% of the gift.
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Follow the Bedford Community Foundation on Facebook
We have created a Facebook page for you to stay in the know of what's going on at the Foundation.
Scholarships available
Attention Highschool students...don't forget to take advantage of scholarships that are available through the Community Foundation.
