Frequently Asked Questions
We are a community foundation which means: “It is a tax-exempt, nonprofit, autonomous, publicly supported, nonsectarian philanthropic institution with a long-term goal of building permanent, named component funds. These funds are established by many separate donors for the broad-based charitable benefit of the residents of Portage County, predominantly”.
2. Does the Foundation have more than one purpose?
Yes. As stated in our bylaws, the Foundation; “devotes special emphasis to programs that enrich the life of the community through funding of health and human services, education, environment and community services”.
3. Are all contributions to The Portage Foundation tax deductible?
Yes. You can take the maximum tax advantage allowable by law for your donations.
4. What type of contributions will you accept?
Cash, checks, securities, paid up life insurance policies and property that can be sold promptly. We do not accept household items.
5. Can I include The Portage Foundation in our estate plans?
6. If I have a private foundation, could I set up a donor-advised fund in The Portage Foundation and avoid some of the challenges/expenses of having my own private foundation.
7. Could I set up a donor-advised fund, even if I do not currently have a private foundation to transfer over?
Yes. The current minimum for such a fund is $5,000.
8. Can The Portage Foundation advise me on current or future priority needs in the County to help me establish the focus of my fund?
Yes. We maintain relations with other agencies in the County that assist us in knowing what current priorities are.
9. How are the assets of The Portage Foundation managed/invested?
All finances of the Foundation are overseen by the Finance and Investment Committee and Board of Trustees of the Foundation. Policies have been adopted to provide guidelines. Professionals in the investment profession manage the invested funds in accordance with Board approved guidelines.
10. Will The Portage Foundation work with my professional advisors (attorneys, accountants, financial consultants etc.) in determining the best way to fulfill your philanthropic interest?
Yes, we value the opportunity to work with these people and meet your expectations.
11. What is the IRS provided Tax Identification Number for The Portage Foundation?
12. How do I contact The Portage Foundation?
Mailing address; 138 East Main St. – Suite 201
Kent, OH 44240