Frequently Asked Questions (FAQs)
Marshfield Area Community Foundation, Inc. is a public charity managing a number of permanent endowment funds serving multiple community needs including arts and culture, education, environment, health, human services, and recreation. The Foundation is classified with the IRS as 501(c)(3), meaning it is non-profit and tax-exempt.
No. Although a public organization, we are completely independent and have no connection with any government entity. However, we have handled funds that contributed to city projects. Our Wildwood Park Station Fund raised about two-thirds of the money necessary to build the pavilion in Wildwood Park with the remainder coming from the city.
No. The fact that the Clinic Foundation is based in Marshfield, however, does mean that this Community Foundation has few funds that have a medical or health focus, since those foundations already do such a wonderful job supporting those needs.
Basically, the donors decide.
- With a Designated Fund, grants are given annually to a particular non-profit organization each.
- With a Field of Interest Fund, a Foundation committee usually will solicit applications from relevant organizations and select grantees.
- With a Donor Advised Fund, the donor decides from year to year to which nonprofit(s) they wish to make grants.
- With our Scholarship Funds, the selection is often delegated to a scholarship committee within the school or with our foundation.
Marshfield Area Community Foundation, Inc. uses $10,000 as the minimum for an endowed fund. $15,000 is required to begin a scholarship fund. However, donors may begin an Acorn Fund with as little as $500 and build it to $10,000 – $15,000 within four years. We are happy to work with donors to prepare an agreement that fits their needs and resources.
In all, Marshfield Area Community Foundation, Inc. manages about 200 funds.
No. Some of the organizations that have established funds with us, such as Marshfield Outdoor Aquatic Center, raise money for projects and we manage the funds. Most of these funds are Project Specific Funds, meaning they raise enough money to accomplish a specific purpose after which the fund is dissolved. Project Specific Funds are not endowments. The Baseball Stadium Fund (that built Jack Hackman Field), the Wildwood Station Project Fund, and the Hamus Nature Preserve & Recreation Area Fund are examples of these. We do, however, ask for gifts for our internal grants and projects such as Keep Kids Warm.
From 1994 through 2016, Marshfield Area Community Foundation, Inc. has made grants totaling $16.5 million.
Our funds are assessed an annual fee of 1.0% to 5.0 % of total assets. This fee is used to cover Foundation operating costs.
Oversight of the Foundation is in the hands of a volunteer Board of Directors that is broadly representative of the community and familiar with the community’s diverse range of needs. Sixteen people serve, without compensation, on the Foundation’s Board. Marshfield Area Community Foundation, Inc. has two paid staff: an Executive Director and a part-time Administrative Assistant. All transactions at the Foundations are private. To learn more our policy, click here.