FREQUENTLY ASKED QUESTIONS
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Q. What is an affiliate?
A. An affiliate is defined as a component fund or collection of funds established at a community foundation to serve a defined geographic area - in this case, the Hockley County area.
Q. What is an endowment?
A. An endowment is a permanent fund that is invested and grows over time. A portion of the earnings are made available for grants each year.
Q. What is the Hockley County Endowment?
A.The Hockley County Endowment is a local organization led by a local board of advisors. Its purpose is to address issues, identify opportunities, develop resources and help educate donors on nonprofits in the Hockley County community.
Q. What is a fund?
A. A fund is one of many separate accounts that the community foundation manages. Gifts to a fund, investment earnings and grants are tracked for each fund. Each fund has a particular purpose and an agreement describes the kinds of grants to be made.
Q. What if the charity I designate a fund for ceases to exist?
A. Should an organization cease to exist or dramatically change, the community foundation will direct the fund’s payout to another organization serving like needs in the community.
Q. What is planned giving?
A. Planned giving is a donor’s formal plan to give at the time of their death, usually through a will. Planned giving is a way for a donor to continue supporting their favorite charity after their death.