We connect people who care with causes that matter

The Community Foundation of Lorain County is dedicated to enriching the lives of those living and working in Lorain County, Ohio.

Professional Advisors

What Is the Community Foundation of Lorain County?

The Community Foundation of Lorain County is a non-profit organization dedicated to making Lorain County a better place to live and work. Currently the 8th largest in the state of Ohio, the Foundation manages $110 million in assets and distributes upwards of $4.5 million each year in the form of grants and scholarships.

We offer custom solutions to your clients’ charitable goals. With over 33 years of experience, we have an in-depth understanding of community issues, financial expertise, and a passion to serve.

Fund Setup

With a gift of $10,000, a donor can establish a named fund ($25,000 for scholarship funds) for almost any charitable purpose and at any of various levels of involvement. Fund minimums can be contributed over a five year period. We accept a wide variety of gifts including but not limited to cash, stock, bonds, insurance, real estate, and property such as art or jewelry. Gifts can be made in honor or in memory of a loved one.

Planned Giving

Legacy donors can work with the Foundation to set up planned giving funds before their passing, to ensure that their charitable intent is thoroughly documented. This also ensures that that the donor(s) can be properly acknowledged during their lifetime. Planned gifts include charitable gift annuities and charitable remainder trusts, estates, bequest in a Will or Living Trust, gifts of life insurance, or beneficiary designation of Individual Retirement Accounts [IRA, 401(k), 403(b)].

Foundation Investment Strategy

The Community Foundation adheres to a comprehensive investment policy that pools all assets to increase investment diversification, manages volatility, and minimizes costs. The Foundation hires investment managers, based upon their expertise, to invest in specific market sectors. The Foundation works with an independent consultant to monitor each investment manager’s performance. Donors wishing to establish a fund of at least $1 million, can recommend their own advisor.

Administrative Support 

Our business is building community. Together, we are leading our community to a better future.

To support this community change and ensure that we can uphold the promises we have made to our 540 fund holders, the cost of operating the Foundation is equally shared among the endowed funds at a minimal rate of 1.25% of each fund’s average market value (1.5% for scholarship funds),

Your Charitable Back Office

The Foundation wants to be your partner, your charitable expert. We want to help you help your clients be strategic in their charitable planning and ensure that their plans have impact and sustainability. (We can do this all without ever meeting your client.)

We have in-depth knowledge of the nonprofit sector and the needs of the community, financial scenario tools, and access to a variety of charitable giving options including charitable gift annuities (CGAs), charitable remainder trusts (CRTs), tax-advantage giving, and more.  

We encourage non-cash and unique gifts. Consider these example situations:

Donor wants to support a nonprofit, but she is concerned about their long-term sustainability.

Solution: The Community Foundation has invoked the “variance power” 10 times in the last five years. This allows us to fund other organizations in the community with similar missions to ensure that donor intent continues, even when the original organization ceases to provide services.

Client has no heirs and wants to be charitable with his only major asset, his large amount of farmland. His preference is for the land to remain as farmland.

Solution: The Community Foundation currently owns 400 acres of farmland in southern Lorain County. That land has been sublet to local farmers and the proceeds provide support for school scholarships.

A couple wants to leave a large planned gift to a nonprofit but they are concerned the organization will not be able to handle a gift of this size.

Solution: The Community Foundation has over 120 organizations receiving designated funds from endowments that either the organization has set up themselves or from endowments created by benefactors.

We help donors do good, while doing well financially.

For more information contact:

Danielle M. Locke, MPA
Gift Planning Officer
Community Foundation of Lorain County
9080 Leavitt Road
Elyria, OH 44035
Phone: (440) 984-7390

GiftLaw Access

GiftLaw Benefits

The Community Foundation of Lorain County is pleased to offer access to GiftLaw for professional advisors. GiftLaw is a valuable gift planning tool for attorneys, accountants, insurance professionals, investment advisors, and other professionals interested in charitable giving. 

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Visit GiftLaw

The GiftLaw site contains weekly updates on private letter rulings, tax cases, and legislation, and monthly articles on charitable planning topics. Contact our Advancement Officer to receive a complimentary weekly edition of GiftLaw in your email or click here to visit our GiftLaw page.

Connect with Us

Danielle-Locke
Danielle M. Locke, CAP, MPA
Gift Planning Officer
 

Through our efforts, the Foundation seeks to improve the quality of life and to instill a greater sense of unity in Lorain County.

We support innovative programs and act as a catalyst in identifying problems and sharing information with individuals, other foundations, and corporations.

We exercise and promote leadership in meeting the changing needs and opportunities in the community.

We value integrity, which we define as always doing the right thing.

We believe in purposeful and collaborative community leadership.

We believe the perpetuity of our efforts are linked to sustainable practices.

We value community, which we define as putting self aside for the betterment of the whole.

We provide a permanent instrument for receiving and managing charitable gifts and bequests.

We value excellence, which we define as providing the best service to all.

We work to mobilize individuals to become active partners in building a better community.

We believe strategy, creativity, and adaptability are keys to thriving in a constantly changing world.

We believe integrity is our greatest asset and value trust earned with fiscal responsibility, ethical stewardship, and transparency

We believe access to the CFLC should be fair, inclusive, and equitable.