Orange County NC Website
2 <br /> By forming a Community Giving Fund, it would be possible for Orange County to develop <br /> unified communication about dedicated giving to Orange County government. In doing so, it <br /> would become much more readily apparent that gifts are not routed to the County's General <br /> Fund, a longstanding concern of potential donors and arguably a powerful disincentive to giving. <br /> Based on significant investigation and discussion, staff believes the best way to establish such <br /> a fund is by entering into an agreement with the Triangle Community Foundation (TCF), a well- <br /> regarded organization interested in expanding its own activities in the area of local government. <br /> Under the agreement, TCF would establish and manage one or more non-endowed Agency <br /> Funds for the purpose of receiving and holding tax-deductible donations made to Orange <br /> County's Community Giving Fund (see Attachment 1). <br /> As discussed at the October 9, 2012 Work Session, a partnership is the preferred approach <br /> because TCF already has a framework in place for receiving and acknowledging tax-deductible <br /> donations and for managing and investing these funds in different ways depending upon client <br /> choices. Also, working with the foundation is expected to minimize the additional <br /> responsibilities placed on Financial Services staff to administer a Community Giving Fund. <br /> In addition, TCF already conducts its own outreach for its clients to the estate planning <br /> community. The foundation is also capable of receiving, appraising and liquidating real property <br /> for clients through its own real estate foundation. <br /> Since the Board's Work Session discussion, staff has continued its effort to develop an efficient, <br /> effective and accountable framework for the operation of a Community Giving Fund. <br /> Fundamental to this effort are the goals of achieving the most effective manner of coordination <br /> between the County and TCF, and ensuring that the Fund operates as part of established <br /> processes of budgeting, funding and governance in Orange County. <br /> Some significant operational elements are provided in the statement of the rights and <br /> responsibilities of the parties are provided in the proposed agreement between TCF and <br /> Orange County. Others may be summarized as follows: <br /> Fund Organization <br /> • It will be managed by the County Manager and designees including involved department <br /> directors subject to budgetary and governance processes and procedures and the <br /> ultimate authority of the BOCC. <br /> • Giving opportunities shall be delineated such that donations may be dedicated to a <br /> specific pursuit or project and "pass through" the fund as they reach a usable accrual <br /> level. Attachment 2 illustrates this approach. <br /> • County staff will thank donors for their specific donations and may otherwise <br /> acknowledge their contributions. <br /> • Management staff will prepare an annual report and it will be presented to the BOCC for <br /> feedback and direction during the first quarter of each new calendar year beginning in <br /> 2014. <br /> • Donations shall only be used in accordance with their dedicated purpose and they shall <br /> not be used to supplant County funding obligations; and they may be declined if they are <br /> inconsistent with County obligations and commitments and/or create conflicts of interest. <br />