These are frequently asked questions by Oakmonters. Please use the "contact us" part of our website if you have further queries or comments about the OCF. The Directors are all available to answer any specific questions you may have. Please feel free to send any inquiries you may have to:
The Oakmont Community Foundation, 6637 Oakmont Drive - Suite A, Santa Rosa, CA 95409.
1) Why can't I make a donation directly to the Oakmont Village Association (OVA) to support educational activities here in Oakmont?
You can, but these donations cannot be claimed on your tax returns as a charitable contribution. The OVA is a non-profit 501 (c)(7) under the Internal Revenue Code, and as such, donors cannot derive any tax advantage on their individual returns.
2) What is the OCF?
The Oakmont Community Foundation is an IRS approved 501 (c)(3) corporation that exists to fund and support educational purposes and charitable services within the Oakmont community. Some of the organizations obviously would qualify like Music at Oakmont and the Computer Learning Center. Many, even most, of Oakmont's diverse clubs might possibly qualify if the usage would be for totally educational or beneficial purposes.
3) What is a 501(c)(3) Corporation?
It is a corporation exempt from Federal income taxes under this named section of the Internal Revenue Code. The OCF applied for and received this classification as a public charity. Contributions to the OCF are tax deductible on both Federal and State income tax returns. As always, individual situations may require that donors consult with their tax adviser.
4) How and when did the OCF start?
The OCF began as an idea in Oakmont's Long Range Planning committee. A member of the committee was assigned to investigate whether it was really possible to form such an organization. Discussions followed with an attorney and accountant. The idea seemed promising, especially because of the sheer size of the Oakmont community; we have over 4500 residents. Much smaller associations probably would not pass muster with the IRS.
5) Is the OCF connected to or part of the Oakmont Village Association?
No. The OCF is a separate, independent California non-profit benefit corporation with a different mission and bylaws. While the Directors of the OCF are currently all Oakmont residents, the OCF bylaws allow non-residents to serve on the Board if in the future that is deemed appropriate.
6) How were the Directors of the OCF selected and How Much are They Paid Annually?
An ad hoc committee created a list of Oakmont residents who had certain experience and skill sets that seemed appropriate to participating in the formation and running of a charitable non-profit here in Oakmont. From this list those who could and desired to make the commitment of time and effort on a volunteer basis were selected.
7) Do I have Any Say as to how my Donation is to be Used?
Your donation may be directed to one or more of the Foundation's three funds:
1. The general fund for use where and when needed as determined by the OCF Board;
2. The dedicated fund that supports a specific qualified educational and/or beneficial activity; or,
3. You may wish to support an endowment fund to sustain your giving over time.
Lastly, donations may be made anonymously or in the name of another individual or group or as a memorial to a past friend or relative. Please consider the Oakmont Community Foundation when making your estate plans.
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