© Copyright 2020 Oakmont Community Foundation
Frequently Asked Questions
Please contact us here if you have further queries or comments about the OCF. The Directors are all available to answer any specific questions. Please send any inquiries you may have to:
The Oakmont Community Foundation
6637 Oakmont Drive - Suite A
Santa Rosa, CA 95409.
1) Why does a group need to be officially approved by the OVA to qualify for an OCF grant?
The official recognition by the OVA assures the OCF that the requesting organization is indeed based in Oakmont, is comprised of Oakmont citizens, and whose efforts benefit Oakmonters.
2) 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.
3) Why does a group need to have a treasurer and its own bank account?
A dedicated bank account and treasurer assures the OCF that all group funds are for the use of the group and not specific individuals.
4) 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. Grant recipients include groups like Music at Oakmont and the Computer Learning Center. Many, even most, of Oakmont's diverse clubs might also possibly qualify if the funds requested would be for exclusively for educational or beneficial purposes.
5) 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.
6) 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.
7) 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.
8) 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.
9) May I stipulate how my donation will be used?
You may direct your donation to one of the following types of OCF funds:
Note that your donation may be made anonymously. Also, you may stipulate that your gift may be in honor of, or in memory of, a person or group of your choice. Please consider the Oakmont Community Foundation when making your estate plans.
Feel free to contact us by emailing any Board member or send a general email to us at email@example.com. Or drop us a note in our mail slot at the OVA office.