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GiftLaw Pro Home   >  Chapter 7 - Charitable Organizations  >  7.1 Public Charities  >  7.1.7 Community Foundations  >  Basic Quiz

Basic Quiz - 7.1.7 Community Foundations

1. A community foundation is a type of public charity.
           
2. Community foundations are unable to receive funds from a supporting organization.
           
3. All community foundations provide funds for community environmental preservation.
           
4. Donor advised funds are not offered by community foundations.
           
5. Targeted funds are funds used by a community foundation to assist a charitable venture selected by the donor.
           
6. Field of interest funds are much like targeted funds in application.
           
7. A community foundation may offer scholarship funds to attract donors.
           
8. Scholarship funds may be used by a prospective student for uses other than education.
           
9. Community foundations may elect to set aside restrictions attached by a donor on a gift's use if the community foundation deems the restrictions unnecessary.
           
10. Most community foundations simply deposit received funds into a savings account and distribute funds out of the account.