- What is St. Joe Community Foundation?
- Why was it created?
- What specific area does the Foundation serve?
- How is Foundation funded?
- Who pays the Foundation and how much do they receive?
- Why did JOE create this particular funding source?
- Do I have a say in grant making?
- Are these contributions tax deductible?
- What does the Foundation invest in?
- Where can I learn more about the grants the Foundation has made?
- Who administers the Foundation?
- How are funding decisions made?
- Who are the Board of Trustees?
QUESTIONS & ANSWERS
1. What is St. Joe Community Foundation?
Established by The St. Joe Company (JOE) in 1999, The St. Joe Community Foundation, Inc., (Foundation) is a private 501 (C) 3 organization that is dedicated to enriching the quality of life of the people who live, work and play in Northwest Florida. Back to Top>
2. Why was it created?
The Foundation grew out of the recognition that the communities and resorts that JOE is creating will have an immediate and long-range impact on the Northwest Florida region. The Foundation exists because of JOE’s commitment to join with others in Northwest Florida to protect the unique characteristics and qualities of life for the people who call this area home. Back to Top>
3. What specific area does the Foundation serve?
The Foundation currently serves Bay and Walton Counties in Florida and is linked to those counties in perpetuity through its unique funding source. Back to Top>
4. How is the Foundation funded?
Funding for the Foundation comes from a percentage of the selling price in specific communities developed by JOE. Bay County’s communities include Breakfast Point, Hawks Landing, Oakmont, Palmetto Trace, and The Hammocks. Walton County’s communities include The Retreat, WaterColor, WaterSound Beach, WaterSound Origins and WaterSound West Beach. Back to Top>
5. Who pays the Foundation and how much do they receive?
JOE pays the Foundation ½ of 1% (.005) of the sales price of the initial sale of property. Subsequent sales of the property generate a payment through recorded deed covenants, requiring the buyer to pay a Transfer Fee to the Foundation at closing. Back to Top>
6. Why did JOE create this particular funding source?
JOE wanted to establish a long-term future commitment to the region. The Foundation’s investments in the quality of life in the region can be seen as adding value because good schools, hospitals, conservation and cultural experiences are important factors that make communities stronger. Back to Top>
7. I paid a transfer fee to the Foundation when I purchased my property. Do I have a say in grant making?
We welcome suggestions from all community members concerning potential grant recipients. Please contact Janet Greeno, Executive Director, at 850-231-7402 or via email at email@example.com to discuss your grant suggestions or grant application. Back to Top>
8. Are these contributions tax deductible?
Each individual’s tax situation is different. You need to consult with your own tax adviser or the IRS to determine if the Transfer Fee is tax deductible by you. Back to Top>
9.What does the Foundation invest in?
The Foundation invests its funding toward the infrastructure of the communities in Bay and Walton Counties through grants to primarily nonprofits. The main focus of each grant is on strengthening education, improving healthcare, protecting the environment and supporting local cultural interests in these counties. Back to Top>
10. Where can I learn more about the grants the Foundation has made?
The Foundation’s website, www.Joefoundation.com, lists all current grants. A current list runs continuously at the bottom of the Foundation’s main page. And a listing of current grants is also located under the “Regional Investment” tab under the “Recent Contributions” tab.
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11. Who administers the Foundation?
The Board of Trustees oversees the grant making decisions at scheduled Board meeting and the Executive Director oversees the administrative decisions for the Foundation. Back to Top>
12. How are funding decisions made?
The Board of Trustees are guided first by the IRS requirements for gifting by 501(C)3 organizations. Based on those requirements they have established guidelines and criteria to determine the viability of applications. Guidelines and the application process are available by contacting the Foundation’s Executive Director, Janet Greeno, at 850-231-7402 or via email at firstname.lastname@example.org. The Foundation’s guidelines are also on the Foundation’s website, www.JoeFoundation.com, under the “How To Apply” tab on the Foundation’s website’s first page. Back to Top>
- Ken Borick, Board Member and General Counsel, JOE
- Rhea Goff, Vice President and Chief Administrative Officer, JOE
- Jorge Gonzalez, Chief Executive Officer, The St. Joe Company
- Janet Greeno, Executive Director, The St. Joe Community Foundation