Establishing a Fund
The community foundation works closely with individuals, their professional advisors and businesses to facilitate charitable giving. One of the many ways donors can support their community is by establishing an endowment fund within the Foundation. For a donor, creating a legacy fund is to touch the lives of his or her neighbors and future generations to come. For the community, a legacy fund provides continual assistance for programs and services that promote and sustain a strong community.
The foundation offers several types of funds, each designed to present something different to our donors that will suit their philanthropic objectives. For more information on the types of funds the foundation manages click here.
Establishing a fund at the foundation is an excellent alternative to creating a private foundation, cutting down on expensive overhead costs and benefiting from the foundation's qualified and trusted investment team.
Setting up a fund at the community foundation is actually very simple and straightforward. The donor chooses the type of fund.
- The donor chooses the type of fund
- The donor chooses a name for the fund - it can be their name or the name of someone special to them, making them a permanent part of our community or it can remain anonymous. For example, The John and Jane Smith Family Fund, The John and Jane Smith Foundation or The Better Future Fund.
- A fund agreement is completed between the donor and the foundation.
- The donor chooses the type of gift to make.
- The donor receives a tax benefit in the year the gift is made.
