Creating a Charitable Fund – Is it Right For You?
Let us be your partner in charitable giving.
Establishing a fund is a great way to always be involved with, and remembered for, your community investments. Most often, our funds are created as endowments and carefully invested, generating income and growing the principal to do good work forever. We offer a variety of fund types, with a minimum gift of $10,000 except for a scholarship fund which requires $25,000 to start. The process is simple.
Contact Lindsey Costello, Donor Relations Manager, at firstname.lastname@example.org or 315-731-3726.
Our staff will help you find a way to fund your passion
Individuals who wish to pursue a charitable passion, honor a loved one, or establish a family tradition of giving can design a fund to suit their needs. We offer a variety of fund options:
- Unrestricted Fund. This is the most flexible type of fund. The fund allows The Foundation to make grants that address the most important needs of the community as they evolve.
- Designated Fund. You select one or more specific charities to receive ongoing support in the form of regular grants from the fund.
- Scholarship Fund. You create one or more scholarships and select the award criteria and the school that will benefit. We make sure the criteria are met and all legal rules and procedures are followed.
- Field-of-Interest. You identify a general area of interest (such as children or health or the environment) or you may select a geographical area (city, town or region) to support. The Community Foundation makes grants from the fund that match the focus area.
- Donor-Advised Fund. You create a fund from which you (and/or successors you choose as advisors) recommend grants to favorite charities. You suggest how much each shall receive and when. It is a hands-on fund that lets you lead the grant funding. We are your partner in the process.
Our funds are created with a minimum gift of $10,000, except for a scholarship fund which requires $25,000. An “acorn fund” can be started with an initial gift of $5,000 ($10,000 for a scholarship) and subsequent gifts to reach the minimum. Most of our funds are created as endowments, designed to last and grow in perpetuity. They make grants based on a spending rate established by our Board of Trustees and in accordance with federal and state rules for endowments.
Establish a fund in your name
Any of these funds can be established in your name, or in the name of your family, your organization, or anyone you wish to honor. All grants distributed from the fund you establish — today and in the future — are then awarded to charities in the name of that fund. It’s a great way to always be involved with, and remembered for, your community investment.
To view a list of existing funds at The Foundation, click here.