Establish a Fund

Once you've decided to address a new or existing need in the community, the next step is to decide which type of fund best fits your situation and is one that can help you meet your goals. To offer some food for thought, here are a few ideas:

• A fund can be established to address a short-term purpose; or it can be set up to begin a legacy that will last forever.
• The fund can be for a special purpose; or it can be flexible to meet several charitable interests.
• Your fund can be started with a one-time gift; or it can continue to grow by adding to it over the years, or through a bequest in your will.
• The type of fund chosen should ensure that you receive the maximum tax advantage while providing the greatest benefit to the charity of your choice. We'll work with your tax advisors to help you choose the type of fund that best fits your circumstances. See the Types of Funds link.
• The name of your fund is a personal choice. It can honor your family or a family member. It can carry your own name, the name of your business, or the name of your special interest group. It can be named for the cause of charity you want to support, or it can be a memorial fund named in honor of a friend or loved one. The choice is yours.
• You can choose to stay closely involved in the grants your fund provides. Or you may provide broad guidelines, or no guidelines, to the grants committee. You may also remain anonymous if you choose.
• Your fund can be established with whatever type of asset you desire, including cash, check, securities, real property, life insurance, bequest, charitable trust, charitable gift annuity, or any number of other special giving vehicles.
• Once a fund is established, you may make additional gifts to the fund in any amount, whenever you like.

As a community foundation, we offer maximum flexibility and the tools to accomplish whatever purpose you have mind. We would be pleased to discuss your charitable goals with you.

Types of Funds has more information about the kinds of funds you may want to consider to fit your own unique circumstances.