Support Your Passion.
What is a Designated Fund?
Designated endowment funds allow you to select one or more specific nonprofit organizations (i.e. charities, schools, churches) that you wish to provide with an ongoing, reliable source of financial support. If the named organization goes out of business or changes the purpose of its activities, the Community Foundation will ensure that your charitable goals for the fund continue to be met.
Easy: Support the specific causes and organizations you care about most. You make a charitable gift to create a named fund, qualify for an immediate income tax deduction, and the Community Foundation will regularly distribute grants to the charity(ies) you identify when you create your fund.
Flexible: You can make additional charitable gifts to your fund at any time. The Community Foundation can accept gifts of many types of assets, including stock, real property, and closely-held assets. Our professional staff is happy to work with your attorney or financial advisor to help you create your personalized planning strategy.
Personal: This type of fund is an especially effective tool for leaving your charitable legacy. Your fund will reflect the causes and organizations you care about most in our community.
Efficient: The Community Foundation handles all of the administrative tasks associated with achieving your philanthropic goals – from investment options to tracking your gifts and grants and sending you a quarterly statement of activity.
Getting Started is Easy.
You can create a designated endowment fund for a minimum of $10,000 with gifts of cash, stock, or other assets. When you file your taxes, you only need one receipt from the Community Foundation rather than tracking numerous gift receipts. Our knowledgeable staff can help you set up your fund to ensure your philanthropic goals will be met.
More questions? Just call our office and we’ll be happy to help!
Consider a Designated Fund if you:
Seek to create a legacy of support for your favorite charitable organizations.
Want to avoid the administrative hassles of charitable giving – from keeping receipts for tax records to simply remembering to send a check regularly.
Want to support specific organizations regularly and in perpetuity.
Appreciate the efficiency of regular distributions sent by the Community Foundation to your designated charities.