What is a Preference Fund
By establishing a Preference Fund, your gift addresses a broad range of local needs - including future needs that often cannot be anticipated at the time your gift is made. While you direct the preference fund through the language you use to establish it, the maintenance is left up to us. The Community Foundation’s professional staff continually monitors changing community needs so that you can be sure grants made in the name of your fund have the most impact in your preference area and create your personal legacy of giving. You can add any amount to the preference fund you establish at any time - and so can others who share your interests in the community. Your endowed gift becomes a permanent community funding resource.
How it Works
- You identify an area of personal interest as broad or narrow as you wish.
- You make a gift to The Community Foundation during your lifetime or through a bequest in your will. You can give cash, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name, in the name of your family or business, or in honor of any person or organization you choose.
- You receive tax benefits in the year your gift is made.
- Our professional staff evaluates needs in your area of interest that would be most impacted by grants from your gift.
- Our board issues grants in the name of the fund you establish (if you prefer, grants can be made anonymously).
- We handle all the administrative details.
- Your gift can be placed into an endowment that is invested over time. Earnings from your fund are used to make grants addressing community needs. Your gift - and all future earnings from your gift - is a permanent source of community capital, helping to do good work forever.
- You receive updates on the impact your gift is making in our community.
Most charitable gifts qualify for maximum tax advantage under federal law. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact The Community Foundation at 203- 777-2386.