What is a Designated Fund?
Establishing a Designated Fund provides you a wonderful way to give back to one or more specific organizations that have touched your life.Your gift provides more than just funding - your favorite organization will benefit from The Community Foundation's investment stewardship and ability to manage endowment funds. Because The Community Foundation handles the details, the nonprofit organization's staff is freed up to focus on its mission. And, The Community Foundation can facilitate even the most complex forms of giving, such as planned gifts or gifts of appreciated stock or real estate. You can add to the fund at any time. If the organization you select ceases to exist or changes in mission, the fund can be redirected so that it continues to address your charitable intent.
How it Works
- You identify an organization that you wish to benefit.
- You make a gift to The Community Foundation - you can give cash, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name or in the name of the nonprofit organization you choose.
- You receive tax benefits in the year your gift is made.
- Our board issues grants to the designated nonprofit organization.
- We handle all the administrative details, including managing specific qualifications that you may establish for grant disbursements.
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.
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: