Set Up Your Own Fund
As we work with you, we’ll help you consider these ingredients to set up your own personal fund.
What are your charitable and financial objectives? What issues or causes mean the most to you? How much involvement would you like? Remember, not all of your grants need to be “locally” directed. We’ll work with you to include all of your charitable giving as you prefer.
What asset you will use to create your fund? Gifts of cash, securities (publicly traded or closely held) or real estate can be accepted by the Community Foundation to set up a fund.
What would you like to name your fund? Many donors choose a family name, but you can use any name that is meaningful to you.
What type of fund that matches your charitable interests? Our staff will help you identify what type of fund fits your vision! But, it helps to understand how broad and flexible we can be as a giving vehicle with our array of donor crafted funds. Visit our Library for sample agreements.
Types of Funds
We consider a fund fully “endowed” once it reaches $10,000 ($25,000 for a scholarship fund). However, many of our philanthropists start a new fund by creating an Acorn Fund, building to the endowed level over a five-year period. An initial gift of $2,000 or more is necessary to “seed” any of our funds. And, grantmaking can begin immediately once your Acorn fund is seeded with our “pass through” grants system.
Donor Advised Fund
A donor advised fund allows you to enjoy ongoing involvement in grant distributions from your fund. You bring specific grant recommendations to the Community Foundation for consideration. Donor advised funds closely mirror private family foundations, with significant tax and administrative advantages.
When you establish a General fund, you leave decisions about the use of your gift to the Community Foundation; trusting the Community Foundation’s knowledge and reach within the community to determine what needs are most pressing from year to year.
We work with area donors to create a causeway for collective grantmaking based on the vision and values of the group. A portion of each gift is dedicated to building endowment as well as immediate grantmaking.
Name a specific charity, or charities, to benefit from your grantmaking. Should a designated organization cease to exist, the Community Foundation has the responsibility and authority to reallocate grants to another agency that most closely reflects your original vision.
Field of Interest Fund
Want to target an issue of need rather than a specific charity? You define the “area of interest” and the Community Foundation distributes the funds based on your targeted interest plan.
Charities often wish to create long-term endowments that will benefit their mission and purpose. The Community Foundation provides an excellent vehicle to ensure endowment gifts are carefully and diversely invested and managed.
Dedicate a fund’s purpose entirely to helping students study and advance their education. The Community Foundation works with community volunteers to interview students and make award recommendations, or, can work with you to form your own selection committee.
A shell agreement is easy, simple, and non-binding paperwork that ties a future planned gift from your estate or other testamentary gifts with your personal philanthropic vision. The agreement makes it clear to the Community Foundation how you want a future gift to be used, and can be easily revised at any time until the gift is realized. While not in any way required, the Community Foundation staff frequently works with your professional advisors to complete a shell agreement.
Ready to get started? Use the form below, call (703) 779-3505 or email us
Through the Community Foundation, you can help your community in many ways:
You can set up a fund in your name or anonymously, contribute funds to it, add to it as you wish, and recommend which charitable organizations you want to support each year.
You can set up a permanent endowment fund that can grant monies each year to a cause or organization of your choice.
You can make an outright donation to Community Foundation to its permanent Community Fund or General Fund.
You can contribute to any Community Foundation funds that support your charitable interests.