Starting Your Own Fund
The most exciting way of giving through the Community Foundation is to start your own fund. A family fund is like having your own foundation, only with none of the work and all of the joy of making grants to worthwhile organizations.
Starting a fund is simple—flexible—fast—easy. These are the steps:
1) Name your fund.
- A fund is usually named for the donor, donor’s family or as a memorial to a friend or family member.
2) Decide on the charitable purpose of your fund.
- Our most popular funds are donor-advised funds. This type of fund allows you to participate in the grant-making process each year by suggesting grant recipients.
- You may also choose to dedicate your fund to the support of one or more specific charitable organizations or to a field of charitable interest e.g. performing arts or needy children.
3) Make a donation to open your fund.
- You can use cash, securities, real estate or other property.
- There is no minimum amount as long as you make a commitment to bring the fund to $5,000 within five years.
4) Sign a one page document setting up your fund.
That’s all there is to it. Once your fund reaches $10,000, charitable grants will be made annually.
You can find a list of local individuals and families who have established donor-advised funds here and a list of funds started to benefit particular organizations or fields of charitable interest here.