Creating a New Fund at the Adams County Community Foundation
Creating a new charitable fund with the Adams County Community Foundation is quick and easy.
Following are six simple steps to guide you in the creation of your own charitable fund.
What are my Goals?
What do you want to achieve through the creation of a charitable fund? Are you interested in providing support where it’s needed most? Or you may wish to create a fund that will support an area of interest like education, the arts, historic preservation or animal welfare. With such funds, the Community Foundation will be responsible for responding to the most urgent charitable needs across Adams County or in your area of interest in the name of your fund, forever.
Do you have a favorite charity or program that you would like to support? You can also choose to have the Adams County Community Foundation make an annual grant from your fund to support one or more nonprofits here in Adams County or across the country. Permanent recognition is an important benefit provided by the Community Foundation. By creating an endowment fund, your fund will receive recognition in perpetuity.
What are my Options?
You can realize nearly any charitable intent by choosing from the variety of fund types offered by the Community Foundation. While most funds are created as “endowment funds” (permanent resources for the community) we can also create “pass-thru funds” (temporary charitable funds that close upon the fulfillment of their charitable purpose) in certain situations. Endowment funds are permanent funds that distribute a percentage of the fund’s value for those charitable purposes set forth in the written agreement between you and the Community Foundation. The name of the fund will receive perpetual recognition as all grants will carry the name of the fund. A gift of $25,000 or more will enable a fund to be classified as an endowment.
What Type of Fund Should I Consider?
Once you have determined your goals, we will help you consider one or more of the following fund types.
- Fund for Adams County
- Field of Interest Fund
- Donor Advised Fund
- Designated Fund
- Agency Endowment
- Scholarship Fund
What Should I Name My Fund?
A fund’s name is a permanent part of that fund. Whenever a grant is made from a fund, that grant will be recognized by the fund name. Choosing a name is an important consideration when creating a fund. The following examples may be helpful to you.
- Name of the individual establishing the fund (John Smith Fund for Adams County)
- Name of the couple establishing the fund (John and Jane Smith Fund for Education)
- Name of the family represented by the donor (Smith Family Fund for Youth)
- Name of a favorite charity or charitable purpose (Gettysburg Healthcare Fund or Adams County Fund for the Arts)
- Name of a deceased loved one (John Smith Memorial Fund for Adams County)
What is the Best Way to Make a Gift?
Please review our page “What and How to Give” when considering the type of asset and when you would like to give. You could also consider using closely held stock or the proceeds from a Private Foundation to create your fund.
What Do I Do Now?
After you have considered the possibilities, come talk with us. It’s our pleasure to help you design the details of your charitable fund as part of your overall charitable plan. Please contact us today so we may answer your questions or provide additional information.
For more information e-mail Ralph Serpe or call 717-337-0060.