The other day, after scrolling through Netflix for 20 minutes, I realized that we live in age defined by the paradox of choice. It seems the more choices we have, the more our imaginations run wild stifling our ability to make a choice.
The kind of philanthropy we steward at the Community Foundation is less about choosing a fund type and more about matching our fundholders’ philanthropic interests and their financial circumstances with the type of fund that best suits their needs. We do this by asking our fundholders the right questions to discover their philanthropic goals. Because the process of setting up a fund at the Community Foundation is individually customized, this allows us to provide a multitude of fund types, which can stretch the reach of our fundholders’ philanthropic impact.
This fact is evident by doing a simple cross-section of some of the potential new funds at the Community Foundation. In the last 30 days, I have worked with both corporations and individuals who have expressed interest in establishing Scholarship Funds. Potential Legacy funds will focus on supporting the arts and veteran organizations. A local business that values community engagement and philanthropy is interested in joining our Corporate Philanthropy Partnership program. Many of our Professional Advisors are referring clients to open Donor-Advised and Designated Funds, perhaps to mitigate additional income from an IRA while impacting their favorite charities. The bottom line is: whatever your charitable interests are, there is a fund that can serve you.
If you’re interested in setting up a charitable fund with the Community Foundation, here are a few things to consider:
- Think about the charitable causes important to you. Funds at the Community Foundation support the broadest range of charitable needs, so whatever your idea, bring it to the table.
- Review our types of funds. It takes an initial gift of $25,000 to establish a Donor-Advised Fund and $50,000 for a Scholarship Fund and/or Endowed Fund.
- Review our Types of Gifts and decide how and when you want to give. You can start a fund with cash, securities, real estate; or, a deferred gift using a vehicle such as a trust, insurance policy or charitable remainder unitrust. Feel free to consult your professional advisor for information about tax advantages.
- Take action and call me at 775-333-5499 to start a conversation. Our Development team is here to help.
- After discussing your goals and options, we’ll draft the fund document (a simple agreement outlining the charitable goals of your fund and our policies). Once the document is signed and we’ve received your charitable gift, your fund will be established!
By the end of this process, the fund that is right for you will be so clear that it won’t seem like a choice at all. You’ll also find that in the time it takes you to pick something to watch on Netflix, you will have set up a fund that will impact your community in ways you’ve always dreamed of. I
Ginny-Harding Davis, Chief Advancement Officer
Connecting people who care with causes that matter