Think it’s hard to become a philanthropist? Think again! Starting a Fund at the PineBelt Community Foundation is very easy! And by doing so, you can enhance the quality of life in your community for generations to come.
The PineBelt Community Foundation – Your Values – Your Legacy – Your Community.
This is what you need to do to establish a fund:
Six simple steps will get you started to leaving your legacy.
- Decide what issue / organization(s) you wish to promote or support. For example, I want to help homeless people, or I want to help my church, or youth, or the Animal Shelter.
- Decide which kind of fund works best for you or your organization. I want to support a particular charity (a Designated Fund). Or, I prefer flexibility and I want to be involved in choosing the beneficiaries each year (a Donor Advised Fund). Or, I want to start a scholarship fund. We will be happy to explain the options and help you choose.
- Choose what you would like to call your Fund.
- You can start a Fund in your name (the John and Mary Doe Fund) or you can name someone else you would like to honor. (e.g., the John and Mary Doe Fund).
- You may name your fund after the organization itself (e.g., ARC, United Way, DuBard, Westminster Presbyterian Church, etc.).
- Decide what asset(s) you wish to give to the Fund. The Community Foundation accepts gifts of cash, securities, life insurance, and real estate. The Foundation also accepts memorial gifts, charitable remainder trusts and charitable gift annuities. We will work with you to simplify transfers of assets.
- Decide on the method for making annual disbursements.
___ Do you want a Spenddown Fund? The balance can be spent down to zero at per your instructions.
___ Do you want an Endowed Fund? Endowed Funds are pooled with other Foundation endowments for a better rate of return. Funds will be disbursed annually per your instructions (disbursements will be made after the Fund has accumulated $10,000). You will be asked to choose from the following Options for disbursements:
- Disbursements shall be made in accordance with the Foundation’s current disbursement policy. Presently, we distribute 4% of the net asset value of the Fund. This provides a stable and predictable flow of grants, irrespective of the stock market. The Investment Committee reviews and sets this annually; OR
- Distributions shall be made with a view to preserving the corpus of your Fund, which means that disbursements are made only from the INCREASE—the income earned and the appreciation in the value of your Fund. Under this option, if your Fund decreases in value due to a bear stock market, there may be no distributions that year. Conversely, if the market is favorable, there will be more money to distribute; OR
- Donors may give specialized instructions to the Foundation.
- Execute the Fund Agreement. You must complete the documents we provide. When our Funds Acceptance Committee approves it (usually within a week), you are ready to go.
It’s that easy!
Note: Once a Fund is established, anyone may add to it at any time in any amount.
For more information, please contact Theresa Erickson, Executive Director at 601.583.6180 or email at firstname.lastname@example.org.