The Branch County Community Foundation has developed several types of funds to meet donor and community needs. Our staff works with you and your advisor to help you determine which type is right for you. Many donors place no restrictions on how their gifts are to be used. However, you may design your fund around very specific goals. Even if the current intent of the fund becomes obsolete, the Community Foundation will ensure that the fund continues to address emerging community needs.
For more information on the unique structural feature that makes this flexibility possible, click on the link below to learn about the Variance Power that is a part of each of our fund agreements. Any fund can be permanent (endowed), long-term (allowing spending from principal when appropriate), or temporary (allowing funds to be completely spent for grants within a specified time).
Establishing a Fund
It's easy to establish your own named charitable fund and it can be done in less than a day. Working with a member of our staff, and your financial advisor if you choose, you will take these simple steps:
1. Determine the charitable purpose of the fund.
2. Select the type of fund that best supports your purpose. Our staff will assist you in determining which type of fund will help you reach your charitable giving goals.
3. Complete a fund agreement---the governing document for the fund. We will assist you (and your advisor) in clarifying your intentions for now and the future.
4. Select a name for your fund. You can use your name, family name, or the name of a loved one. If that is your wish, you can remain anonymous by selecting a name of the cause or organization the fund supports.
5. Depending on the type of fund you establish, you may designate current fund advisors, and successor advisors. That information is included in your governing document.
6. Make an establishing gift.
7. Receive a tax deduction at the time the fund is established and each time qualifying contributions are made to the fund.