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 and 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.