Starting a Fund
Starting a fund at the Shenandoah Community Foundation is quick and easy. It can be done by you on behalf of your client, or you may refer your client to us directly.
Your client will receive a tax deduction at the time the fund is established and when additional contributions are made to the fund.
The Process
- Identify your client’s charitable purpose(s) or intent(s). This can range from highly specific – for example, an alma mater or specific nonprofit organization– to a field of interest such as “children’s welfare” or “family abuse prevention” – to general and unrestricted in scope, such as “general charitable purposes.”
- Select the type of fund that best fulfills that purpose or intent. Consult the Types of Funds section of this website for details.
- Work with the Foundation to fine tune a simple fund memorandum of understanding. Our staff and board will help you to complete this official document that makes your clients’ intentions clear.
- Name the fund. Fund names may take virtually any form – the donor’s name or family name, a cause-related name, or something else entirely. Donors also may choose to remain anonymous. Depending on the type of fund established, your client may designate current fund advisors, such as him/herself, and successor advisors such as his/her children. This information will be included in the governing document (memorandum of understanding).
- Activate the fund by making an establishing gift. See the “Donors” section of this website for details.
Once the fund is established, your client can:
- Add to the fund at any time, in any dollar amount.
- Specify how grant disbursements should be acknowledged. Donors may make a grant using their fund’s name or they may remain anonymous.
- Make grants to any nonprofit organization in the United States. (Donor-Advised only)