Establishing an endowment fund requires a minimum of $10,000 over five years. There are no set-up fees, and it can be done quickly using a simple fund agreement. The Foundation assesses a modest one-percent annual charge to administer a fund and support its work within the community.

To establish a fund, follow these simple steps:

1. Determine your charitable purpose or intent.

2. Select the type of charitable fund that best supports your purpose. Our staff can outline your options and discuss the advantages of each.

3. Choose a name for your fund. You can use your name, the name of a family member, or a name that represents your favorite cause. You also have the option of choosing a name that allows you to remain anonymous.

4. Depending on the type of fund you establish, you may designate current fund advisors (such as your spouse and yourself) and successor advisors (such as your children). This information and the material noted above will be included in the fund agreement prepared by Foundation staff members.

5. Sign the simple fund agreement.

6. Make an establishing gift. See Types of Funds for the types of contributions you can make.

7. Receive a tax deduction (to the maximum extent allowed by law) at the time the fund is established and each time that subsequent contributions are made to the fund.

We are available to help you with any and all aspects of your giving experience. If you have further questions about becoming a community foundation donor, please contact us. Please see the Fact Sheet for Nonprofit Organizations if your nonprofit is looking to establish a fund with CFRBA.