Types of Funds
There are a variety of ways to structure a legacy to make a passion an enduring gift to the residents of Montgomery County. The endowment fund can memorialize or honor someone or a family who has been important to the donor or the community. Take a minute to consider the following options and contact Julie Martineau at jmatineau@mccfoundation.org to begin discussions.
Unrestricted Fund - Address Changing Community Needs
Overview: Unrestricted gifts to an endowment addresses a broad range of community needs – even those that cannot be anticipated at the time of the gift. These funds allow the Community Foundation to make grants in your name to effective organizations that are advancing change in areas of priority within Montgomery County. Click here for the Unrestricted fund worksheet.
Ideal for: Individuals, families or businesses motivated by an opportunity to combine resources with the Community Foundation to support innovative, sustainable solutions that address the community’s most pressing needs.
Minimum initial commitment: $15,000 for a named fund which can be paid out at $3,000 per year for 5 years. However, a gift of any size can be added to an existing Community Endowment to further enhance the Community Foundation’s community grants program.
Field of Interest Fund – Support Your Favorite Cause
Overview: Field of interest funds focus your giving on a particular area of interest like education or health care or a specific geographic area in Montgomery County. Through our competitive grants program, we will identify organizations that are having the greatest impact in the area of importance to you. Click here for the Field of Interest fund worksheet.
Ideal for individuals, families or businesses who are passionate about a cause but trust the Community Foundation to know the most effective organizations doing good work in that area.
Minimum initial commitment: $15,000 for a named fund which can be paid out at $3,000 per year for 5 years. We also welcome gifts of any size to any existing field of interest funds. In particular, we highlight the following funds created to enhance the Community Foundation’s impact in Montgomery County:
- Arts & Culture Fund
- Disadvantaged People and Vulnerable People of Montgomery County Fund
- Environmental Preservation and Sustainability Fund
- Foster Hope for Abused and Neglected Children
- Health and Wellness Fund
- Long Term Disaster Recovery Fund
- Montgomery County Adult Literacy Fund
- Veterans Fund
- Youth and Children Fund
Donor Advised Fund – Organize Your Giving
Overview: Donor-advised funds offer a flexible, convenient and cost-effective way to organize your giving. Your gift qualifies you for an immediate tax deduction, but you can recommend the organizations you wish to support during the annual grant process. You determine the organizations and the amount and we take care of the paperwork. Click here for MCCF Fund Creation Worksheet Donor Advised .
19 Questions about Donor Advised Funds 2020 give you the answers to the most common questions related to establishing a fund, investments and fees, and grantmaking.
Ideal for:
- Donors who wish to remain active in their giving, without the paperwork.
- Donors who want the flexibility of recommending the organizations they wish to support or partnering with the Community Foundation and other donors to support high-impact initiatives.
- Individuals who wish to involve future generations of their family.
- Private foundations seeking to fulfill their minimum 5% payout or those seeking a simple alternative.
Minimum initial commitment:$15,000 for a named fund which can be paid out at $3,000 per year for 5 years.
Agency Endowment – Create Sustainable Resources
Overview: Agency endowments are a simple and efficient way for nonprofit organizations to build an endowment and ensure long-term sustainability for their organization. Organizations have the opportunity to recieve a disbursements once a year and are not required to take it every year. Click here for the Agency Endowment worksheet.
By working with the Community Foundation, we can help you develop planned giving strategies and take care of fund accounting. You also become part of our investment pool.
Ideal for: Nonprofit organizations that wish to build their reserve funds and create a reliable stream of income.
Minimum initial commitment: $15,000 for a named fund which can be paid at $3,000 per year for 5 years.
Designated Agency Fund – Support Specific Organizations
Overview: Agency endowments are a simple and efficient way for nonprofit organizations to build an endowment and ensure long-term sustainability for their organization. Organizations have the opportunity to recieve a disbursements once a year and are not required to take it every year. Click here for the Agency Endowment worksheet.
By working with the Community Foundation, we can help you develop planned giving strategies and take care of fund accounting. You also become part of our investment pool.
Ideal for: Nonprofit organizations that wish to build their reserve funds and create a reliable stream of income.
Minimum initial commitment: $15,000 for a named fund which can be paid at $3,000 per year for 5 years.
Scholarship Fund – Support Student Education
Overview: By establishing a scholarship fund at the Community Foundation, you can help local students pursue their dreams of higher education or technical school to secure a great job after high school. We will work with you to determine criteria that is meaningful for you. Scholarships funds can be tailored to a certain geographic area or school, specific fields of study or students of a particular heritage. They can also be merit or need based. Click here for the Scholarship Fund worksheet. Click here for the Donor Advised Scholarship fund worksheet.
Our staff will oversee the entire process from distributing the applications to dispersing the funds. Recipients are based on the recommendation of our volunteer review committees.
Ideal for: Donors who wish to memorialize a loved one or give back to their own community or alma mater.
Minimum initial commitment: $15,000 for a named fund which can be paid at $3,000 per year for 5 years.