Establish Your Fund
It is 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 6 simple steps:
Step 1
Select one of the types of charitable funds that best supports your purpose.
The Foundation offers the following six types of funds:
1
Donor-Advised Fund
2
Designated Fund
3
Field of Interest Fund
4
Scholarship Fund
5
Agency Funds
6
Endowments
Step 2
Determine the assets you will donate
The Foundation can accept a wide variety of assets, including: Cash, Securities, Real Estate, Bequests, Retirement Plan Assets, Personal Property, and Life Insurance.
Step 3
Select a name for your fund
You can use your name, your family name, the name of a family member, a favorite cause, or choose a name that allows you to remain anonymous.
Step 4
Determine Fund Advisors
Depending on the type of fund you establish, you may designate current fund advisors such as yourself and spouse, and successor advisors such as your children.
Step 5
Complete a simple governing document
If you have the answers to the four questions below, you’re ready to go! The staff will help you to complete a simple document that incorporates all the specifics you have determined based on the options above.
- What type of fund best suits your needs?
- What type of asset will you be donating?
- What will you name your fund?
- If you are setting up a donor-advised fund, who will be the designated advisors?
Step 6
Enjoy giving through your fund
Once your fund is established you can:
- Add to the fund at any time in any dollar amount.
- Specify how grant disbursements are to be acknowledged – whether in the name of the fund or anonymously.
- If you’ve established a donor advised fund you may recommend distributions to charities, locally or throughout the United States.
All information regarding tax advantages, etc. is deemed reliable but is not guaranteed as it may not pertain to your specific situation. A review by your accountant, lawyer or other professional will determine the overall effect of any financial decision you may be considering.
Contact us below to start a conversation on establishing your fund with The Central Texas Community Foundation