THE PROCESS:
 
      You can establish your own grantmaking or scholarship fund without creating a separate trust or 501(c)3 organization within the Community Foundation. In addition, you can leave a permanent legacy ensuring that your giving during life continues to support the institutions or organizations most important to you. The following steps outline the process:
 
1.      Discuss with the Foundation your areas of interest. Your legal or tax advisor is encouraged to participate in this discussion. These goals are then documented in a fund agreement.
 
2.      Choose the best way to make your $10,000 minimum contribution.
 
-     Give Now: You can establish a fund immediately with cash or assets such as stock or real estate. Your gift is tax deductible with capitol gains taxes avoided on gifts of appreciated assets.
 
-     Give Later: You may establish a fund through a deferred gift such as a bequest in your will or the assignment of a life insurance policy, IRA contract, or trust (charitable lead or remainder trust or charitable gift annuity).
 
3.      Name and design the fund. Unless anonymity is preferred, the name that you select is listed in the Foundation’s reports, grant award letters, scholarship certificates or distribution checks, maintaining your charitable presence in the community. Your fund may have one or more of the following purposes:
 
      The Longleaf Fund: You make an unrestricted gift, joining other donors in responding to the community’s most pressing needs, mindful that organizations or events will change in the years ahead. No minimum.
 
      Advised Fund: A very popular alternative to a private foundation; you are the “fund advisor” making grant recommendations to charitable programs or projects you wish to support. Children are often named as successor advisors to perpetuate a tradition of family philanthropy. $10,000 minimum
 
      Designated Fund: You specify one or more charitable organizations to receive annual distributions providing them continued support. $10,000 minimum
 
      Institutional Endowment Fund: You establish or contribute to an existing endowment fund in support of a specific nonprofit organization or religious institution to provide annual operating support or to provide long-term funding for a specific project. $10,000 minimum
 
      Scholarship Funds: You name and designate a scholarship fund to provide financial assistance to students. You may define eligibility qualifications, the designated colleges and universities, and the targeted group (high school, foster children, single parents, etc.). $50,000 minimum
 
      Field of Interest Fund: You focus funding on a particular charitable area, such as child development, education, animal welfare or other broad area of interest. The Foundation works with you and likeminded donors to achieve outcomes improving the targeted social issue. $50,000 minimum
 
4.      The Foundation provides you with a detailed, written fund agreement for you and your professional advisor to review before signing.
 
5.      You irrevocably gift an asset of your choice to the Foundation, which will generate an immediate charitable tax deduction even if your fund does not make grants or scholarships for one or more years in the future.
 
6.      This gift is invested and managed professionally in a highly diversified portfolio to minimize market risk and maximize returns.
 
    Major Benefits:
 
1.      Your gift will communicate your charitable values and if desired be a perpetual legacy.
 
2.      There are no legal or set-up fees to establish a fund.
 
3.      The fund will be invested and professionally managed in a highly diversified portfolio to minimize market risk and maximize returns.
 
4.      The fund will pay greatly reduced investment and administrative fees due to the overall shared expenses among all the funds.
 
5.      The fund will be professionally administered by a staff dedicated to grantmaking and knowledgeable of our area.
 
6.      You can add to your fund at any time; you can also direct others to make contributions in lieu of holiday or birthday gifts; and you can make your fund the beneficiary of all or part of your estate.
 
7.      Your gift will never be subject to future probate costs or legal fees that over time can erode many trusts.