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Looking Forward. Giving Back. |
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3202 Colby Avenue, Suite A, Everett - Mailing address: PO Box 5549, Everett, WA 98206
(425) 212-4056 - FAX: (425) 212-4059
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Helping local organizations sustain and grow.
Establishing a Designated Fund allows you to support the good work of a specific nonprofit organization. Because it’s given through your Community Foundation, your gift provides the organization you select not only funding, but planned giving and investment management services and the power of endowment.How it works:
- You identify an organization that you wish to benefit.
- You make a gift to your Community Foundation — you can give cash, appreciated stocks, real estate, or other assets.
- We set up a special fund in your name or in the name of the nonprofit organization you choose.
- You receive tax benefits in the year your gift is made.
- Our board issues grants to the designated nonprofit organization.
- We handle all the administrative details, including managing specific qualifications that you may establish for grant disbursements.
- You receive updates on the impact the fund is making.
- Your gift can be placed into an endowment that is invested over time.
Earnings from your fund go to support the organization(s) you have designated. Your gift — and all future earnings from your gift — is a permanent source of community capital, helping to do good work forever.
More benefits.
A Designated Fund provides you a wonderful way to give back to one or more specific organizations that have touched your life. Your gift provides more than just funding — your favorite organization will benefit from your Community Foundation’s investment stewardship and ability to manage endowment funds. Because your Community Foundation handles the details, the nonprofit organization’s staff is freed up to focus on its mission. And, the Community Foundation can facilitate even the most complex forms of giving, such as planned gifts or gifts of appreciated stock or real estate.
You can add to the fund at any time. If the organization you select ceases to exist or changes in mission, the fund can be redirected so that it continues to address your charitable intent.
Three times a week, Wendell Pittman delivers meals to homebound senior citizens as a volunteer for Meals for Seniors. While the organization has benefited from volunteerism and community recognition for over a decade, it depended largely on small donations and lacked a more predictable funding source. “Our organization needed more reliable funding, but we had trouble accepting large or complex gifts,” says Mary Lynch, Meals for Seniors’ executive director. After talking with Mary and with his financial advisor, Wendell decided to begin a Designated Fund with his local community foundation. He donated a piece of rental property that was becoming a bother in his retirement. The community foundation immediately sold the property and established the Meals for Seniors Fund. Thanks to this fund, other donors can contribute assets of a variety of types and sizes. “We’re thrilled to be working with our community foundation,” says Mary. “Meals for Seniors would not have been able to do this on its own. ”
| The FOUNDING FAMILIES of Greater Everett Community Foundation |