FOR DONORS: Overview Make a Memorial or Honorarium Donation Ways to Give Now Ways to Give Later Types of Funds How to Establish a Fund Tips on Giving Wisely Planned Giving Weekly News LEARN MORE: Arts & Culture Environment Education Community Development Civic Affairs Youth Health & Human Services	For Donors How to Establish a Fund Legacy Foundation works hard to provide flexibility to our donors and make the process of establishing a fund an easy process. Foundation staff are committed to helping donors establish a fund that best meets their charitable needs. Different types of funds have different governing guidelines. Donor Advised Fund A great way to stay involved in the use of your gift! • A fund agreement is established to define the intent and purpose of each fund • The donor(s) make grant recommendations by completing the Donor Suggestion Form, or staff will provide grant suggestions based on the donor’s interests • During the donor(s) lifetime, grants can be made outside the Lake County community • A minimum endowed balance of $10,000 is required to establish a Donor Advised Fund • Distributions may be made at any time, in any amount, in the Community Foundation’s discretion, • A management fee of 1% is charged on the first $1,000,000 to each fund (calculated as 1/4 of 1% of the average quarterly total fund balance) • The management fee is reduced as the fund grows • Fund statements will be provided on a quarterly basis or as requested • Foundation staff are available to provide assistance in grantmaking, fundraising, and other philanthropic activities • All funds are listed in the annual report published by the Foundation • All donors are invited to the Foundation’s annual reception. Establishing a Field of Interest Fund or Organizational Endowment Fund • A fund agreement is established to define the intent and purpose of each fund • The donor can establish a committee to make grant recommendations or a committee within the Foundation may assume this responsibility • A minimum of $5,000 is required to establish a fund • A management fee of 1% is charged on the first $1,000,000 to each fund (calculated as 1/4 of 1% of the average quarterly total fund balance) • The management fee is reduced as the fund grows • The annual recommended distribution (spending) level is 5% • Fund statements will be provided on a bi-annual basis or as requested • Community Foundation staff are available to provide assistance in grantmaking, fundraising, and other philanthropic activities • All funds are listed in the annual report published by the Community Foundation • All donors are invited to the Community Foundation’s Annual Meeting Establishing a Scholarship Fund • A fund agreement is established to define the purpose, criteria, selection process, and amount of the scholarship with the donor • The donor can establish a Scholarship Selection Committee, or a Scholarship Committee within the Foundation may assume this responsibility • A minimum of $5,000 is required to establish a fund – A minimum of $10,000 is required to distribute scholarships from the fund • Cash and/or securities may be gifted to establish a scholarship fund • A management fee of 2% is charged to each scholarship fund where the Foundation assumes responsibility for the selection process. A fee of 1% applies if the selection is completed by other parties external from the Foundation • A personalized certificate is produced to describe the purpose of the scholarship and to commemorate or memorialize those for whom the scholarship is established • The fund representative(s) (donor) is invited to present the scholarship award to the recipient (if allowed by the school corporation) • All funds are listed in the annual report published by the Foundation • All donors are invited to the Foundation’s Annual Community Event • The annual recommended distribution (spending) level is 5% on endowed funds • Fund statements will be provided on an annual basis or as requested
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