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Your Community Foundation
Your Community Foundation
  • Home
  • About
    • YCF FAQ
    • History & Mission
    • Board Members & Staff
    • Financial Statements
    • Annual Impact Report
  • Donors
    • Why YCF?
    • How to Give
    • Establish a Fund
    • Funds of the Foundation
    • Planned Giving
  • Nonprofits
    • Apply for a Grant
    • Recent Grants
    • Agency Funds
  • Initiatives
    • Match Month
  • Donate
  • More
    • Home
    • About
      • YCF FAQ
      • History & Mission
      • Board Members & Staff
      • Financial Statements
      • Annual Impact Report
    • Donors
      • Why YCF?
      • How to Give
      • Establish a Fund
      • Funds of the Foundation
      • Planned Giving
    • Nonprofits
      • Apply for a Grant
      • Recent Grants
      • Agency Funds
    • Initiatives
      • Match Month
    • Donate
  • Home
  • About
    • YCF FAQ
    • History & Mission
    • Board Members & Staff
    • Financial Statements
    • Annual Impact Report
  • Donors
    • Why YCF?
    • How to Give
    • Establish a Fund
    • Funds of the Foundation
    • Planned Giving
  • Nonprofits
    • Apply for a Grant
    • Recent Grants
    • Agency Funds
  • Initiatives
    • Match Month
  • Donate

Steps to establish a fund

1. Contact the community Foundation

The process begins with a consultation with the community foundation. This is an opportunity to discuss your philanthropic goals, interests, and the types of causes or projects you want to support. The foundation’s staff will guide how to structure your fund to align with your objectives.

TO START THE FUND CREATION PROCESS CONTACT:

Executive Director - Elaina Stiffler

givingmakesadifference@gmail.com

View Current Funds

2. DEFINE YOUR FUND'S GOALS

NAME YOUR FUND

When you establish a fund with Your Community Foundation, you have the opportunity to choose its name. Many donors select names that honor their family, commemorate a loved one, or reflect the fund's specific charitable mission.


DEFINE A PURPOSE

Define the charitable purpose of your fund by considering your areas of interest. Are you passionate about supporting education, health, the arts, or addressing a particular community need?


DETERMINE ENDOWMENT STATUS

 

  • Endowed: A long-term giving strategy that grows in perpetuity. Permanent at the foundation, up to 5% of the interest can be used for grant-making per year.


  • Expendable: A short-term giving strategy in which all interest and principal can be used for grant making.


CHOOSE INVESTMENT ASSET ALLOCATION

 Both endowed and expendable funds are invested to grow their value over time. You have the flexibility to decide how the assets within your fund are allocated, choosing from a range of investment options that align with your financial goals and charitable objectives. This allows you to tailor the fund's investments to match your preferences and maximize its impact according to your vision.

3. Choose the type of fund


  • DONOR ADVISED FUND:  This fund offers you the opportunity to be involved in the grant-making process on an ongoing basis. This fund allows you to suggest grants to qualified nonprofits which are then brought to the board for approval. We handle the due diligence and distribution of the grant money. These are great for all types of donors: individuals, families, businesses, etc.


  • FIELD OF INTEREST FUND:  A field of interest fund is a targeted gift specific to the needs of a particular community area. The fund area would be based on the field most important to you. You would identify your personal area of interest and the board would award grants in this specific area.


  • SCHOLARSHIP FUND:  This fund is set up to help current or future college students reach their educational goals. Your Community Foundation can work with you to help you determine the criteria you would like to set for who might be eligible to receive the scholarship. It is important to note that you will not be able to pick the scholarship recipients. We will evaluate the applicants on your set criteria and from there process the scholarship awards.


  • UNRESTRICTED FUND:  An unrestricted fund isn't designed to be specific to any cause or area of interest. The fund can provide the versatility to address the community's ever-changing needs. By donating this unrestricted gift, your fund is not bound to any specific focus, allowing it to be utilized to address the most urgent needs of the community. 


  • DESIGNATED FUND:  A designated fund is a type of charitable fund established by donors to support specific charitable causes over time. Designated funds direct the foundation to allocate grants exclusively to the organization(s) specified by the donor. This type of fund helps promote sustainability for the organization(s) by helping fund its projects and operational expenses.


  • AGENCY FUND:  An agency fund is set up by nonprofit organizations within the community. These funds allow the nonprofits to benefit from the foundation’s investment expertise while securing a stable source of income for their future needs. By pooling their assets with those of other donors, the community foundation manages and grows these funds, ensuring the nonprofit organization has ongoing financial support to further its mission and impact.


4. SIGN A FUND AGREEMENT

The foundation will prepare a fund agreement based on all the previous information. The document outlines the fund’s purpose, management, and distribution policies. It’s usually straightforward and designed to be easy to understand. The initial donation to establish the fund will be made concurrently with the signing of the fund agreement.


5. watch the fund grow and make an impact

The fund's assets are professionally managed and invested to increase the fund balance over time. As the principal of the fund grows, so does the amount available for grantmaking, increasing the philaphrophic impact of your fund. Additionally, you have the flexibility to make future contributions to your fund, even further increasing its impact. This ongoing investment not only strengthens the foundation’s ability to meet emerging needs but also fosters a lasting legacy of philanthropy in your community.


Endowment Growth Calculator

     

  • YCF FAQ
  • Establish a Fund
  • Apply for a Grant
  • Match Month

Your Community Foundation

PO Box 44 Iola, Kansas 66749, United States

givingmakesadifference@gmail.com | 620-418-6982

Copyright © 2024 Your Community Foundation - All Rights Reserved.

YCF is a non-profit 501(c)(3) organization EIN #43-1923000

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