Community Foundation of Central Illinois How To Create a Fund












How Do I Create a Fund?

Choose When to give

You can create a fund during your lifetime, in your will or through a trust arrangement that benefits your family and your favorite charities. Tax deductions are earned at the time of the gift, while grantmaking continues into the future.

Choose What to give

You can start your fund with almost any kind of asset-cash, publicly traded securities, closely held stock, interests in limited partnerships, real estate, and tangible personal property. Gifts of long-term appreciated property earn tax deducitons for their full market value.

Choose a Name

Every grant from your fund carries its name. Many people choose to name their fund for the donor, for the donor's family, or as a memorial to someone special. You can also remain anonymous.

Choose a Type of Fund

  • Unrestricted Funds remain in perpetuity to address the needs within our community as they change over time. A community based committee reviews and approves grants, then makes them in your fund's name.

  • Field-of Interest Funds can be donor directed for a particular purpose, such as literacy or art education. We select the nonprofit organizations that best serve your charitable intent.

  • Designated Funds allow you to specify the charitable organizations you want to receive a portion of the earnings from your fund. Most people select the recipients of their present charitable giving.

  • Scholarship Funds let you help a group of students at a specific school or in a particular curriculum get an education. You can be involved in part or all of the selection process.

  • Donor-Advised Funds allow you to remain actively involved in your charitable giving. From time to time, you or an advisor of your choice may suggest who is to benefit from your gift.

  • Organizational Endowment Funds let nonprofit organizations create permanent endowment funds. We handle all administrative and investment responsibilities, freeing the organization to pursue its mission.
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