| Helping You Leave a Charitable Legacy
Through the Richland County Foundation you may create a charitable legacy tailored to your specific needs and interests. A fund may be established with a contribution of cash, securities, or other property valued at $10,000 or more.
Richland County Foundation offers eight distinct types of funds: unrestricted, field of interest, designated, scholarship, organization endowment, donor-advised, or administrative funds. You may choose any name you wish for your fund, your own or that of your family, a friend, or an organization. You may take a tax deduction at the time the gift is made.
Why establish a Fund at Richland County Foundation?
Permanence: Gifts can give forever because the Foundation invests the charitable capital to make certain there are resources for the future.
Flexibility: The Richland County Foundation offers unique flexibility, making it possible for donors to benefit a variety of philanthropic purposes.
Tax Benefits: As a public charity, the Foundation offers maximum tax benefits.
Financial Management: Maximizing returns while minimizing expenses, the Foundation offers a variety of investment options.
Security: A volunteer Governing Committee of experienced community leaders oversees Foundation management and use of funds.
Please contact Pam Siegenthaler by e-mail or by phone, 419.525.3020, for more information on how to establish a fund at Richland County Foundation. |
Fund Guidelines
- Minimum Contribution or Fund Balance of $10,000 to carry a separate, named fund. To set up a named scholarship fund the minimum is $20,000.
- Donor and representative of the Foundation both sign transmittal document, which indicates initial contribution, name of fund, type of fund, and direction/purpose for fund. The transmittal document also indicates the responsibilities of the Foundation for investment, and disbursement of funds.
- Donor gives direction for the fund, such as field of interest or naming specific nonprofit organizations in the community. The donor may also designate the fund as unrestricted, giving the responsibility to the Board of Trustees to determine the greatest need in the community. The Foundation encourages the establishment of permanently endowed funds, where grants are made only from net earnings, as defined in the foundation's spending policy, allowing the original gift to grow through investments to meet future charitable needs.
- An annual administrative fee is charged to the fund. The fee varies from 0.5% to 1.0% of market value of fund assets, depending on the type of fund and the amount of staff administration required. The fee is calculated and charged quarterly.
- The Board of Trustees is responsible for investing the assets of the fund, looking at the balance of fixed investments and equities which will provide a current stream of earnings for grant making, as well as providing growth in the fund to keep pace with or exceed inflation and thereby provide future grant making ability.
- Whenever grants are made, the name of the fund will be identified to the receiving nonprofit organization. Foundation news releases, newsletters and the annual report will also identify the fund name in association with grants unless the donor requests anonymity.
Richland County Foundation is able to assist you by:
- Managing the fund, and overseeing its investment.
- Providing the services of an experienced grant making staff to the donor and the fund.
- Assuring that grants are always awarded in the name of your fund, to ensure a lasting symbol of your caring.
- Issuing regular financial reports, newsletters and news releases to the donor on the status of the fund.
Please contact Pam Siegenthaler by e-mail or by phone, 419-525-3020, for more information.
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