Giving Frequently Asked Questions
What is the minimum gift needed to establish an donor fund?
Funds can be established with an initial balance of $1,000.
What are the five charitable fund options available to me?
Please see Types of Funds
What are the differences between an donor fund at the Foundation and one at a commercially sponsored gift fund?
Although these products are similar in function, the Essex County Community Foundation offers several advantages over commercially sponsored gift funds.
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ECCF strengthens, advises and provides support services for the organizations you give to. There is no better way to maximize the effectiveness of your giving than by keeping your charitable fund at an organization that actually teaches and provides services to improve the inner workings of the charities you support.
- We tailor our services to meet the donor's need. Each donor has a different charitable interest. Each donor fund is different. We welcome that difference.
- ECCF is directly involved in nonprofits throughout the 34 towns that make up Essex County. We have already provided grants and services to over 500 of them. We meet with them, go on site visits with our donors, facilitate collaboration, and teach and counsel them individually to help improve their operational efficiency and strengthen their boards and staff. See our Foundation Options Comparison table.
Do I have to make grants to Essex County based organizations only?
No. Through an advised fund, you can make grant recommendations to any 501(c)(3) public charity in the United States.
Who can recommend grants from an donor fund?
You name the advisors: yourself, family or others. Advisors may be added or changed later.
Can my children become advisors to the donor fund upon my death?
Yes. A donor can name any successor advisor at any point in time. If no successor advisors are named, the remaining balance of the fund is added to the ECCF's discretionary fund upon the death of the sole remaining advisor.
Can grants from my donor fund be made anonymously?
Yes. You can make the entire fund anonymous, make its grants anonymous, or just make particular grants anonymous.
What freedom do I have in naming my fund?
You can call the fund anything you want, as long it is uniquely identifiable. Name it now and change it later if you wish.
How will a donor fund be invested?
ECCF's Trustee Investment Committee, composed of investment experts who live in Essex County, selects leading financial firms who follow our direction. Please see Investment & Financial Information.
If you would like a copy of our investment objectives and guidelines, please call or Email us.
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