Essex County Community Foundation Breaks the $12 Million Mark

Danvers, MA – In a short eight years, the Essex County Community Foundation has built a $12 million asset base of 80 named donor funds.  These funds provide grants to serve the critical needs of the communities that comprise Essex County.  In all the Essex County Community Foundation has granted over $5 million to 400 of the 1500 nonprofit agencies which serve the Essex County communities.

Our donors have recognized the advantages of setting up their charitable funds at a community foundation.  ECCF offers huge economies of scale by enabling donors to outsource the administration of their charitable endeavors to a central, multi-service organization dedicated to philanthropic support.  ECCF provides the donor with major tax advantages, elimination of individual federal and state reporting requirements and a much greater return on investment of their philanthropic dollars.

Donor funds are established by individuals, families or a group of donors to support their own charitable interests or are created to benefit a specific charity or field of interest.  Scholarships can be established as memorials or to benefit students at a specific school.  Donor funds are a very cost effective alternative to creating a private foundation or charitable trust.

Setting up a fund at Essex County Community Foundation takes four easy steps. First, meet with ECCF staff to review and select different options for your specific philanthropic interest.  Second, transfer assets to ECCF.  Third, establish an advisory committee. Finally, begin making grant awards.  For more information on establishing your fund at ECCF, call 978-777-8876.