Starting a Fund
Starting a Donor fund at ECCF is easy and the benefits are numerous. An individual, family, business, nonprofit organization, or private foundation can open a fund at ECCF with as little as $10,000 and receive all of the benefits available from a community foundation. These benefits include:
- Maximum tax donation allowed under the law.
- Administrative and record keeping services
- Assistance in identifying grant opportunities.
- Timely distribution of grant recommendations
What is more, a donor fund is pooled for investment purposes with all ECCF donor fund assets into a managed investment portfolio to ensure the best possible return on investment.
See Investment Management for details.
To open a fund:
Step 1. Decide which type of fund works best for you. ECCF's staff can assist you in selecting the appropriate fund to meet your interests and needs.
Step 2. Read through our Guidelines for Setting Up a Fund at ECCF.
Step 3. Complete the two-page agreement. If opening a Donor Advised Fund, list the advisers who will be making grant recommendations with you. You can also name successor advisers to the fund.
Step 4. Transfer the assets you plan to use to set up the fund. See Ways to Give.
Once the donor fund is established, you will receive an immediate tax deduction, ECCF will invest the assets and you can begin recommending grants.
Feel free to call us at 978-777-8876 or email Jay Caporale.
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