Creating a permanent fund at the Washington County Community Foundation can easily be accomplished, often within one day. If you are interested in creating a named fund, consider the following questions.
Funds are often named in memory or in honor of a loved one.
Discretionary Funds support the changing needs of the community. Grants are awarded in the following areas: arts & humanities, education, environment & animal welfare, health & fitness, human needs, and religion & faith-based.
The designation is made at the time the fund is created. Funds may be designated as follows:
Donor or designee may annually recommend the charitable cause to be supported.
Agency Endowments created by a charitable not for profit for its own benefit). The minimum amount must be contributed in lump sum, although additional contributions may be forwarded in any amount.
Named funds can be established that allow a gift to the Washington County Community Foundation to "pass through" to their favored charity. This may be appropriate when anonymity is important, unique property is used to make a gift, many gifts are planned for a single asset or in other unusual circumstances.
Donors may take up to five years to accumulate the requisite amount for Discretionary, Designated and Donor Advised funds.
There is no fee to create a new fund. Once the fund is created, there is an annual administrative fee charged to each fund. The fee is a percentage of the fair market value of the fund as of December 31, averaged over a 3-year period. Currently the administrative fee for permanent funds range from 1% to 2%.
Please contact the WCCF at (724) 222-6330 or via email to discuss your charitable objectives.