You may create either an Endowed (Permanent) or Non-Endowed (Non-Permanent) component fund.
Endowed (Permanent) Component Funds
The minimum amount to create a permanent fund is $25,000, which may be initiated with a $5,000 contribution with the remaining $20,000 contributed over a five year period. There is no fee to create a permanent fund. The WCCF charges an annual management fee of 2% to permanent funds, which is assessed monthly based upon the average fair market value of the fund. Component funds may be created during a donor’s lifetime or by bequest.
Donors may establish permanent component funds as follows:
- Discretionary Funds – support the changing and emerging needs of the community. The annual distribution decision is entrusted to the WCCF Board of Trustees. Discretionary funds are used to support charitable projects benefiting Washington County in the areas of the animal welfare, arts & humanities, community improvement & economic development, conservation & environment, education, health & fitness, human needs and religion & faith-based.
- Designated Charity Funds – support specific charities identified by the donor in the fund agreement.
- Field of Interest Funds – support specific causes identified by the donor in the fund agreement.
- Lifelong Learning Funds– may be merit based or need based. Other criteria may be considered.
- Donor Advised Funds – The donor or donor designee may annually participate in the selection of the charities or charitable purposes to benefit from grants of earnings from the fund. The Foundation shall in good faith consider the grant recommendations, but shall not be bound by them.
Non-Endowed (Non-Permanent) Component Funds
The Foundation may, from time to time, accept non-permanent funds as a service to the donor and/or the community. The acceptance of non-permanent funds shall be determined by the Foundation on a case by case basis. Common reasons for donors to utilize pass through funds are for anonymity, ease of gift processing when a single gift is intended to support multiple charities, or when the donor wishes to support an identified worthy entity which has not yet received its charitable tax-exempt status. The WCCF may charge an administrative fee of up to 10%, which shall be assessed upon receipt of any and all monies deposited in the fund. Exact fees shall be determined on an individual basis, considering the complexity and time frame of the gift. In most situations, non-endowed funds earn no interest. Discretionary Funds, Designated Charity Funds, Field of Interest Funds, Scholarships Funds, and Donor Advised Funds (all as defined in previous section) may be created as Non-Endowed Component Funds.
- Project Funds Board Identified - The Foundation may establish and maintain project funds as non-endowed component funds to meet community needs as identified by the Board.
- Project Funds Community Identified - The Foundation may establish and maintain project funds as identified by community groups, as non-endowed component funds.
- Disaster Relief and Emergency Hardship Funds - The Foundation may establish disaster relief or emergency hardship funds to assist people in time of need and to help our community recover when disasters strike. The Foundation shall issue grants from these funds to approved organizations that provide assistance to individuals and other community organizations.
- Tax Credit Funds - The Foundation may establish various non-endowed funds for which donors may receive tax credits, provided that the purpose of the funds is compliant with this Policy. Such funds include, but are not limited to, those funds created to accept contributions through the Pennsylvania Educational Improvement Tax Credit Program and the Opportunity Tax Credit Program. The Foundation shall administer such funds in compliance with the parameters determined by the taxing body providing the tax credit, and therefore such funds may not be subject to the Foundation’s Variance Power.
Please contact the WCCF at (724) 222-6330 or via email to discuss your charitable objectives.